Axalta Coating Systems Ltd.: Initiation Of Coverage – Increased focus on efficiency and productivity paying off?

Axalta Coating Systems recently disclosed its financial performance for the second quarter of 2024,
showcasing record-breaking results in the face of challenging market conditions. The company reported a
4% rise in net sales, reaching $1.35 billion, with a significant boost in volumes across all end markets.
Additionally, adjusted EBITDA increased notably by $64 million year-over-year to $291 million, reflecting a
400 basis-point improvement in margins to 21.5%. This improvement was largely attributed to material cost
management and disciplined capital returns.