By Katherine Hamilton
Shares of Axalta Coating Systems rose Tuesday after the company posted record fourth-quarter sales and shared guidance for more growth in 2025.
The stock price increased 4% to $36.51 in premarket trading. It is up 8% over the past year.
The Philadelphia-based coatings company posted record sales of $1.31 billion in its fourth quarter, as profit increased 85% year-over-year to $137 million. Analysts polled by FactSet expected a $111.9 million profit.
Quarterly earnings per share rose to 63 cents, from 33 cents last year, ahead of the 53 cents expected by analysts polled by FactSet. Adjusted earnings per share were 60 cents.
Axalta also shared guidance for 2025. It expects sales to increase to between $5.35 billion and $5.4 billion, up from $ 5.28 billion in 2024. It also expects adjusted earnings per share to rise to $2.50 to $2.60, up from $2.35.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 04, 2025 10:16 ET (15:16 GMT)
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