Toronto, Ontario — Axalta Coatings has now released its third quarter financial results, noting a record net sales of $1.32 billion.
According to a press release of the results, other highlights from the company’s third quarter include net income increases of 40 percent year over year to $102 million and a record adjusted EBITDA of $291 million.
Additionally, Axalta further noted that when looking at specific segments, “Performance Coatings’ third quarter 2024 net sales were $877 million, up two percent compared to the prior year period. Refinish net sales grew five percent year over year to $554 million as contribution from the CoverFlexx acquisition and net new bodyshop wins were partially offset by mix headwinds and lower bodyshop activity.”
Similarly, “Mobility Coatings’ third quarter 2024 net sales were $443 million, a decrease of two percent from the prior year period. Light vehicle net sales were flat year over year as five percent volume growth was offset by contractual raw material pass-through impacts and a modest foreign exchange translation headwinds.”
Chris Villavarayan, CEO and president of Axalta commented that “our results in the third quarter were exceptional. I am extremely proud of the commitment and dedication from each of our employees to deliver a record third quarter for the company in net sales and adjusted EBITDA, despite macroeconomic headwinds in all four end markets. As One Axlata, we are successfully executing on our 2026 A Plan and outperforming against key industry benchmarks as we remain dedicated to unlocking our full earnings potential.”
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