Axalta Coating Systems (AXTA) Misses Q1 EPS by 5c; Reaffirms
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Axalta Releases First Quarter 2016 Results
April 28, 2016 6:30 AM EDTFirst Quarter 2016 Highlights:
Net sales of $955.6 million, a 3.0% year-over-year increase before unfavorable foreign currency translation of 6.4% Adjusted EBITDA of $194.8 million, up 7.0% compared to Q1 2015; Adjusted EBITDA margin of 20.4% versus 18.4% in Q1 2015 Operating cash flow use of $18.0 million versus $98.7 million in the same quarter last year; $100 million debt prepayment made subsequent to quarter end Continued focus on innovation with the global launch of AquaEC 6100, Axaltas newest cathodic epoxy electrocoat product, offering the next evolution of technology with improved performance and productivity
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