Axalta Coating Systems Ltd. (AXTA) News & EventsAXTAAxalta Coating Systems Ltd.

Axalta and AkzoNobel Merger Approved by Shareholders

Axalta Coating Systems (AXTA) announced that its shareholders overwhelmingly voted to approve its previously announced all-stock merger of equals with AkzoNobel N.V. (AKZOY) at the company's Special General Meeting of Shareholders held earlier today. AkzoNobel also held its Extraordinary General Meeting today, where AkzoNobel shareholders voted to approve the Merger. "We appreciate the strong support we have received for our merger of equals with AkzoNobel and we are excited about the opportunity to deliver significant value to shareholders, customers and employees," said Chris Villavarayan, CEO of Axalta. "Building on our record second quarter, we are excited to embark on our next phase with real momentum in the business. Our teams are working diligently to advance integration planning and remain focused on bringing together two highly complementary businesses to capture the full value of this combination from day one." Completion of the Merger remains subject to receipt of required regulatory approvals and other customary closing conditions. Subject to the satisfaction of these conditions, the companies continue to expect the Merger to be completed in late 2026 to early 2027.

Sees Q3 Revenue Growth to $1.33B

Sees Q3 revenue growth in low single digits from $1.29B last year, consensus $1.33B.

Company Reports Q2 Revenue of $1.35B

Reports Q2 revenue $1.35B, consensus $1.32B. "We delivered an excellent second quarter with record Adjusted EBITDA and Adjusted Diluted EPS, expanded margins and strong free cash flow generation demonstrating the earnings power of our business model" said CEO Chris Villavarayan. "Our team continues to drive operational excellence that underpins our consistent financial performance, and we carry solid momentum into the second half of the year."