Axalta Coating Systems Ltd. (NYSE:AXTA) announced its net sales for the fourth quarter ended December 31, 2022, increased 8.7% year-over-year, including a 5.4% foreign currency headwind. The strong year-over-year growth was driven by 11.7% higher average price-mix, and 2.4% better volumes. Performance Coatings net sales, which includes Refinish, increased 1.8% year-over-year, driven by constant currency growth of 10.5% in Refinish and 3.2% in Industrial. Mobility Coatings net sales increased 25.5% supported by a recovery in global auto production and continued pricing momentum.
Income from operations for Q4 2022 totaled $109.8 million compared to $94.7 million in Q4 2021. Net income