Axalta announces $1.35 billion Q2 revenue and sets record adjusted EBITDA
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- Axalta (NYSE:AXTA) reported second-quarter 2026 net sales of $1.35 billion, an increase of 3% year-over-year that surpassed Wall Street estimates of $1.31 billion.
- The global coatings company achieved a quarterly record adjusted EBITDA of $305 million and an adjusted EPS of $0.72, beating the analyst consensus of $0.65.
- Axalta shares rose over 2% in pre-market trading, and the company highlighted its upcoming August 5 shareholder vote on the proposed merger with AkzoNobel.
Axalta (NYSE:AXTA) reported its financial results for the second quarter of 2026, delivering net sales of $1.35 billion.
This represented a 3% increase compared to the prior-year period, driven by favorable foreign exchange translation, contributions from acquisitions, and a positive price mix.
The revenue figure topped analyst forecasts of $1.31 billion.
While the company posted a GAAP net income of $89 million—down $21 million largely due to $31 million in incremental merger and acquisition costs—its adjusted metrics hit quarterly records.
Adjusted net income rose 10% to $153 million.
Axalta generated a record adjusted EBITDA of $305 million, reflecting a robust 22.7% margin, and reported a record adjusted diluted earnings per share (EPS) of $0.72.
This EPS result comfortably beat the analyst consensus estimate of $0.65, sending the stock up 2.13% in early pre-market trading.
Growth was solid across Axalta's primary business segments.
Performance Coatings grew net sales by 4% to $872 million, while its adjusted EBITDA increased by 10% to achieve a 25.1% margin.
Mobility Coatings also delivered record quarterly net sales of $474 million and posted $87 million in adjusted EBITDA, an 18.4% margin.
The company maintained strong liquidity, generating $107 million in free cash flow (up 6% year-over-year) and reducing its total net leverage to 2.2x, the lowest in Axalta's history.
Looking ahead, management highlighted the Special General Meeting scheduled for August 5, 2026, where shareholders will vote on the proposed merger of equals with AkzoNobel.
Axalta also provided its financial guidance, projecting third-quarter 2026 adjusted EBITDA between $295 million and $305 million.
For the full year 2026, the company expects adjusted EBITDA in the range of $1.14 billion to $1.17 billion and free cash flow exceeding $500 million.
