PHILADELPHIA (AP) — PHILADELPHIA (AP) — Axalta Coating Systems Ltd. (AXTA) on Tuesday reported third-quarter earnings of $110 million.
On a per-share basis, the Philadelphia-based company said it had net income of 51 cents. Earnings, adjusted for one-time gains and costs, were 67 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The high-performance coating system maker posted revenue of $1.29 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $1.3 billion.
For the current quarter ending in December, Axalta Coating Systems expects its per-share earnings to be 60 cents.
The company expects full-year earnings to be $2.50 per share.
Axalta Coating Systems shares have decreased 15% since the beginning of the year. The stock has declined 17% 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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