Axalta Coating Systems (NYSE: AXTA) reported Q2 EPS of ($0.15), $0.04 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $652.7 million versus the consensus estimate of $627.08 million.

Financial Guidance Update

Forecast visibility remains limited, but we are updating discrete guidance elements as follows:

• Q3 net sales: Expected to be down ~15-20% compared to Q3 2019 including 1% negative impact from FX
• FY diluted shares: ~236 million
• FY capex: ~$80 million (50% lower than January guidance)
• FY interest expense: ~$150 million

For earnings history and earnings-related data on Axalta Coating Systems (AXTA) click here.