Axalta Names New Vice President, Global Strategy and Investor Relations Author: Investing.com

PHILADELPHIA – Axalta Coating Systems Ltd . (NYSE: NYSE:) , a global coatings company, today announced key executive appointments. Chris Evans, previously Vice President, Investor Relations, has been named Vice President, Global Strategy. Concurrently, Colleen Lubic has been named Vice President, Investor Relations.

Evans, who joined Axalta in early 2022, will now lead the company’s Global Strategy and M&A efforts, reporting to Chief Transformation Officer Tim Bowes. His experience includes leading Investor Relations at Ecovyst, serving as Director of Investor Relations and Corporate Strategy at Chemours and more than four years as an equity analyst at Goldman Sachs.

Evans began his career at ExxonMobil (NYSE:) as a senior research chemist. Carl Anderson, senior vice president and chief financial officer, expressed confidence in Evans’ ability to advance Axalta’s strategic initiatives, particularly citing his role in executing Axalta’s Plan 2026, unveiled at a recent Strategy Day.

Lubic, who was appointed vice president of financial planning and analysis at Axalta in April 2022, brings with him a wealth of experience Campbell’s Soup Company (NYSE:) where she held various finance leadership positions. Her early career includes experience as an auditor at Deloitte.

In her new role, Lubic will serve as the primary point of contact between Axalta, its shareholders and the investment community, reporting directly to Anderson, who praised her for her extensive financial knowledge and communication skills.

These executive moves are intended to strengthen Axalta’s leadership team as the company continues to deliver innovative and sustainable coatings solutions across a variety of industries, including automotive and industrial applications. With a history spanning more than 150 years, Axalta serves more than 100,000 customers in more than 140 countries.

The information contained in this report is based on a press release from Axalta Coating Systems.

In other recent news, Axalta Coating Systems had a number of noteworthy developments. The company’s strategic “2026 A Plan” aims to achieve over $1,200 million in EBITDA by 2026, representing a compound annual growth rate of around 6% from the projected record $1,065 million in 2024. Analysts at Barclays Capital Inc. and KeyBanc assigned an Overweight outlook, while Mizuho Securities raised the price target to $41.00, reflecting an improving earnings per share outlook.

In addition, Axalta Coating Systems held its 2024 annual meeting of shareholders, at which nine directors were elected to its board of directors and the appointment of PricewaterhouseCoopers LLP as Axalta’s independent registered public accounting firm was approved. The compensation of Axalta’s named executive officers for 2023 was also approved by a majority of shareholders.

The company also announced a partnership with Solera, integrating its paint systems with the Solera Sustainable Estimatics platform. The collaboration aims to offer an innovative solution for estimating carbon emissions during vehicle repairs, supporting Axalta’s goal of achieving carbon neutrality by 2040.

Analysts continue to raise concerns about Axalta’s exposure to the drought in Mexico, which could potentially impact future operations. Here’s the latest developments for Axalta Coating Systems.

InvestingPro Insights

Axalta Coating Systems Ltd. (NYSE: AXTA) Strengthens Management Team to Drive Strategic Growth as Investors Watch Company’s Financial Health and Market Performance Closely

According to InvestingPro data, Axalta boasts a market capitalization of $7.59 billion, reflecting the scale of its operations in the global coatings industry. The company’s price-to-earnings (P/E) ratio is 30.71, which has been revised to 22.95 based on the trailing twelve months through Q1 2024, suggesting that investors can expect future earnings growth.

Despite the high earnings multiple, Axalta has shown steady revenue growth, with a 4.0% increase in the last twelve months since Q1 2024, indicating continued demand for its coatings solutions. The company’s gross profit margin during the same period was 32.07%, indicating its operational efficiency. Furthermore, Axalta shares were trading near their 52-week high, at 92.92% of their peak, which could signal market confidence in its strategic direction and executive leadership.

Investors considering Axalta as a potential addition to their portfolio may find value in InvestingPro Tips, which highlight the company’s strong free cash flow yield and its status as a perfect Piotroski Score of 9, which is often an indicator of solid financial health. Furthermore, the company’s liquid assets reportedly outweigh its short-term liabilities, providing a buffer for operational flexibility.

For those looking for a more in-depth analysis, InvestingPro offers a total of 11 tips for Axalta, which can be accessed via InvestingPro’s dedicated page for the company. To access these valuable insights, readers can use the coupon code PRONEWS24 to get up to 10% off an annual Pro subscription and an annual or two-year Pro+ subscription.

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