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Associated Press
30-07-2025
- Business
- Associated Press
Axalta Releases Second Quarter 2025 Results
PHILADELPHIA, July 30, 2025 (GLOBE NEWSWIRE) -- Axalta Coating Systems Ltd. (NYSE:AXTA) ('Axalta'), a leading global coatings company, announced its financial results for the second quarter ended June 30, 2025. Second Quarter 2025 Highlights: 'We delivered another excellent quarter, setting new records for Adjusted EBITDA and Adjusted Diluted EPS,' said Chris Villavarayan, CEO and President of Axalta. 'Our performance reflects Axalta's drive for operational excellence, and our commitment to meet financial targets and create value through our A Plan objectives.' Second Quarter 2025 Consolidated Financial Results Net sales decreased 3% year over year to $1.3 billion in the second quarter of 2025. Volume declines, primarily in Performance Coatings, more than offset contributions from the CoverFlexx acquisition and favorable currency translation. Net income decreased by 3% year over year to $110 million compared to $113 million in the prior year period resulting in a net income margin of 8.4%. The decrease was largely due to costs from restructuring programs initiated in the quarter designed to drive efficiencies, partially offset by a decline in operating expenses and lower interest and tax expense. Adjusted net income improved by $4 million year over year to $139 million driven by lower operating expenses, reduced interest expense and improved variable costs. Adjusted EBITDA was a new quarterly record of $292 million, an increase of $1 million year over year, and Adjusted EBITDA margin expanded by 90 basis points year over year to 22.4%. Diluted earnings per share decreased by 2% to $0.50 compared to $0.51 in the prior year period, while adjusted diluted earnings per share improved by 5% to $0.64. In the second quarter of 2025, Axalta generated $142 million in cash provided by operating activities, a significant improvement from $114 million in the same period last year. This year-over-year increase reflects the company's focus on margin expansion and operational discipline. In the second quarter, free cash flow was $101 million, up from $95 million in the prior year, driven by stronger operating performance, partially balanced by increases in strategic capital expenditures to support productivity and long term growth. Discussion of Segment Results Performance Coatings second quarter 2025 net sales were $836 million, compared to $887 million in the prior year period. Contributions from the CoverFlexx acquisition and favorable currency impacts helped partially offset the decline in organic net sales. Refinish net sales declined 6% year over year to $514 million predominantly driven by organic net sales decline in North America. Industrial net sales decreased by 6% year over year to $322 million as positive price-mix and favorable foreign currency translation were offset by lower volumes. The Performance Coatings segment generated Adjusted EBITDA of $200 million compared to $223 million in the prior year period, reflecting resilient earnings in the face of softer volumes. While organic net sales moderated, the segment maintained a healthy Adjusted EBITDA margin of 23.8% supported by lower operating and variable expenses compared to the prior year period. Mobility Coatings second quarter 2025 net sales were $469 million, an increase of 1% from the prior year period. Light Vehicle net sales were up 2% year over year due to organic net sales growth in three out of four regions, which more than offset declines in North America. Commercial Vehicle net sales decreased by 4% year over year to $107 million due to lower volumes from Class 8 builds and foreign currency translation headwinds partially mitigated by positive price-mix. Mobility Coatings price-mix drove a 4% benefit year over year. The Mobility Coatings segment delivered exceptional performance in the second quarter, generating Adjusted EBITDA of $92 million, a significant increase from the $68 million in the prior year period. The segment's Adjusted EBITDA margin expanded to 19.8%, up from 14.8% in the prior year period, reflecting benefits from positive price-mix and disciplined cost management. This strong margin expansion underscores Axalta's ability to drive profitable growth. Third Quarter and Updated Full Year 2025 Outlook LSD = low single digit percentage Axalta does not provide a reconciliation for non-GAAP estimates for Adjusted EBITDA, Adjusted Diluted EPS, Free Cash Flow or tax rate, as adjusted, on a forward-looking basis because the information necessary to calculate a meaningful or accurate estimation of reconciling items is not available without unreasonable effort. See 'Non-GAAP Financial Measures' for more information. Conference Call Information As previously announced, Axalta will hold a conference call to discuss its second quarter 2025 financial results on Wednesday, July 30, 2025, at 8:00 a.m. ET. A live webcast of the conference call will be available online at A replay of the webcast will be posted shortly after the call and will remain accessible through July 30, 2026. The dial-in phone number for the conference call is 1-800-225-9448 and the conference ID is AXALTA. For those unable to participate, a replay will be available through August 6, 2025. The replay dial-in number is +1-844-512-2921. The replay passcode is 11159306. Cautionary Statement Concerning Forward-Looking Statements This release may contain certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 regarding Axalta and its subsidiaries including, but not limited to, statements regarding our previously announced three-year 2024-2026 strategy (the '2026 A Plan'), and our outlook and/or guidance, which includes net sales, net sales growth, Adjusted EBITDA, Adjusted Diluted EPS, Free Cash Flow, depreciation and amortization, tax rate, as adjusted, diluted shares outstanding, interest expense and capital expenditures. Axalta has identified some of these forward-looking statements with words such as 'outlook,' 'estimates,' 'objectives,' and 'projections,' and the negative of these words or other comparable or similar terminology. All of these statements are based on management's expectations as well as estimates and assumptions prepared by management that, although they believe to be reasonable, are inherently uncertain. These statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental, including any tariffs imposed by the U.S. and any retaliatory actions from other countries, and technological factors outside of Axalta's control, as well as risks related to the execution of, and assumptions underlying, the 2024 Transformation Initiative and the 2026 A Plan, that may cause its business, industry, strategy, financing activities or actual results to differ materially. More information on potential factors that could affect Axalta's financial results is available in 'Forward-Looking Statements,' 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' within Axalta's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and in other documents that we have filed with, or furnished to, the U.S. Securities and Exchange Commission (the 'SEC'). Axalta undertakes no obligation to update or revise any of the forward-looking statements contained herein, whether as a result of new information, future events or otherwise. Non-GAAP Financial Measures This release includes financial information that is not presented in accordance with generally accepted accounting principles in the United States ('GAAP'), including Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Diluted EPS, adjusted net income, Free Cash Flow, tax rate, as adjusted, and Adjusted EBIT. Management uses Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Diluted EPS, adjusted net income, tax rate, as adjusted, and Adjusted EBIT in the analysis of our financial and operating performance because they assist in the evaluation of underlying trends in our business. Management uses Free Cash Flow in the analysis of (1) our liquidity, (2) our ability to incur and service our debt and (3) strategic capital allocation decisions. Adjusted EBITDA, Adjusted Diluted EPS, adjusted net income and Adjusted EBIT consist of EBITDA, Diluted EPS, net income attributable to common shareholders and EBIT, respectively, adjusted for (i) certain non-cash items included within net income, (ii) certain items Axalta does not believe are indicative of ongoing operating performance or (iii) certain nonrecurring, unusual or infrequent items that have not otherwise occurred within the last two years or we believe are not reasonably likely to recur within the next two years. Free Cash Flow consists of cash provided by (used for) operating activities less purchase of property, plant and equipment plus interest proceeds on swaps designated as net investment hedges. We believe that making the foregoing adjustments provides investors meaningful information to understand our operating results and ability to analyze financial and business trends on a period-to-period basis. The non-GAAP financial measures used by Axalta may differ from similarly titled measures reported by other companies. Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Diluted EPS, adjusted net income, Free Cash Flow, tax rate, as adjusted, and Adjusted EBIT should not be considered as alternatives to net sales, net income (loss), income (loss) from operations or any other financial measures derived in accordance with GAAP. These non-GAAP financial measures have important limitations as analytical tools and should be considered in conjunction with, and not as substitutes for, our results as reported under GAAP. This release includes a reconciliation of certain non-GAAP financial measures with the most directly comparable financial measures calculated in accordance with GAAP. Axalta does not provide a reconciliation for Adjusted EBITDA, Adjusted Diluted EPS, tax rate, as adjusted, or Free Cash Flow on a forward-looking basis because the information necessary to calculate a meaningful or accurate estimation of reconciling items is not available without unreasonable effort. For example, such reconciling items include the impact of foreign currency exchange gains or losses, gains or losses that are unusual or nonrecurring in nature, as well as discrete taxable events. These items are uncertain, depend on various factors and may have a substantial and unpredictable impact on our GAAP results. Organic Net Sales Organic net sales and related growth and decline measures are calculated by excluding (i) the impact of the change in average exchange rates between the current and comparable period by currency denomination exposure of the comparable period amount and (ii) net sales of CoverFlexx. We believe presenting organic net sales and related growth and decline measures assists investors with evaluating our sales performance without the impact of foreign exchange rates and recent acquisitions and divestitures of size, and management also routinely evaluates our sales in this manner. Non-GAAP Reporting Changes Beginning with the results for the fourth quarter and full year 2024, we have made changes to our presentation of the non-GAAP financial measures of adjusted net income (which is also leveraged in the calculation of Adjusted Diluted EPS) and Adjusted EBIT. More detail on these changes can be found in the Current Report on Form 8-K we furnished to the SEC on January 21, 2025, which is available on the investor relations portion of our website at Nothing on our website shall be deemed to be incorporated by reference into this release. Segment Financial Measures The primary measure of segment operating performance is Adjusted EBITDA, which is a key metric that is used by management to evaluate business performance in comparison to budgets, forecasts and prior year financial results and that management believes reflects Axalta's core operating performance. As we do not measure segment operating performance based on net income, a reconciliation of this non-GAAP financial measure with the most directly comparable financial measure calculated in accordance with GAAP is not available. Defined Terms All capitalized terms contained within this release that are not otherwise defined herein have been previously defined in our filings with the SEC. Rounding Certain amounts may not foot or crossfoot due to rounding. Additionally, certain percentages may not recalculate due to rounding. About Axalta Coating Systems Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful and sustainable coatings solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity and enhance durability. With more than 150 years of experience in the coatings industry, the global team at Axalta continues to find ways to serve our more than 100,000 customers in over 140 countries better every day with the finest coatings, application systems and technology. For more information visit and follow us @axalta on X. The following table reconciles net income to EBITDA, Adjusted EBITDA and segment Adjusted EBITDA for the periods presented (in millions): The following table reconciles net income to adjusted net income for the periods presented (in millions, except per share data): The following table reconciles cash provided by operating activities to free cash flow for the periods presented (in millions): The following table reconciles income from operations to adjusted EBIT for the periods presented (in millions):
News18
24-05-2025
- Sport
- News18
Antonio Conte's Strained Relationship With Napoli Owner Might Result In End Of Stint
Last Updated: Antonio Conte has led Napoli to the Serie A title, but his future is uncertain because of tensions with owner Aurelio De Laurentiis. Italy's Antonio Conte has pulled Napoli back from the brink and restored them to the top of the Serie A, but his future with the team remains uncertain despite a successful season. Napoli lifted the title for just the fourth time in their history, but all might not be well in the backroom. Conte has gone past pre-season expectations and solidified his reputation as a consistent winner by leading Napoli to the title, their second in three seasons. Unfortunately, Conte might leave this summer after only one season, as his strained relationship with the team owner Aurelio De Laurentiis has kept flaring up throughout the season. Il PHILADELPHIA COACH OF THE SEASON È: ANTONIO CONTE! 👑 🏆 — Lega Serie A (@SerieA) May 23, 2025 Conte has expressed his dissatisfaction with how De Laurentiis, known for his problematic relationships with the managers, runs Napoli during the important final weeks of the title race. Conte has said that if the team doesn't meet his expectations in the summer, with the more challenging Champions League campaign ahead, he will consider leaving. 'You have to live in the present… the people want to win and are ambitious. I'm open to everything, but we need to see where we are," Conte had said in April. The Italian coach took charge in 2024 with the team reeling from the worst Serie A title defence in history and the stars of that win, striker Victor Osimhen and winger Khvicha Kvaratskhelia, looking to leave. 'I'm happy in Naples, and I'm working for fans who give me something emotionally. That's very important. But you know that whoever hires me knows that I bring with me expectations," Conte had said. 'People hire me and think 'you have to finish first or second, even if you finished 10th the year before, and you have to fight for the title, qualifying for Europe isn't enough," Conte added. First Published: May 24, 2025, 09:04 IST
Washington Post
06-04-2025
- Sport
- Washington Post
Phillies pitching prospect Andrew Painter set to make minor league start in return from injury
PHILADELPHIA — Philadelphia Phillies' prized pitching prospect Andrew Painter is set on Friday to make a minor league start for the first time since 2022 in his recovery from elbow surgery. Painter, who turns 22 this week, hurt his elbow during spring training in 2023 and had Tommy John surgery later that year.
Washington Post
05-04-2025
- Sport
- Washington Post
Phillies hand Dodgers their first loss of the season
PHILADELPHIA — Jesús Luzardo followed up his sensational Phillies' debut with two-hit ball and eight strikeouts over seven shutout innings in Philadelphia's 3-2 win over Los Angeles on Friday night that ended the Dodgers' undefeated start. The World Series champion Dodgers won their first eight games and were just two wins shy of matching the Brooklyn Dodgers in 1955 for the best start in franchise history.
Washington Post
12-03-2025
- Sport
- Washington Post
Tkachuk, Amadio pace Senators in 5-2 win over Flyers
PHILADELPHIA — Brady Tkachuk scored 24 seconds into the game, Michael Amadio scored the go-ahead goal and the Ottawa Senators beat the Philadelphia Flyers 5-2 on Tuesday night. Tkachuk scored on the opening shift of the game, one-timing a pass from former Flyer Claude Giroux past Ivan Fedotov for his 27th of the season and the 400th point of his NHL career.
