Axalta Coating Systems (AXTA) Tops Q1 EPS by 12c, Updates Guidance

Axalta Coating Systems (NYSE: AXTA) reported Q1 EPS of $0.34, $0.12 better than the analyst estimate of $0.22. Revenue for the quarter came in at $1.12 billion versus the consensus estimate of $1.14 billion.

2019 Guidance Update:

We are updating our previous outlook for the full year 2019 as follows:

• Net sales growth of ~0-1% as-reported; ~1-2% ex-FX; includes impact of anticipated Q2 2019 sale of Asia Pacific joint venture
• Adjusted EBIT of $675-725 million (1)
• Adjusted EPS range of $1.68-1.88 (1)
• Adjusted EBITDA of $950-1,000 million
• Interest expense of ~$165 million
• Income tax rate, as adjusted, of 20-22%
• Free cash flow range of $430-470 million
• Capital expenditures of ~$160 million
• Depreciation and amortization of ~$375 million
• Diluted shares outstanding of ~238 million

For earnings history and earnings-related data on Axalta Coating Systems (AXTA) click here.

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