PHILADELPHIA (AP) — PHILADELPHIA (AP) — Axalta Coating Systems Ltd. (AXTA) on Wednesday reported first-quarter earnings of $99 million.
The Philadelphia-based company said it had profit of 45 cents per share. Earnings, adjusted for one-time gains and costs, were 59 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The high-performance coating system maker posted revenue of $1.26 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.27 billion.
For the current quarter ending in June, Axalta Coating Systems expects its per-share earnings to range from 60 cents to 63 cents.
The company expects full-year earnings in the range of $2.50 to $2.60 per share.
Axalta Coating Systems shares have decreased almost 3% since the beginning of the year. The stock has dropped 6% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTA at https://www.zacks.com/ap/AXTA
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