Axalta Coating Systems Ltd. (NYSE:AXTA) today provided an update on second quarter sales trends through May. Axalta had withdrawn its guidance for the full year 2020 in March due to the uncertainty in the outlook for customer demand as a result of the COVID-19 pandemic and committed to offering an intra-quarter update in June.
For April and May, total net sales declined in the aggregate by 48% excluding foreign exchange and divestiture impacts, and declined 53% including those impacts, versus the same months in the prior year. The decline versus the prior year in May was slightly less than April,
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.