Axalta Coating Raises FY24 Adj EPS Outlook To $1.90 - $2.00, Up From $1.80 - $1.95 Prior, Vs. $1.89 Estimate
Portfolio Pulse from Benzinga Newsdesk
Axalta Coating has increased its FY24 adjusted EPS outlook to $1.90 - $2.00, up from the previous $1.80 - $1.95, surpassing the $1.89 estimate. The company expects Q2 2024 net sales growth of 3% - 5% and a low single-digit increase for the full year. Adjusted EBITDA is projected at approximately $275 million for Q2 and between $1,050 - $1,080 million for FY24. The adjusted diluted EPS for Q2 is estimated at around $0.50, with free cash flow projected between $425 - $475 million for the full year.
May 01, 2024 | 10:11 am
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Axalta Coating has raised its FY24 adjusted EPS forecast to $1.90 - $2.00, exceeding analyst expectations. This positive adjustment reflects anticipated growth in net sales and operational efficiency.
The upward revision of Axalta's EPS outlook for FY24 suggests a strong financial performance and operational efficiency, likely leading to increased investor confidence and a positive impact on the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100