Axalta Q1 Report 2024
- 4% net sales growth YoY in Refinish and Light Vehicle
- Net sales growth driven by Refinish and Light Vehicle, partially offset by lower volumes in Industrial and Commercial Vehicle
- $1.3B Net Sales +1% YoY
- 20% Adjusted EBITDA margin
- Adjusted EBITDA and margin expansion driven by growth and variable cost deflation which more than offset higher labor expenses
- 20.0% Adjusted EBITDA Margin +340 bps YoY
- Expanded Adjusted EBITDA and diluted EPS by 22% and 37% respectively YoY
- $0.48 Adjusted Diluted EPS +37% YoY
- Further strengthened balance sheet – paid down $75 million of debt and repriced term loan
- Recognized With Multiple Prestigious R&D Awards Announced Transformation Initiative Estimated $75M annual run rate savings expected in 2026 Received awards for innovative and sustainable solutions associated with the launch of Irus Mix, Raptor™ Flameproof, and Voltatex™
