Axalta Coating Systems: Q2 Earnings Snapshot

PHILADELPHIA (AP) — PHILADELPHIA (AP) — Axalta Coating Systems Ltd. (AXTA) on Tuesday reported second-quarter earnings of $89 million.

On a per-share basis, the Philadelphia-based company said it had profit of 41 cents. Earnings, adjusted for non-recurring costs, came to 72 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The high-performance coating system maker posted revenue of $1.35 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.32 billion.

For the current quarter ending in September, Axalta Coating Systems expects its per-share earnings to be 70 cents.

The company expects full-year earnings in the range of $2.55 to $2.70 per share.

Axalta Coating Systems shares have increased slightly more than 4% since the beginning of the year. The stock has risen 14% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTA at https://www.zacks.com/ap/AXTA