Axalta Coating Systems Ltd. (NYSE: AXTA) reported first quarter net sales of $1.25 billion, down 1% year-over-year, as the global coatings company beat its own guidance on revenue, adjusted earnings and adjusted earnings per share while delivering record first quarter cash generation.
The company posted net income of $91 million, down 8% from the prior year period, and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $259 million, a 4% decline. Adjusted EBITDA margin was 20.6%, down 80 basis points from a year earlier. Diluted earnings per share were $0.42, while adjusted diluted earnings per share came in
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