EarningsQ2 2026 Earnings Report
MX:AXTAN Q2 2026 EPS Results
Actual EPS$12.77
Consensus EPS$11.47
Beat/MissBeat by +$1.29
One Year Ago EPS$11.35
MX:AXTAN Q2 2026 Revenue Results
Actual Revenue$23.87B
Expected Revenue$23.30B
Beat/MissBeat by +$570.03M
YoY Revenue Growth+3.14%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeBefore Open
Conference CallTuesday, July 28, 2026
MX:AXTAN Upcoming Earnings
Axalta Coating Systems's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:AXTAN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple record financial results (record adjusted EBITDA, record adjusted EPS, strong free cash flow, and lowest-ever net leverage) driven by pricing, disciplined cost control, acquisitions and notable commercial wins (Refinish bodyshop gains, Mobility commercial vehicle strength, Industrial wins in Europe/Asia). Management maintained prudent guidance due to geopolitical and raw material uncertainties and disclosed merger-related transaction costs that reduced GAAP net income. On balance the company demonstrated strong operational execution, meaningful margin expansion and improved balance sheet metrics while acknowledging manageable near-term macro and cost headwinds.Company Guidance
Record Adjusted EBITDA and Margin Expansion
Adjusted EBITDA reached a record $305 million, up 5% year-over-year, with an adjusted EBITDA margin of 22.7% (up 30 basis points year-over-year and the highest second-quarter margin in many years).
Adjusted Diluted EPS Hit Quarterly Record
Adjusted diluted earnings per share increased 13% year-over-year to a quarterly record of $0.72.
Net Sales Growth and Best Quarterly Sales in Two Years
Net sales increased 3% year-over-year to just under $1.35 billion, the highest quarterly sales performance over the past two years; Performance Coatings net sales rose 4% and Mobility delivered record net sales of $474 million (up 1%).
Strong Cash Generation and Free Cash Flow Improvement
Cash provided by operating activities was $152 million (up ~7% year-over-year), and free cash flow was $107 million (up 6% year-over-year). Management noted working capital improvements that reduced inventory days by ~8 days, improving cash conversion by ~10% year-over-year.
Balance Sheet Strength and Deleveraging
Gross debt reduced by $80 million during the quarter ($135 million year-to-date). Net leverage ended the quarter at a record-low 2.2x with interest expense down ~16% year-to-date; company expects to exit the year below 2x.
Refinish and Bodyshop Wins Driving Growth
Refinish net sales grew 6% year-over-year to $545 million. The company secured more than 1,900 new net bodyshops in the first half and reported roughly 2,700 bodyshops through July (annual run-rate ~2,500), including a large MSO win (~600–800 North American locations reported) that should contribute to back-half volume growth.
Performance Coatings Profitability Gains
Performance Coatings adjusted EBITDA rose 10% to $218 million and adjusted EBITDA margin expanded 130 basis points to 25.1%, driven by positive price/mix, acquisitions and cost discipline.
Mobility Segment Strength and Commercial Vehicle Upside
Mobility delivered record net sales ($474 million) and segment adjusted EBITDA of $87 million with an 18.4% margin (up 90 basis points sequentially). Commercial Vehicle net sales increased 7% year-over-year, supported by Class 8 ramp-up and growth in Commercial Transportation Solutions.
Industrial Margin and Geographic Strength
Industrial delivered improved profitability despite choppy North American demand: net sales up 2% to $327 million, six consecutive quarters of net sales growth in Asia (Energy Solutions) and volume growth in Europe (E-Coat). Management highlighted 13 consecutive quarters of adjusted EBITDA margin expansion for Industrial.
Merger Synergy and Strategic Positioning
Company reiterated the proposed merger with AkzoNobel, expecting approximately $600 million of annual run-rate cost synergies (about 90% captured within first 3 years) and additional revenue synergy opportunities; management emphasized entering the transaction from its strongest financial position.
MX:AXTAN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed