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TERRENCE HAHN TO JOIN AXALTA AS CHIEF EXECUTIVE OFFICER
Axalta Second Quarter
2018 Results Conference Call
July 25, 2018
Charles W. Shaver, Chairman and Chief Executive Officer, and Robert W. Bryant, Executive Vice President and Chief Financial Officer, review the company's financial performance for the period on July 26, 2018 from 8:00 a.m. to 9:00 a.m. EDT. A live webcast of the conference call is available online here. The U.S. dial-in phone number for the conference call is 877-407-0784 and the international dial-in number is +1-201-689-8560.
After the call, an archived webcast of the conference call will be available online at www.axalta.com/investorcall. A replay of the call will also be available. The U.S. replay dial-in number is 844-512-2921 and the international replay dial-in number is +1-412-317-6671. The replay passcode is 1367 8895.
Featured Investor News
Axalta Releases Second Quarter 2018 Results
Second Quarter 2018 Highlights:
- Net sales of $1,206.5 million increased 10.8% year-over-year including acquisition contribution of 5.6%
- Net income attributable to Axalta of $74.9 million versus a net loss of $20.8 million in Q2 2017; Adjusted net income attributable to Axalta of $87.1 million versus $75.4 million in Q2 2017
- Adjusted EBITDA of $247.6 million versus $227.2 million in Q2 2017
- Ramped up share repurchases in Q2; $100.5 million repurchased at a weighted average price of $30.73
- General business conditions consistent with first quarter; consolidated price recapture sequentially improved, led by Performance Coatings segment
PHILADELPHIA, PA, July 25, 2018 - Axalta Coating Systems Ltd. (NYSE:AXTA) (“Axalta”), a leading global coatings company, announced its financial results for the second quarter ended June 30, 2018.
Axalta Inaugurates New Coating Manufacturing Facility in India
On April 4, 2018, Axalta inaugurated its new coating manufacturing plant at Savli, Vadodara in Gujarat, India. Approximately 70 guests, including local government officials, customers, university representatives, media, and employees attended the opening ceremony, over which Axalta Chairman and CEO Charlie Shaver presided.The 5,200 square meter plant is part of Axalta’s Savli manufacturing site that produces Axalta coatings for refinish, automotive parts, and commercial vehicle customers. The new plant will double Axalta’s coating manufacturing capacity to meet the growing demand for coatings in light vehicles, commercial vehicles, and industrial segments. Read More
Barry Snyder, Axalta Chief Technology Officer, Explains How Coatings Will Enable an Autonomous Future
On March 14, Barry Snyder, Axalta’s Senior Vice President and Chief Technology Officer, addressed more than 300 autonomous vehicle professionals at the Autonomous Car Detroit conference. Snyder’s discussion focused on how coatings are a vital enabler to the future of autonomous vehicles and how Axalta is working on innovative solutions that will comply with autonomous vehicle requirements. “Reflectivity and transmissivity are key pieces to the puzzle we need to solve, and we have technology available to address some of these issues,” he said during the standing-room-only presentation. Read More
Axalta Strengthens Presence In Sport, Returns As Official Partner of NASCAR
NASCAR and Axalta announced a multi-year agreement making Axalta, once again, the “Official Paint Partner of NASCAR.” “Our affiliation with NASCAR runs deep,” said Charles Shaver, Chairman and CEO, Axalta. “We were the Official Finish for nearly 20 years before taking some time to strategically develop our program. Today, with this new agreement, we can grow our reach and leverage partnerships throughout the sport for business development opportunities with like minded companies who need or use coatings. Motorsports represents all the things we see in ourselves; team work, high performance, a drive to be better, and winning!” Read More
Axalta Announces its 2017 Supplier of the Year Winners
Axalta Coating Systems announced its 2017 Supplier of the Year award winners. The award recognizes top suppliers who went above and beyond expectations to ensure that Axalta provides exceptional products to customers every day.This year’s winners are: Altana, Asahi Kasei Group, Chemours, Eastman Chemical Company, Element Fleet Management, HCL Technologies, LyondellBasell, Oxiteno, Rhenus Group, Rianlon Corporation, and Wanhua Chemical.
Why self-driving cars will likely be light-colored
In these early days of self-driving cars, automakers may favor light colors, such as white and silver, to make vehicles safer and more affordable. Our global color marketing manager Nancy Lockhart explains. Read More
Axalta Unveils Modern and Tech-savvy StarLite as its Automotive Color of the Year 2018
Axalta announced the release of StarLite, its 2018 Automotive Color of the Year. StarLite is a modern, technology-savvy, premium color for vehicles of today and tomorrow. Borne from Axalta’s ChromaDyne™ line of color coats developed for automotive OEMs, StarLite is a light and reflective hue that uses Axalta’s tri-coat process which is formulated with synthetic pearl flakes to create an eye catching pearlescent effect. It is a sophisticated color that is designed to look great on all vehicle sizes while also providing functional benefits.Read More
Axalta’s 65 th Annual Global Automotive 2017 Color Popularity Report Reveals White as Number One Color Choice Worldwide
Axalta released the findings of its 65th annual Global Automotive Color Popularity Report, which shows white as the worldwide leader in consumer vehicle color choice in 2017, followed by black in second place at 16 percent, and gray and silver tied in third place for the second consecutive year at 11 percent..Read More
Meet Your Match
Thanks to Axalta’s new apps, customers will have no trouble finding the right match, right away.Axalta’s new General Industrial Product System Selector app allows North American general industrial customers to efficiently specify their project criteria by searching for products based on industry segment, item to be painted, the environment, substrate, surface condition, and even volatile organic compound (VOC) levels. With thousands of possible product combinations available, the app quickly provides product recommendations that meet project specifications.Read More
Axalta Schedules 2018 Financial Outlook Conference Call
Axalta Coating Systems Ltd. (NYSE: AXTA) will host a conference call to review its 2018 Financial Outlook at 10:00 a.m. ET on Thursday, December 14, 2017. Robert W. Bryant, EVP and CFO, and Chris Mecray, VP of IR, will review key aspects of the company's financial outlook for 2018 and take questions.The U.S. dial-in phone number for the conference call is 877-407-0784 and the international dial-in number is +1.201.689.8560. A live webcast of the conference call will also be available online at www.axaltacs.com/InvestorCall.
Axalta and AkzoNobel End Merger of Equals Discussions
Axalta confirmed that its previously announced talks with AkzoNobel have ended regarding a potential merger of equals transaction between Axalta and Akzo’s Paints and Coatings business, as the companies were unable to reach mutually agreeable terms. Axalta continues to pursue other value-creating alternatives.
Axalta Demonstrates Pipeline Solutions at 2017 AMI Pipeline Coating Conference
Axalta will present its Nap-Gard® fusion bonded epoxy powder coatings at the Applied Market Information (AMI) 2017 Pipeline Coating Conference on November 14-15, 2017 at the Hilton Post Oak Hotel in Houston, Texas. During the conference, Dustin Traylor, Axalta Global Functional Product Manager, will host an informational session for the many leading pipeline businesses and professionals in attendance.
Axalta Expands Industrial Product Line with Durable Corlar Epoxy Primer
Axalta introduces the Corlar® LV PR 178 Series Epoxy Primer to its portfolio of innovative coating products for the industrial market. Corlar LV PR 178 Epoxy Primer is designed to deliver exceptionally strong adhesion and outstanding corrosion resistance for use on properly prepared substrates in oil refineries, off-shore platforms, construction equipment, metal fabrication, and oil and gas industry machinery.
Axalta Releases Tufcote Hi-Heat Silicone Alkyd Coatings to the Industrial Market
Axalta has announced the expansion of its Tufcote™ product line to include Tufcote 3.5 HH silicone alkyd direct-to-metal (DTM) topcoats for the economy industrial market. These high temperature-resistant products complement Axalta’s cost-effective line of Tufcote finishes. When properly applied, the DTM silicone coating provides maximum heat resistance to surfaces such as smoke stacks, boiler fronts, and mufflers that are exposed to high operating temperatures over extended periods of time.
Axalta and Mercedes-AMG Petronas Motorsport Celebrate Win at Singapore Grand Prix
Under the lights of the Singapore Marina Bay Street Circuit, the two Silver Arrows of Mercedes-AMG Petronas Motorsport gleamed for two hours as they fought a great 2017 Formula OneTM Singapore Airlines Singapore Grand Prix, which took place on September 17, 2017. Lewis Hamilton won his third consecutive race of the 2017 season, to maintain his lead in the FIA Formula OneTM World Drivers’ Championship and the team’s lead in the FIA Formula OneTM World Constructors’ Championship.Read More
Axalta Introduces Latest Addition to Internal Pipe Coatings Portfolio
Axalta is pleased to introduce its latest addition to the corrosion resistant internal pipe coatings line from the Nap-Gard® Functional Coatings collection. Nap-Gard 7-0015 Tan Internal FBE is a thermosetting epoxy powder designed to pass the Saudi Aramco 09-SAMSS-091 (2011) specification.Read More
Axalta Coats Field Goal Posts for Philadelphia Eagles
Axalta has given the field goal posts at Lincoln Financial Field, home to the Philadelphia Eagles, a new look for the start of the football season with its premier industrial coating. Alesta® Polyester Architectural AE Gloss RAL 1016 in Sulfur Yellow has been selected as the color and product of choice due to its high-performance coverage, durability, and functionality.