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.
艾仕得塗料系統有限公司（紐約證券交易所代碼：AXTA）公佈的第一季度業績好於預期並提高了預期，股價走高。
Revenue rose 0.8% Y/Y to $1.3 billion, which was in line with the consensus.
收入同比增長0.8％，至13億美元，符合市場共識。
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.
該公司見證了公司終端市場的增長，這得益於修補漆和輕型汽車的同比增長4％，但工業和商用車淨銷售額的下降部分抵消了增長。
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.
按細分市場劃分，高性能塗料板塊的收入同比持平，爲8.48億美元，而汽車塗料板塊的收入同比增長2％，至4.46億美元。
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%
調整後的息稅折舊攤銷前利潤從去年同期的2.13億美元增至2.59億美元，調整後的息稅折舊攤銷前利潤率同比增長340個點子至20.0％
Adjusted EPS improved 37% Y/Y to $0.48, beating the consensus of $0.40.
調整後的每股收益同比增長37％，至0.48美元，超過市場預期的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，現金及等價物爲6.27億美元。總流動性超過11億美元。
Repurchase: In April 2024, Axalta's Board of Directors approved a $700 million share repurchase program, which replaces the prior share repurchase program.
回購：2024 年 4 月，艾仕得董事會批准了一項價值 7 億美元的股票回購計劃，該計劃取代了之前的股票回購計劃。
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：該公司預計，第二季度調整後的每股收益約爲0.50美元（市場普遍預期爲0.47美元），淨銷售額同比增長3％-5％，調整後的息稅折舊攤銷前利潤約爲2.75億美元。
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.
對於24財年，艾仕得塗料將其調整後的每股收益展望上調至1.90美元至2.00美元（從之前的1.80美元至1.95美元），而市場普遍預期爲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.
該公司仍預計24財年的銷售額同比增長將保持在較低的個位數，並將調整後的息稅折舊攤銷前利潤預測修訂爲10.50億美元至10.80億美元。
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."
首席執行官兼總裁克里斯·維拉瓦拉揚表示：“我們表現良好，我對今年的發展軌跡充滿信心，因爲我們的目標是連續第二年實現創紀錄的收益。我們還繼續專注於推動旨在加速長期價值創造和釋放盈利能力的戰略行動。因此，我們提高了2024年全年調整後息稅折舊攤銷前利潤、調整後每股收益和自由現金流指導。”
Investors can gain exposure to the stock via ProShares Smart Materials ETF (NYSE:TINT).
投資者可以通過ProShares智能材料ETF（紐約證券交易所代碼：TINT）獲得股票敞口。
Price Action: AXTA shares are up 7.63% at $33.84 at the last check Wednesday.
價格走勢：在週三的最後一次檢查中，AXTA股價上漲7.63％，至33.84美元。
Photo via S
照片由 S 拍攝
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