NYSE$AXTA
Axalta Coating Systems · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Axalta's Q4 2022 earnings were released, showing growth in net sales and adjusted EBIT.
Axalta Coating Systems reported a strong fourth quarter with earnings at the top of their guidance range, driven by pricing momentum and volume growth, especially in Mobility Coatings. Net sales increased by 8.7% year-over-year, and adjusted EBIT rose by 21.7%.
- Volumes grew 2.4% year-over-year, with market recovery in Mobility Coatings offsetting softer demand in Industrial.
- Price-mix increased by 11.7% year-over-year and 3.2% sequentially.
- Income from operations increased by 15.9% to $109.8 million, while adjusted EBIT rose by 21.7% to $147.2 million.
- Adjusted diluted EPS increased to $0.38 from $0.30 in Q4 2021.
Headline financials
Revenue & EPS history
Axalta · Revenue · Quarterly
$1.24B
Revenue by segment
Axalta · $1.31B total across 2 segments · Q3 2023
- Performance Coatings$856M—65.4%
- Mobility Coatings$453M—34.6%
Forward guidance
Axalta anticipates continued momentum in Refinish, steady quarterly progress in Mobility Coatings, and modest deflation in elevated upstream commodities. They expect meaningful year-over-year growth given carry over pricing, market recovery, and a stabilizing cost environment.
Tailwinds
- Momentum to continue in Refinish after record 2022 profitability
- Softer Industrial markets to be balanced by contribution from price-cost normalization and share gains
- Anticipate steady quarterly progress throughout 2023 vs. Q4 EBIT run-rate in Mobility Coatings
- Expect modest deflation in elevated upstream commodities
- Expect meaningful YoY growth given carry over pricing, Refinish and Mobility market recovery, and stabilizing cost environment
Headwinds
- Anticipate typical seasonal Refinish volume decline to result in lower Performance Coatings EBIT sequentially from Q4 2022 despite improving Industrial contribution
- Stabilizing raw material environment with pressure anticipated to continue in specialties, labor and energy
- Expect high-single-digit % YoY raw material headwind in Q1 2023
- Potentially softer Industrial markets
- Expect currency headwinds
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
+1.2%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+2.7%
Avg return
30 days after
60%
29 / 48 earnings
Positive
+14.1%
Q3 2017
Best reaction
-11.1%
Q2 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +8.8% | -3.7% | +9.1% | |
| Q4 2025 | +0.6% | -0.2% | -18.6% | |
| Q3 2025 | +2.3% | -2.0% | +2.4% | |
| Q1 2025 | -4.7% | -1.7% | -7.7% | |
| Q4 2024 | +8.3% | +6.0% | +0.9% | |
| Q3 2024 | +7.1% | +7.5% | +14.3% | |
| Q2 2024 | -1.2% | -4.5% | +2.4% | |
| Q1 2024 | +10.8% | +12.8% | +13.2% | |
| Q4 2023 | -3.7% | -5.8% | +1.8% | |
| Q3 2023 | +10.6% | +11.9% | +22.7% | |
| Q2 2023 | -7.8% | -9.5% | -11.6% | |
| Q1 2023 | -5.3% | -4.0% | -5.0% | |
| Q4 2022 | +4.5% | +7.3% | +5.6% | |
| Q3 2022 | +1.1% | +1.2% | +13.6% | |
| Q2 2022 | -5.4% | -3.0% | -0.2% | |
| Q1 2022 | +5.5% | +2.0% | +4.0% | |
| Q4 2021 | +0.7% | -7.5% | -12.6% | |
| Q3 2021 | -3.2% | -4.6% | -0.4% | |
| Q2 2021 | +4.3% | +3.9% | +7.8% | |
| Q1 2021 | -0.2% | -1.9% | -3.0% | |
| Q4 2020 | +1.7% | +6.8% | +8.1% | |
| Q3 2020 | +4.3% | +2.4% | +10.1% | |
| Q2 2020 | -3.4% | -3.0% | +5.6% | |
| Q1 2020 | -3.6% | +2.5% | +28.1% | |
| Q4 2019 | +2.5% | +5.8% | -11.3% | |
| Q3 2019 | +3.0% | +3.9% | -1.9% | |
| Q2 2019 | +2.3% | +0.4% | -11.4% | |
| Q1 2019 | -3.3% | -1.9% | -11.5% | |
| Q4 2018 | +0.3% | +1.0% | +5.6% | |
| Q3 2018 | -0.6% | -4.0% | -1.1% | |
| Q2 2018 | +1.7% | +1.1% | +0.6% | |
| Q1 2018 | +3.5% | +4.0% | +9.1% | |
| Q4 2017 | +1.5% | +2.5% | +9.0% | |
| Q3 2017 | +14.1% | +14.4% | +24.6% | |
| Q2 2017 | -11.1% | -10.5% | -7.2% | |
| Q1 2017 | -0.7% | -1.8% | -1.4% | |
| Q4 2016 | +0.3% | +1.0% | +6.4% | |
| Q3 2016 | -1.3% | -1.0% | +4.7% | |
| Q2 2016 | +1.4% | -0.1% | -1.2% | |
| Q1 2016 | -4.2% | — | — | |
| Q4 2015 | +7.8% | — | — | |
| Q3 2015 | -0.2% | — | — | |
| Q2 2015 | -3.3% | — | — | |
| Q2 2014 | -3.3% | — | — | |
| Q1 2014 | +4.2% | — | — | |
| Q4 2014 | +4.2% | — | — | |
| Q1 2015 | +4.8% | — | — | |
| Q3 2014 | +3.9% | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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