Quarterly ResultJul 29, 2026, 12:11 PM
Axalta Q2 Net Sales $1.35B, EPS $0.41; AkzoNobel Merger Progresses
AI Summary
Axalta Coating Systems Ltd. reported mixed financial results for Q2 and H1 2026, with net sales increasing but diluted net income per share declining compared to the prior year. The company also provided updates on its proposed all-stock merger with AkzoNobel N.V., including two amendments to the merger agreement and a scheduled shareholder vote on August 5, 2026. Cash provided by operating activities improved significantly, and the company reduced its long-term borrowings by prepaying $125 million of its 2029 Dollar Term Loans.
Key Highlights
- Merger with AkzoNobel N.V. progressing, with shareholder vote scheduled for August 5, 2026.
- Q2 2026 net sales increased to $1,346 million from $1,305 million year-over-year.
- Q2 2026 diluted net income per share decreased to $0.41 from $0.50 year-over-year.
- Six months 2026 net sales increased to $2,600 million from $2,567 million year-over-year.
- Six months 2026 diluted net income per share decreased to $0.84 from $0.95 year-over-year.
- Cash provided by operating activities for H1 2026 increased to $220 million from $168 million year-over-year.
- Prepaid $125 million of 2029 Dollar Term Loans during the first six months of 2026.
- Total long-term borrowings decreased to $2,549 million from $3,179 million since December 31, 2025.
Price Impact
More from AXTA