Axalta ting Systems .-Axalta Releases First Quarter 2025 Results

Financial Performance - Net sales for the first quarter of 2025 decreased by 3% year over year to $1.26 billion, impacted by a 3% headwind from foreign currency translation [3] - Net income increased by 154% year over year to$ 99 million, resulting in a net income margin of 7.8% [4] - Adjusted EBITDA rose by 4% to $270 million compared to$ 259 million in the prior year period, with an adjusted EBITDA margin expanding by 140 basis points to 21.4% [4][10] Segment Results - Performance Coatings net sales were $822 million, down 3% year over year, primarily due to volume declines and foreign currency headwinds [6] - Mobility Coatings net sales were$ 440 million, a decrease of 1% from the prior year period, with Light Vehicle net sales declining by 1% year over year [8] Cash Flow and Expenditures - Cash provided by operating activities was $26 million, down from$ 34 million in the same period last year, primarily due to increases in working capital [5] - Free cash flow was a use of $14 million in the first quarter of 2025 compared to a use of$ 15 million in the prior year period [5] Outlook - For Q2 2025, net sales are projected to grow at a low single-digit percentage, with full-year net sales expected to be between $5.3 billion and$ 5.375 billion [12] - Adjusted EBITDA for Q2 2025 is projected to be between $280 million and$ 290 million, with full-year adjusted EBITDA expected to be between $1.15 billion and$ 1.175 billion [12] Awards and Recognition - The company won two Edison Awards™ and a BIG Innovation Award for advancements in automotive materials and electrical systems [10] Management Commentary - The CEO emphasized the record first quarter Adjusted EBITDA and the company's focus on delivering exceptional solutions and service for customers amid challenging global economic conditions [11]