Axalta Coating Systems (AXTA) Company Report

Axalta announced a transformational merger with AkzoNobel, creating a combined entity projected to have approximately $17 billion in revenue, over $3 billion in EBITDA, and over $1.5 billion in free cash flow.
The merger is anticipated to generate over 75% value for Axalta shareholders, driven by a minimum of $600 million in annual cost synergies and over 30% EPS accretion.
Axalta will hold a 45% ownership stake in the new company, with a special dividend of around EUR 2 billion distributed to Axalta shareholders to balance ownership.
The combined entity will adopt a U.S.-style governance structure, with Rakesh Sachdev as Chair, Gregoire Poux-Guillaume as CEO, and Carl Anderson as CFO, with the deal expected to close in 12-15 months.
In current business trends, Axalta notes North America auto production is experiencing downtime in Q4 2025, and 2026 Class 8 commercial vehicle production forecasts are significantly below replacement levels.

6 days ago

Transcript

Axalta Announces Transformational Merger with AkzoNobel

AXTA

M&A

Dividends

Guidance Update

Axalta announced a transformational merger with AkzoNobel, forming a combined entity projected to achieve $17 billion in revenue, over $3 billion in EBITDA, and generate over $1.5 billion of free cash flow.
Axalta will hold a 45% ownership stake in the new company, an increase of 10% over historical market cap trading levels, which is expected to create an additional $1.4 billion in value for Axalta shareholders.
The merger is anticipated to deliver a minimum of $600 million in annual cost synergies and is projected to be over 30% EPS accretive for Axalta.
Carl Anderson, Axalta's SVP and CFO, will assume the role of CFO for the new combined company.
In current business trends, Axalta's North American mobility segment is experiencing softness, while the refinish business remains stable at a lower level, with destocking issues expected to subside after Q1.

6 days ago

Transcript

Axalta CFO Discusses Transformational Merger with AkzoNobel

AXTA

M&A

Dividends

Revenue Acceleration/Inflection

Axalta's SVP and CFO, Carl Anderson, discussed a transformational merger between Axalta and AkzoNobel, aiming to create the number one performance coatings player globally.
The combined entity is projected to achieve $17 billion in revenue, over $3 billion in EBITDA, and generate over $1.5 billion of free cash flow.
The merger is expected to deliver a minimum of $600 million in annual cost synergies and result in over 75% value creation for Axalta shareholders, with over 30% EPS accretion.
Axalta will own 45% of the new company, and the deal includes a 7.3% premium. The transaction is expected to close within 12-15 months.

6 days ago

Transcript

AkzoNobel and Axalta Announce Proposed All-Stock Merger of Equals

AXTA

M&A

Dividends

New Projects/Investments

AkzoNobel and Axalta have announced a proposed all-stock merger of equals to create a global coatings leader with $17 billion in revenue and an enterprise value of $25 billion.
The combined entity is expected to generate $600 million in run-rate synergies, with 90% achieved within the first three years following the close of the transaction. It is projected to have adjusted EBITDA of $3.3 billion and pro forma adjusted free cash flow of $1.5 billion, targeting adjusted EBITDA margins approaching 20%.
Under the terms of the agreement, AkzoNobel shareholders will own 55% and Axalta shareholders 45% of the combined company, and AkzoNobel shareholders will receive a special cash dividend of EUR 2.5 billion (minus any regular annual or interim dividends paid in 2026).
The transaction is expected to close in late 2026 to early 2027. Greg Poux-Guillaume, AkzoNobel CEO, will lead the combined company, with Chris Villavarayan, Axalta CEO, focusing on driving synergy realization as Deputy CEO.

Nov 18, 2025, 1:30 PM

Transcript

AkzoNobel and Axalta Announce All-Stock Merger of Equals

AXTA

M&A

AkzoNobel and Axalta have announced an all-stock merger of equals.
Axalta shareholders are set to receive 0.6539 shares of AkzoNobel common shares for each Axalta common share owned, resulting in pro forma ownership of 55% for AkzoNobel shareholders and 45% for Axalta shareholders.
The transaction is expected to close in late 2026 to early 2027, subject to regulatory and shareholder approvals, and anticipates ~$600 million in actionable cost and operational synergies.
The combined company will be dual-headquartered in Amsterdam and Philadelphia and will have a sole listing on the New York Stock Exchange following an initial period of dual listing.

Nov 18, 2025, 1:30 PM

Presentation

AkzoNobel and Axalta Announce Proposed Merger of Equals

AXTA

M&A

Dividends

Share Buyback

AkzoNobel and Axalta announced a proposed merger of equals, creating a global coatings leader with $17 billion in revenue and an enterprise value of $25 billion.
The all-stock transaction will result in AkzoNobel shareholders owning 55% and Axalta shareholders 45% of the combined company, with AkzoNobel shareholders receiving a special cash dividend of EUR 2.5 billion (minus 2026 regular dividends).
The merger is expected to generate $600 million in run-rate synergies, with 90% anticipated within the first three years post-close, primarily from SG&A, procurement, and supply chain efficiencies.
The combined company is projected to have $3.3 billion in adjusted EBITDA, $1.5 billion in pro forma adjusted free cash flow, and adjusted EBITDA margins approaching 20%.
The transaction is expected to close in late 2026 to early 2027, with the combined company listed on the New York Stock Exchange and dual headquarters in Amsterdam and Philadelphia.

Nov 18, 2025, 1:30 PM

Transcript

AkzoNobel and Axalta Announce Proposed Merger of Equals

AXTA

M&A

Dividends

New Projects/Investments

AkzoNobel and Axalta announced a proposed merger of equals, creating a global coatings leader with $17 billion in revenue and an enterprise value of $25 billion.
The all-stock transaction will result in AkzoNobel shareholders owning 55% and Axalta shareholders 45% of the combined company, with AkzoNobel shareholders receiving a EUR 2.5 billion special cash dividend.
The combined entity anticipates $600 million in run-rate synergies, with 90% expected within three years of closing, and projects a pro forma adjusted EBITDA of $3.3 billion and free cash flow of $1.5 billion.
The merger is expected to close in late 2026 to early 2027, with the new company domiciled in the Netherlands and solely listed on the New York Stock Exchange.
The leadership team will be led by Greg Poux-Guillaume as CEO and Chris Villavarayan as Deputy CEO, with Rakesh Sachdev as Chair of the Board.

Nov 18, 2025, 1:30 PM

Transcript

Axalta and AkzoNobel Announce All-Stock Merger of Equals

AXTA

M&A

AkzoNobel and Axalta Coating Systems Ltd. have agreed to an all-stock merger of equals, creating a global coatings leader with an estimated $17 billion in revenue and an enterprise value of approximately $25 billion based on 2024 figures.
The merger is projected to achieve approximately $600 million in run-rate cost synergies, with 90% expected within the first three years following the transaction's close.
Axalta shareholders will receive 0.6539 shares of AkzoNobel common shares for each Axalta common share, leading to a pro forma ownership split of 55% for AkzoNobel shareholders and 45% for Axalta shareholders.
The combined entity will be domiciled in the Netherlands, maintain dual headquarters in Amsterdam and Philadelphia, and transition to a single NYSE listing.
The transaction is anticipated to close between late 2026 and early 2027, pending regulatory and shareholder approvals.

Nov 18, 2025, 1:00 PM

8-K

Axalta and Akzo Nobel in Advanced Merger Talks

AXTA

M&A

Akzo Nobel NV and Axalta Coating Systems Ltd. are in advanced merger talks, a deal that could significantly reshape the global coatings industry by creating synergy and enhancing market presence.
Akzo Nobel has a market capitalization of approximately €9.7 billion, while Axalta's market value is roughly US$6 billion.
Akzo Nobel has been undergoing strategic changes, including closing some European sites and cutting 2,500 jobs, to improve efficiency amid economic headwinds.
Axalta operates in two main segments, Performance Coatings and Mobility Coatings, serving various global markets.

Nov 18, 2025, 12:34 AM

Bloomberg

AXTA Announces Q3 2025 Financial Results and Full Year Guidance

AXTA

Earnings

Guidance Update

Share Buyback

Axalta reported Q3 2025 Net Sales of $1,288 million, a 2% decrease year-over-year, primarily due to volume declines from macro headwinds in North America.
The company achieved a record Adjusted EBITDA of $294 million (up 1% YoY) with a 22.8% margin (up 70 bps YoY), and a record Adjusted Diluted EPS of $0.67 (up 6% YoY) for Q3 2025.
Mobility Coatings saw Net Sales increase by 4% to $460 million and Adjusted EBITDA increase by 20% to $83 million in Q3 2025, while Performance Coatings' Net Sales decreased by 6% and Adjusted EBITDA decreased by 5%.
Axalta repurchased $100 million in shares during Q3 2025, bringing its total net leverage ratio to 2.5x, and plans up to $250 million in share repurchases for Q4.
For the full year 2025, Axalta's current outlook includes Net Sales of >$5,100 million, Adjusted EBITDA of ~$1,140 million, and Adjusted Diluted EPS of ~$2.50.

Oct 28, 2025, 12:00 PM

Presentation

Earnings Transcripts

Quarterly earnings call transcripts for Axalta Coating Systems.

Q3 2025

Oct 28, 2025

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Q2 2025

Jul 30, 2025

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Q1 2025

May 7, 2025

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Axalta Coating Systems (AXTA)

Analyst Earnings Quarterly Reports

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Executives

Chris Villavarayan

Alex Tablin-Wolf

Carl D. Anderson II

Hadi H. Awada

Mark Dixon

Patricia Morschel

Tim Bowes

Troy D. Weaver

Board Members

Deborah J. Kissire

Jan A. Bertsch

Kevin M. Stein

Mary S. Zappone

Rakesh Sachdev

Samuel L. Smolik

Tyrone M. Jordan

William M. Cook

Analyst Coverage

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John McNulty

Vincent Andrews

John Ezekiel Roberts

Michael Sison

Christopher Parkinson

David Begleiter

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Jeffrey Zekauskas

Kevin McCarthy

Michael Leithead

Chris Parkinson

Matthew Deyoe

Michael Harrison

Patrick Cunningham

Steve Byrne

Arun Viswanathan

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Josh Spector

Joshua Spector

Josh Vesely

Laurence Alexander

Laurent Favre

Lucas Beaumont

Matthew Krueger

Mike Harrison

Patrick Fischer

Rock Hoffman Blasko

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