Axalta Coating Systems reported second-quarter revenue of $1.35 billion, up 3.1% year over year and surpassing the Zacks Consensus Estimate of $1.32 billion. Earnings per share came in at $0.72, exceeding the consensus estimate of $0.65 and up from $0.64 a year ago. Within the Performance Coatings segment, Refinish sales reached $545 million, Industrial sales were $327 million, and total Performance Coatings sales hit $872 million, all above analyst projections. Mobility Coatings sales totaled $474 million, with Light Vehicle sales of $360 million slightly missing estimates and Commercial Vehicle sales of $114 million beating them. Adjusted EBIT for Performance Coatings was $218 million, well above the $197.4 million estimate, while Mobility Coatings adjusted EBIT of $87 million fell short of the $90.02 million consensus.
Axalta Coating Systems LtdQ2 revenue and EPS beat estimates, with Performance Coatings EBIT exceeding consensus.