Axalta Coating (AXTA) shares soared 5.57% in intraday trading on Tuesday, extending pre-market gains that followed the release of strong second-quarter financial results.
The coatings manufacturer reported adjusted earnings per share of $0.72, surpassing the consensus estimate of $0.65. Net sales rose 3.1% to $1.35 billion, beating the $1.31 billion forecast. The company attributed the sales growth to favorable price mix, foreign currency translation, and contributions from acquisitions. Adjusted net income also benefited from reduced operating expenses and lower interest expense.
For the third quarter, Axalta expects adjusted diluted EPS of approximately $0.70, with low single-digit year-over-year net sales growth. Full-year 2026 adjusted EPS guidance was set at $2.55 to $2.70, compared to analyst expectations of $2.61. The market reacted positively to the top-and-bottom-line beat and the company's record quarterly adjusted EBITDA and adjusted diluted EPS.
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