Axalta Coating Systems Ltd. (NYSE:AXTA) reported third quarter net sales overall decreased 7.2% year-over-year to $1,026.9 million including a 0.1% foreign currency benefit, driven by 6.0% lower volumes and 1.4% lower average price and product mix.
Performance Coatings third quarter net sales were $682.7 million, a decrease of 5.7% year-over-year. Constant currency organic net sales decreased 6.9% in the period, driven by a 4.5% volume decline primarily from Refinish, as well as a 2.4% decrease in average price and product mix, including impacts from both end-markets. Foreign exchange was a 1.1% tailwind and M&A benefits were modest in the period.
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