• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Research
    • Markets & Technologies
    • Raw Materials
    • Top Companies
    • Directories
    • Jobs
    • Events
    • Microsites
    • More
  • Magazine
  • News
  • Research
  • Markets & Technologies
  • Raw Materials
  • Top Companies
  • Directories
  • Jobs
  • Events
  • Microsites
  • Current / Back Issues
    Features
    Business Corner
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    World Reports
    eBook
    Top Features
    Aerospace Coatings Market

    Energy Curing and Coil Coatings

    Lab/Testing Equipment Update

    High Performance and Special Effect Pigments

    The Wood Coatings Market
    Breaking News
    Online Exclusives
    Distributor News
    Financial News
    Paint & Coatings Manufacturer News
    People In the News
    Price Increases
    Product News
    Raw Materials & Equipment
    Video Bites
    Suppliers News
    Live From Shows
    Top News
    Hempel Receives Its Best-Ever ESG Rating by EcoVadis

    New President & CEO Announced for the Canadian Coatings Association

    PPG Launches Clearcoats for Premium Collision Repair Segments

    Indorama Ventures Honored with Dual Awards from ACC

    Weekly Recap: PPG, Sun Chemical, Dutch Boy Paints Top This Week’s Stories
    Top Companies report
    Market Research
    White Papers / Tech Papers
    Technical Papers
    Product Spec Sheets
    World Reports
    Adhesives and Sealants
    Aerospace Coatings
    Architectural Coatings
    Automotive Coatings
    Automotive Refinish
    Business Operation
    Color Trends & Forecast
    Construction Chemicals
    Corrosion Control
    Industrial Coatings
    Laboratory Equipment
    Marine Coatings
    Market Trends & Forecast
    Powder Coatings
    Production Equipment
    Radcure Coatings
    Special Purpose Coatings
    Wood Coatings
    "Green" Coatings

    PPG Launches Clearcoats for Premium Collision Repair Segments

    PPG To Invest $380 Million in Aerospace Coatings Facility

    AkzoNobel Working with BASF to Lower Carbon Footprint of High-volume Paint Products

    BASF Coatings Expands Business with Biomass-balanced Products

    Aerospace Coatings Market
    Additives
    Binders
    Pigments
    Solvents

    BASF Becomes First Producer of Renewable Ammonia in Central Europe

    BASF's Intermediates Division Converts European Amines Portfolio to 100% Renewable Electricity

    High Performance and Special Effect Pigments

    Strategic Value Partners and Blantyre Capital Acquire OQ Chemical

    Clariant's Ceridust 1310 Addresses Carnauba Wax Supply Volatility
    Company Capabilities
    Buyers Guide
    Distributor Guide
    Add New Company
    International Buyers Guide Companies
    WAB US Corp

    Vibrantz Technologies

    Gehring Montgomery Inc

    Siltech Corporation

    Shepherd Color Company, The
    Industry Events
    Webinars
    Live From Show Event
    Top Events
    Saudi Arabia Coatings Show

    Eastern Coatings Show 2025

    RadTech 2025 UV+EB Technology Expo & Conference

    Canadian Coatings Conference

    Paintistanbul & Turkcoat Congress and Exhibition
    Companies
    White Papers/Tech Papers
    Product Spec Sheets
    Equipment
    Literature/Brochures
    Videos
    International Buyers Guide Companies
    WAB US Corp

    Vibrantz Technologies

    Gehring Montgomery Inc

    Siltech Corporation

    Shepherd Color Company, The
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Business Corner
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Directories
      • Buyers Guide
      • Distributor Guide
      • Corporate Capabilities
      • Trade Associations
      • Add Your Company
    • Markets & Technologies
      • Adhesives and Sealants
      • Aerospace Coatings
      • Architectural Coatings
      • Automotive Coatings
      • Automotive Refinish
      • Business Operation
      • Color Trends & Forecast
      • Construction Chemicals
      • Corrosion Control
      • Industrial Coatings
      • Laboratory Equipment
      • Marine Coatings
      • Market Trends & Forecast
      • Powder Coatings
      • Production Equipment
      • Radcure Coatings
      • Special Purpose Coatings
      • Wood Coatings
      • "Green" Coatings
    • Raw Materials
      • Additives
      • Binders
      • Pigments
      • Solvents
    • World Reports
      • Africa Report
      • China Report
      • India/Asia Pacific Report
      • Europe Report
      • Latin America Report
      • Market Research
      • Russian Report
    • Top Companies
    • Online Exclusives
    • Glossary
    • Slideshows
    • Experts Opinions
    • Blog
    • eBook
    • Infographics
    • Videos
    • Podcasts
    • Whitepapers
    • Jobs
    • Microsites
      • Companies
      • White Papers/Tech Papers
      • Product Spec Sheets
      • Equipment
      • Literature/Brochures
      • Videos
    • Events
      • Industry Events
      • Live From Show Event
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    Axalta Updates Financial Guidance

    Axalta updates financial guidance to reflect ongoing impacts of customer supply chain shortages and raw material and logistics constraints.

    Axalta Updates Financial Guidance
    09.22.21
    Axalta Coating Systems Ltd. provided an update to third quarter and full-year 2021 financial guidance given the ongoing supply chain issues its Mobility customers are experiencing as well as continued raw material inflation and supply chain and logistics constraints impacting the coatings industry. Axalta expects Net Sales for the third quarter to decrease by approximately $40 million relative to volume levels assumed in previously communicated guidance, and for Adjusted EBIT to be reported between $130-140 million, benefiting from positive business mix, ongoing price increases, and continued cost actions. The prior guidance for Q3 Adjusted EBIT (noted as ~20% of the full year target) was $138 million at the midpoint of the range. For full-year 2021, Axalta is withdrawing its previously communicated guidance due to the uncertainty related to these factors and expected financial impacts during the fourth quarter.

    Since Axalta provided its third quarter and full-year 2021 guidance on July 26, 2021, Net Sales volumes have continued to be impacted by customer supply chain disruptions, most notably in the Light Vehicle end-market, where semiconductor chip and other supply shortages have continued largely unabated. Industry forecasts for light vehicle production now call for these disruptions to continue into 2022, and Axalta now anticipates global production impacts to total approximately 11 million units for the full year 2021, compared with the previous assumption of 7 million units. In addition, recent weather events in the Southeast U.S. and ongoing global raw material supply and logistics constraints have resulted in continued cost inflation and supply constraints in excess of that anticipated in previously provided guidance.

    Despite the impact of Mobility customer component shortages and supply chain challenges, underlying demand in Performance Coatings end-markets remains strong. Inventory on hand in customer channels remains below normal levels, which Axalta expects will support a Net Sales recovery as COVID-19-related impacts and supply chain dynamics ease over time. Axalta expects Net Sales volumes in both Refinish and Industrial end-markets to remain consistent with previously communicated guidance. On a consolidated basis, Axalta believes that strong global demand, supported by active growth initiatives, and a focus on addressing inflationary pressures with price increases, will support a continued recovery in both Net Sales and profit during 2022 and beyond.

    Cautionary Statement Concerning Forward-Looking Statements

    This release may contain certain forward-looking statements regarding Axalta and its subsidiaries within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including the effects of COVID-19 on Axalta's business and financial results. All of these statements are based on management's expectations as well as estimates and assumptions prepared by management that, although they believe to be reasonable, are inherently uncertain. These statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of Axalta's control, including the effects of COVID-19, that may cause its business, industry, strategy, financing activities or actual results to differ materially. The impact and duration of COVID-19 on our business and operations is uncertain. Factors that will influence the impact on our business and operations include the duration and extent of COVID-19, the extent of imposed or recommended containment and mitigation measures, and the general economic consequences of COVID-19. More information on potential factors that could affect Axalta's financial results is available in "Forward-Looking Statements", "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" within Axalta's most recent Annual Report on Form 10-K, and in other documents that we have filed with, or furnished to, the U.S. Securities and Exchange Commission. Axalta undertakes no obligation to update or revise any of the forward-looking statements contained herein, whether as a result of new information, future events or otherwise.

    Non-GAAP Financial Measures

    This release includes financial information that is not presented in accordance with generally accepted accounting principles in the United States ("GAAP"), including Adjusted EBIT. Management uses non-GAAP financial measures in the analysis of our financial and operating performance because they assist in the evaluation of underlying trends in our business. Our use of the term Adjusted EBIT may differ from that of others in our industry. Adjusted EBIT should not be considered as an alternative to performance measures derived in accordance with GAAP as a measure of earnings. Adjusted EBIT has important limitations as an analytical tool and should be considered in conjunction with, and not as a substitute for, our results as reported under GAAP. Axalta does not provide a reconciliation for non-GAAP estimates for Adjusted EBIT on a forward-looking basis because the information necessary to calculate a meaningful or accurate estimation of reconciling items is not available without unreasonable effort. For example, such reconciling items include the impact of foreign currency exchange gains or losses, gains or losses that are unusual or nonrecurring in nature, as well as discrete taxable events. We cannot estimate or project these items and they may have a substantial and unpredictable impact on our US GAAP results
    Related Searches
    • Market Trends & Forecast
    Related Knowledge Center
    • Market Trends & Forecast
    Suggested For You
    Metaflake Limited Metaflake Limited
    PCE Instruments UK Ltd PCE Instruments UK Ltd
    Nippon Paint Marine Registers Spike in Turkish Drydockings Amid Asia Capacity Concerns Nippon Paint Marine Registers Spike in Turkish Drydockings Amid Asia Capacity Concerns
    Paint Specialist Flügger Maintains Momentum in Q1 2021-22 Paint Specialist Flügger Maintains Momentum in Q1 2021-22
    ProPhotonix Launches COBRA Cure FX4 UV LED Curing System ProPhotonix Launches COBRA Cure FX4 UV LED Curing System
    2022 Gulf Coatings Show 2022 Gulf Coatings Show
    2022 Pacific Coatings Show 2022 Pacific Coatings Show
    Ross Offers High-Throughput Ultra High Shear Mixer Ross Offers High-Throughput Ultra High Shear Mixer
    Frederick Nance Named to Savoy Magazine Frederick Nance Named to Savoy Magazine's 2021 Most Influential Black Corporate Directors List
    RPM to Hold Virtual-Only Annual Meeting of Shareholders RPM to Hold Virtual-Only Annual Meeting of Shareholders
    Mule-Hide Products Names Chuck Miller Territory Manager for Central California Mule-Hide Products Names Chuck Miller Territory Manager for Central California
    Arkema in Top Spot of Companies in Chemicals Sector Assessed by V.E Arkema in Top Spot of Companies in Chemicals Sector Assessed by V.E
    Axalta to Showcase Coatings for Electric Vehicle Batteries and Motors at Novi Battery Show Axalta to Showcase Coatings for Electric Vehicle Batteries and Motors at Novi Battery Show
    PPG Provides Sales Update and Reports Worsening Supply Disruptions and Customer Parts Shortages PPG Provides Sales Update and Reports Worsening Supply Disruptions and Customer Parts Shortages
    PPG Launches Virtual PPG Aerospace Academy Education Program PPG Launches Virtual PPG Aerospace Academy Education Program

    Related Buyers Guide Companies

    • Metaflake Limited

      ...
      Steven Kerr, Managing Director 09.12.24

    • PCE Instruments UK Ltd

      ...
      Stefanie Balkenhol, sales/marketing 09.27.23

    • Breaking News | Marine Coatings | Paint & Coatings Manufacturer News
      Nippon Paint Marine Registers Spike in Turkish Drydockings Amid Asia Capacity Concerns

      Nippon Paint Marine Registers Spike in Turkish Drydockings Amid Asia Capacity Concerns

      Nippon Paint Marine has registered a significant spike in Turkish drydockings as operators of small- to mid-size tonnage redirect vessels from Asia.
      09.22.21


    • Breaking News | Financial News | Paint & Coatings Manufacturer News
      Paint Specialist Flügger Maintains Momentum in Q1 2021-22

      Paint Specialist Flügger Maintains Momentum in Q1 2021-22

      Sales were $766 million for the quarter, up 17% in the prior year period.
      09.21.21

    • Breaking News | Suppliers Corner
      ProPhotonix Launches COBRA Cure FX4 UV LED Curing System

      ProPhotonix Launches COBRA Cure FX4 UV LED Curing System

      ProPhotonix Limited announced COBRA Cure FX4, an addition to its range of UV LED curing systems.
      09.21.21

    Loading, Please Wait..
    Breaking News
    • Hempel Receives Its Best-Ever ESG Rating by EcoVadis
    • New President & CEO Announced for the Canadian Coatings Association
    • Indorama Ventures Honored with Dual Awards from ACC
    • PPG Launches Clearcoats for Premium Collision Repair Segments
    • Weekly Recap: PPG, Sun Chemical, Dutch Boy Paints Top This Week’s Stories
    View Breaking News >
    CURRENT ISSUE

    April 2025

    • The Wood Coatings Market
    • The Importance of Utilizing Sustainability-Driven Innovation
    • Coating Resins Market
    • View More >