PHILADELPHIA, May 6, 2021 /PRNewswire/ –Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid and powder coatings, hosted a virtual Capital Markets Day on May 5, 2021 where Chief Executive Officer Robert Bryant and members of the Axalta Leadership Team presented a detailed overview of the company, its strong and sustainable competitive position, and four-year financial targets. As Axalta enters a new phase focused on growth, the company expects to unlock its full potential to create substantial stakeholder value built on a foundation of innovation, organic and inorganic opportunities, and capitalizing on operational excellence for continuous improvement and enhanced execution.
“I’ve never been as excited about the prospects for Axalta as I am today. We’re in a unique and highly profitable position where we can leverage our competitive advantages in innovation, technology, and value-added coatings as well as services to help our customers be successful with the opportunities that we believe will arise from the COVID-19 pandemic rebound and broader macro industry trends,” said Robert Bryant, Chief Executive Officer, Axalta. “We have all the ingredients for long-term success that will support accelerated growth, productivity, cash flow, improved returns, and stakeholder value.”
Axalta also provided 2024 financial guidance during the Capital Markets Day presentations. The company anticipates 4 to 5% organic net sales growth (compound annual growth rate from 2019 to 2024), an adjusted Earnings Per Share range of $2.90 to $3.10, and $2.4 billion of cumulative 4-year free cash flow with a majority of free cash flow being deployed for acquisitions and share repurchases.
