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 […]
AkzoNobel Reports Sales Down Just 5% in Third Quarter Compared to 2019 and Up 1% on Constant Currency Basis
CEO says refinish outperforming market. Akzo Nobel N.V. (AKZA; AKZOY) announced that revenue for the third quarter 2020 were €2,398 million ($2,847.4 million), down 5% from the third quarter of 2019, but up 1% on a constant currency basis. Volumes were up 3%, showing strong demand for Decorative Paints, partly offset by lower volumes of […]
PPG Reports Third Quarter Refinish Coatings Sales Down 10% Due to Pandemic Impact on Driving
PPG (NYSE:PPG) reported third quarter 2020 net sales of about $3.7 billion, down approximately 4% versus the prior year. Selling prices increased by 1.3%. Sales volumes were down about 5% versus the prior year, which reflect ongoing negative economic impacts of the COVID-19 pandemic. Acquisition-related sales added less than 1% to sales growth, and the […]
PPG Projects Strong Third Quarter Financial Results
PPG (NYSE:PPG) announced that its third quarter 2020 adjusted earnings per diluted share is expected to be between $1.90 and $1.94. This compares to adjusted earnings per diluted share of $1.67 in the third quarter of 2019. In addition, the company now anticipates that sales volumes versus the third quarter 2019 will be down about […]
Uni-Select Says Market Conditions Improved in July and August
Uni-Select Inc. (TSE:UNS) provided a business update for July and August, including market conditions in the U.S., Canada and the U.K., its organic sales growth, the status of its Continuous Improvement Plan and its financial position. According to the company, key industry metrics in the U.S., Canada and the U.K. are showing clear signs of […]
AkzoNobel Reports Continued Improving Trend in the Third Quarter
As the complex situation regarding the global COVID-19 pandemic continues to evolve, Akzo Nobel N.V. (AKZA; AKZOY) yesterday provided an update on recent business performance. According to the company, market headwinds have continued to ease during recent months. Based on current trading, total revenue for the third quarter is expected to be close to previous […]
Copart Reports Fourth Quarter Revenue of $525 Million
Copart, Inc. (NASDAQ: CPRT) reported financial results for the quarter and year ended July 31 that its revenue, gross profit, and net income were $525.7 million, $250.4 million, and $165.5 million, respectively. These represent a decrease in revenue of $16.9 million, or 3.1%; an increase in gross profit of $7.8 million, or 3.2%; and an […]
U.S. Property/Casualty Industry’s Underwriting, Net Income Drops in First-Half 2020
A.M. Best says COVID-19 related underwriting expenses and dividends will impact industry profitability. Underwriting income for the U.S. property/casualty (P/C) industry fell by 5.5% in the first half of 2020, compared with first-half 2019, on increases in underwriting expenses and policyholder dividends, largely stemming from COVID-19-related factors. This AM Best financial review is detailed in […]
Boyd Group Reports Sales Down Over 25% in Second Quarter Due to Pandemic
Same store sales down 33% compared to last year. Boyd Group Services Inc. (TSE: BYD) today announced sales decreased by 25.5% to CA$426.5 million ($321.6 million) in the second quarter ended June 30 from CA$572.5 million ($431.7 million) in the same period of 2019, including same-store sales decreases of 33.0%, which was negatively impacted by […]
Universal Technical Institute Reports Fiscal Third Quarter of Revenue Down 31%
Universal Technical Institute, Inc. (NYSE: UTI), the provider of transportation technician training, reported revenue of $54.5 million for its fiscal third quarter ended June 30, down 31% from the prior year quarter reflecting timing of students returning from leave of absence (LOA) and overall student progression through make-up labs. The company reported new student starts […]
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