Axalta Coating Systems Ltd. (NYSE:AXTA) announced Record fourth quarter net sales of $1.3 billion for the fourth quarter ended December 31, up 1% versus the fourth quarter of 2023. Sales for the full year were a record $5.3 billion.
Axalta’s Performance Coatings segment fourth quarter 2024 net sales, which includes refinish, were $843 million, down 1% from the prior year period as the contribution from its acquisition of CoverFlexx was more than offset by lower volumes and unfavorable impacts from foreign currency translation.
Refinish net sales grew 2% year over year to $545 million driven by contributions from the CoverFlexx acquisition, favorable price-mix contribution, and net new body shop wins, partially offset by lower volumes in Europe and negative impacts from foreign currency translation. Refinish had its 16th consecutive quarter of year-over-year net sales growth.
“Axalta’s 2024 financial results were exceptional. We delivered record net sales and Adjusted EBITDA for the fourth quarter and full year in a challenging macro environment,” said Chris Villavarayan, Axalta’s CEO and President. “Consistent outperformance in Refinish and Light Vehicle and excellent execution across the company, resulted in an Adjusted EBITDA margin of over 21% as we continue down the path to delivering against our commitments outlined in the 2026 A Plan.”