PHILADELPHIA (AP) — PHILADELPHIA (AP) — Axalta Coating Systems Ltd. (AXTA) on Thursday reported first-quarter earnings of $90 million.
On a per-share basis, the Philadelphia-based company said it had net income of 42 cents. Earnings, adjusted for one-time gains and costs, were 56 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The high-performance coating system maker posted revenue of $1.25 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $1.2 billion.
For the current quarter ending in June, Axalta Coating Systems expects its per-share earnings to be 65 cents.
The company expects full-year earnings in the range of $2.55 to $2.70 per share.
Axalta Coating Systems shares have fallen 13% since the beginning of the year. The stock has decreased 11% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTA at https://www.zacks.com/ap/AXTA