Axalta Coating Systems Ltd. (NYSE:AXTA) announced its financial results for the fourth quarter and full year ended December 31, 2016.
The company reported net sales of $1.029 billion for the fourth quarter benefited from both volume and pricing growth, offset by a 3.0 percent negative impact from foreign currency translation. Constant currency net sales increased 5.6 percent compared to the year-ago quarter, driven by 2.2 percent higher average selling prices and 3.4 percent volume growth. Acquisitions contributed 3.1 percent of the volume growth in the quarter. Net sales growth in the quarter was led by Asia Pacific and North America,