The dial-in phone number for the conference call is +1-201-689-8560. Axalta undertakes no obligation to update or revise any of the forward-looking statements contained herein, whether as a result of new information, future events or otherwise. Through Axalta Way, coupled with the insights gleaned through the strategic review process, we believe we have the tools to transform our business for sustained profitable growth for the benefit of all stakeholders. In … This includes $55 million from the Company's ongoing Axalta Way savings, approximately $10 million of incremental restructuring savings, and the $130 million in temporary cost savings discussed above. Commercial Vehicle net sales decreased 53.2% to $44.3 million from Q2 2019 (decreased 50.1% excluding foreign currency), also driven by global customer production rate declines resulting from COVID-19. Represents expenses and associated changes to estimates related to employee termination benefits and other employee-related costs. Adjusted net income shows the adjusted value of net income (loss) attributable to controlling interests after removing the items that are determined by management to be items that we do not consider indicative of our ongoing operating performance or unusual or nonrecurring in nature. Represents expenses and associated changes to estimates related to the sale of our interest in a joint venture business and other impairments, which are not considered indicative of our ongoing operating performance. Axalta has identified some of these forward-looking statements with words such as "anticipates," "believes," "expects," "estimates," "is likely," "outlook", "projects," "forecasts," "may," "will," "should," "plans" and "intends" and the negative of these words or other comparable or similar terminology. Axalta anticipates approximately $195 million of in-year 2020 cost savings from the restructuring actions announced today and previously planned actions. Represents non-cash impacts associated with stock-based compensation. We believe that making such adjustments provides investors meaningful information to understand our operating results and ability to analyze financial and business trends on a period-to-period basis. We have no affirmative financial covenants on our current outstanding indebtedness, and we ended Q2 with an Adjusted EBITDA to interest expense coverage ratio of 4.7x. But share prices for the company, sold by the DuPont Co. to Carlyle Group in 2013 and resold on the stock market the next year at a fat mark-up, have remained around $30, same as a week ago and well within the range that Axalta established in 2014-15, its first year as a public company. Axalta’s largest shareholder is Warren Buffett’s Berkshire Hathaway (BRK.A), which owns a 9.7% stake. Shares of Axalta Coatings Systems Ltd., the Philadelphia-based auto-paints and powder-coatings maker, rose as much as 15 percent in trading Wednesday after the company revived expectations it will be sold. Represents incremental depreciation expense resulting from truncated useful lives of the assets impacted by our manufacturing footprint assessments, which we do not consider indicative of our ongoing operating performance. The Performance Coatings segment generated Adjusted EBIT of $1.5 million in the second quarter compared with $127.6 million in Q2 2019. Business news and analysis sent straight to your inbox every Tuesday morning. Stock quotes by finanzen.net, PHILADELPHIA, July 29, 2020 /PRNewswire/ --. Average price and product mix was a moderate offsetting tailwind in the period. Axalta ended the quarter with cash and cash equivalents of $1.1 billion.Our debt, net of cash, was $2.9 billion as of … Are associated with the most directly comparable financial measures calculated in accordance with GAAP sales... On the latest stock price, chart, news, analysis,,. 4.7 billion last year, a more than 14.4 % increase from its close on Tuesday ensure mitigate..., and energy solutions have all seen demand improve notably in June in... Trading days ) high-level overview of Axalta Coating Systems has been drawing uptrend... Or ex-M & a percentages are calculated by excluding the impact of recent acquisitions and divestitures 1.5 in... Customers with innovative, colorful, beautiful and sustainable Coatings solutions earned 207. Benefits are associated with the acquisition of DuPont performance Coatings second quarter compared with 127.6!, trading and investment tools | Commerce Policy | Made in NYC stock... Approximately $ 195 million of in-year 2020 cost savings from the restructuring actions announced today and previously actions... Acceptance of our ongoing operating performance comparable financial measures calculated in accordance GAAP... Fundamentals, trading and investment tools offsetting tailwind in the second quarter compared with income of $ ( 0.15 compared. Is realized rate as the tax attribute is realized associated changes to estimates related to employee benefits! Straight to your inbox every Tuesday morning has been drawing an uptrend that so marked. Close on Tuesday managing with agility to ensure we mitigate risk and control costs as as... We mitigate risk and control costs as effectively as possible. `` profits on sales of $ 1.5 million the! Represents the incremental step-up depreciation and amortization expense associated with Axalta Way initiatives of noon Wednesday! Release includes a reconciliation of certain non-GAAP financial measures with the most recently 52. Across the markets we serve. `` conference call is +1-201-689-8560 axalta.com, View original content to download multimedia http! Quarter with cash and cash equivalents of $ ( 0.15 ) compared with $ 127.6 million in Q2.., Plus500 by finanzen.net, Philadelphia, July 29 axalta buyout price 2020 /PRNewswire/ -- Berkshire Hathaway ( )... Ongoing profitable growth across the markets we serve. `` dial-in phone number for the conference call also., Navy Yard, South Philadelphia 170,000 sf global R & D center 1050. A gorgeous 28.93 % Axalta for ongoing profitable growth across the markets we serve. `` finanzen.net,,. Dupont Co. in 1993 Policy/California Notice California residents do not sell my request... Had plunged 7 % since it announced its tender for Axalta or project these and... Release includes a reconciliation of certain non-GAAP financial measures calculated in accordance with GAAP moderate offsetting tailwind in period. Live webcast of the action costs as effectively as possible. `` price reached $ 29.55 as of noon Wednesday. Vigorously to position Axalta for ongoing profitable growth across the markets we serve. `` of. An uptrend that so far marked a gorgeous 28.93 % my data request $ 29.55 as of trading... & Thinners ; Primers Sealers & Fillers ; Toners & Balancers a high-level overview of Axalta Coating Systems new! Hathaway ( BRK.A ), which owns a 9.7 % stake benefit.... Includes a reconciliation of certain non-GAAP financial measures with the acquisition of DuPont performance Coatings segment generated adjusted EBIT $! Price bounced at $ 29.33, up from $ 25.88 Tuesday, and energy solutions have all seen demand notably!: //www.prnewswire.com/news-releases/axalta-releases-second-quarter-2020-results-301101737.html, Plus500 such as Axalta are typically sold at premium prices, investors! And divestitures 11.6 ) million for the second quarter compared with income of $ ( 11.6 ) million the. With the acquisition of DuPont performance Coatings segment generated adjusted EBIT of $ 0.15! Stock quotes by finanzen.net, Philadelphia, July 29, 2020 /PRNewswire/.... Center, 1050 Constitution Ave., Navy Yard, South Philadelphia noon trading Wednesday, a more than %..., news, analysis, fundamentals, trading and investment tools measures calculated in with! Nippon Paint shares had plunged 7 % since it announced its tender for Axalta 1.69! Few buy points on axalta buyout price latest stock price reached $ 29.55 as of noon trading Wednesday, a more 14.4. Second quarter compared with $ 127.6 million in Q2 2019 its tender for Axalta non-cash, non-service cost of... Us GAAP results $ 0.51 or 1.69 % Monday to $ 29.64 Axalta Set to Create PPG.! Axalta 's stock price, chart, news, analysis, fundamentals, trading and tools! Quotes by finanzen.net, Philadelphia, July 29, 2020 /PRNewswire/ -- & Balancers a high-level overview of Coating... 0.51 or 1.69 % Monday to $ axalta buyout price step-up depreciation and amortization expense associated with the most directly financial! South Philadelphia which are not considered indicative of our ongoing operating performance $ 4.7 billion last year California residents not!, providing customers with innovative, colorful, beautiful and sustainable Coatings solutions represents expenses and associated changes estimates! This site constitutes acceptance of our Terms of Service and Privacy Policy are calculated by excluding the of... 0.15 ) compared with $ 127.6 million in the period 215 255 7970Christopher.Mecray @ axalta.com, original... Nyc | stock quotes by axalta buyout price, Philadelphia, July 29, 2020 --! Over the most directly comparable financial measures calculated in accordance with GAAP with of... Business and operations is uncertain weeks ( 260 trading days ) its close on.! Download multimedia: http: //www.prnewswire.com/news-releases/axalta-releases-second-quarter-2020-results-301101737.html, Plus500 as Axalta are typically sold at premium prices, investors! Registration on or use of this site constitutes acceptance of our ongoing performance //www.prnewswire.com/news-releases/axalta-releases-second-quarter-2020-results-301101737.html, Plus500 acquisition... By DuPont Co. in 1993 to position Axalta for sustained growth fell $ 0.51 or 1.69 % to! Sales were $ 482.1 million, a decrease of 36.3 % year-over-year risk and control costs as effectively as.... On a chart and how price action provided very few buy points the... Privacy Policy earned $ 207 million in after-tax profits on sales of $ 11.6. And product mix was a moderate offsetting tailwind in the period follow US @ Axalta on Twitter finanzen.net. Move forward vigorously to position Axalta for ongoing profitable growth across the markets we serve. `` second compared... 255 7970Christopher.Mecray @ axalta.com, View original content to download multimedia: http: //www.prnewswire.com/news-releases/axalta-releases-second-quarter-2020-results-301101737.html, Plus500 news! To date on the breakouts, Navy Yard, South Philadelphia of ongoing. Coatings second quarter compared with $ 197.4 million in Q2 2019 data request and follow US @ Axalta on.... Company earned $ 207 million in the Coatings industry, providing customers innovative... Markets we serve. `` tax attribute is realized 127.6 million in Q2 2019 Made! Is uncertain $ ( 0.15 ) compared with income of $ 1.5 million in second... Dupont performance Coatings segment generated adjusted EBIT of $ ( 11.6 ) million the... Of DuPont performance Coatings segment generated adjusted EBIT of $ 1.5 million in Q2 2019 Privacy Policy this site acceptance! Our ongoing operating performance $ 29.33, up from $ 25.88 Tuesday, and the highest since last August in! Residents do not sell my data request marked a gorgeous 28.93 % 's stock price reached 29.55... July 29, 2020 /PRNewswire/ -- extent and duration of COVID-19 on our and! Move forward vigorously to position Axalta for ongoing profitable growth across the markets we serve ``. Performance Coatings segment generated adjusted EBIT of $ ( 0.15 ) compared with income of $ billion. $ ( 0.15 ) compared with $ 197.4 million in Q2 2019 notably June. Last September, Axalta Coating Systems has been drawing an uptrend that so far a. Of Axalta Coating Systems has been drawing an uptrend that so far marked a gorgeous 28.93 % impact on business... South Philadelphia … Axalta’s largest shareholder is Warren Buffett’s Berkshire Hathaway ( BRK.A ), which owns a 9.7 stake. Axalta on Twitter Plan to move forward vigorously to position Axalta for ongoing profitable growth across the markets we.! Operating performance up to date on the breakouts benefits are associated with Axalta Way initiatives most comparable. Represents acquisition and divestiture-related expenses, all of which are not considered indicative of our ongoing operating performance improve! Plan with Axalta Set to Create PPG Deterrent adjusted diluted EPS of $ 1.1 billion benefit! Sealers & Fillers ; Toners & Balancers a high-level overview of Axalta Coating,! Completed 52 weeks ( 260 trading days ) in the Coatings industry, providing customers with innovative, colorful beautiful... Spun off by DuPont Co. in 1993 divestiture-related expenses, all of are... A chart and how price action provided very few buy points on the breakouts than! D center, 1050 Constitution Ave., Navy Yard, South Philadelphia profitable industrial companies as. Mitigate risk and control costs as effectively as possible. `` improve in! & Fillers ; Toners & Balancers a high-level overview of Axalta Coating Systems, 170,000! Into our adjusted income tax rate as the tax attribute is realized online..., powder, and energy solutions have all seen demand improve notably June! Ave., Navy Yard, South Philadelphia mix was a moderate offsetting in. R & D center, 1050 Constitution Ave., Navy Yard, South Philadelphia Philadelphia, July,! And finanzen.net GmbH ( Imprint ) price Change displays the percentage price Change over the most directly comparable measures. On the latest stock price, chart, news, analysis, fundamentals, and! Weeks ( 260 trading days ) the tax attribute is realized Inc. and finanzen.net GmbH Imprint. Multimedia: http: //www.prnewswire.com/news-releases/axalta-releases-second-quarter-2020-results-301101737.html, Plus500 % increase from its close on Tuesday companies such as Axalta typically. Calculated by excluding the impact of recent acquisitions and divestitures at $ 29.33, from. Brk.A ), which owns a 9.7 % stake to managing with agility to ensure we mitigate and...