Why Specialty Chemical Company Axalta Coating Shares Are Seeing Blue Skies Today
Why Specialty Chemical Company Axalta Coating Shares Are Seeing Blue Skies Today
Axalta Coating Systems Ltd. (NYSE:AXTA) shares are trading higher after the company reported better-than-expected first-quarter results and raised guidance.
艾仕得涂料系统有限公司（纽约证券交易所代码：AXTA）公布的第一季度业绩好于预期并提高了预期，股价走高。
Revenue rose 0.8% Y/Y to $1.3 billion, which was in line with the consensus.
收入同比增长0.8％，至13亿美元，符合市场共识。
The company witnessed growth within the company's end-markets, which was led by a 4% Y/Y improvement in both Refinish and Light Vehicle, offset partially by a decline in net sales in Industrial and Commercial Vehicle.
该公司见证了公司终端市场的增长，这得益于修补漆和轻型汽车的同比增长4％，但工业和商用车净销售额的下降部分抵消了增长。
By segment, revenue from the Performance Coatings segment remained flat Y/Y at $848 million, and Mobility Coatings rose 2% Y/Y to $446 million in the quarter.
按细分市场划分，高性能涂料板块的收入同比持平，为8.48亿美元，而汽车涂料板块的收入同比增长2％，至4.46亿美元。
Adjusted EBITDA increased to $259 million from $213 million a year ago, with adjusted EBITDA margin improving 340 basis points Y/Y to 20.0%
调整后的息税折旧摊销前利润从去年同期的2.13亿美元增至2.59亿美元，调整后的息税折旧摊销前利润率同比增长340个基点至20.0％
Adjusted EPS improved 37% Y/Y to $0.48, beating the consensus of $0.40.
调整后的每股收益同比增长37％，至0.48美元，超过市场预期的0.40美元。
As of quarter end, cash and equivalents stood at $627 million. Total liquidity was over $1.1 billion.
截至季度末，现金及等价物为6.27亿美元。总流动性超过11亿美元。
Repurchase: In April 2024, Axalta's Board of Directors approved a $700 million share repurchase program, which replaces the prior share repurchase program.
回购：2024 年 4 月，艾仕得董事会批准了一项价值 7 亿美元的股票回购计划，该计划取代了之前的股票回购计划。
Outlook: The company expects Q2 adjusted EPS of ~$0.50 (vs. consensus: $0.47), net sales growth of 3%-5% Y/Y, and adjusted EBITDA of ~$275 million.
展望：该公司预计，第二季度调整后的每股收益约为0.50美元（市场普遍预期为0.47美元），净销售额同比增长3％-5％，调整后的息税折旧摊销前利润约为2.75亿美元。
For FY24, Axalta Coating raised its adjusted EPS outlook to $1.90-$2.00 (from $1.80-$1.95 prior) versus the consensus of $1.89.
对于24财年，艾仕得涂料将其调整后的每股收益展望上调至1.90美元至2.00美元（从之前的1.80美元至1.95美元），而市场普遍预期为1.89美元。
The company still sees FY24 sales growth in low single digits Y/Y and revised adjusted EBITDA forecast to $1.050 billion – $1.080 billion.
该公司仍预计24财年的销售额同比增长将保持在较低的个位数，并将调整后的息税折旧摊销前利润预测修订为10.50亿美元至10.80亿美元。
Chris Villavarayan, CEO and President, said, "We are executing well and I am confident in our trajectory this year as we target record earnings for the second consecutive year. We also remain focused on driving strategic actions intended to accelerate long-term value creation and unlock earnings power. As a result, we are raising our full year 2024 Adjusted EBITDA, Adjusted EPS, and Free Cash Flow guidance."
首席执行官兼总裁克里斯·维拉瓦拉扬表示：“我们表现良好，我对今年的发展轨迹充满信心，因为我们的目标是连续第二年实现创纪录的收益。我们还继续专注于推动旨在加速长期价值创造和释放盈利能力的战略行动。因此，我们提高了2024年全年调整后息税折旧摊销前利润、调整后每股收益和自由现金流指导。”
Investors can gain exposure to the stock via ProShares Smart Materials ETF (NYSE:TINT).
投资者可以通过ProShares智能材料ETF（纽约证券交易所代码：TINT）获得股票敞口。
Price Action: AXTA shares are up 7.63% at $33.84 at the last check Wednesday.
价格走势：在周三的最后一次检查中，AXTA股价上涨7.63％，至33.84美元。
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