Axalta Coating Systems Ltd. (NYSE:AXTA) announced its preliminary results for the fourth quarter of 2020.
Fourth quarter net sales of $1,074.5 million decreased 2.2% from $1,098.4 million in Q4 2019, and increased 4.6% sequentially from Q3 2020 with all end-markets showing improvement, given continued recovery from pandemic-related demand impacts.
According to the company refinish demand recovery was temporarily interrupted by incremental pandemic-related restrictions within EMEA and North America starting mid-quarter. Industrial saw solid year-over-year Q4 2020 net sales growth driven by strong industrial production rebound and ongoing strength in the U.S. housing market. Light Vehicle production continued its strong global
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