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Axalta (AXTA) Launches New ICONICA Collection in the U.S.

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Axalta Coating Systems Ltd. (AXTA - Free Report) , a leading provider of coatings solutions to the architectural and design industry segments, recently introduced its latest ICONICA collection of Alesta SD powder coatings as part of an exclusive global line to the U.S. market.

The ICONICA coatings from Axalta are built on a system of ultra-durable polyester resin. The collection blends higher-grade stabilizers and pigments with remarkable external durability to increase the longevity of architectural projects. This latest edition of ICONICA exhibits how Axalta keeps developing smarter surface solutions for better living and a sustainable future.

The latest ICONICA collection addresses the changing performance, sustainability and design requirements of the global architecture and design community. This newest trend collection underscores Axalta’s commitment to supporting architects globally with expert insights and guidance to facilitate better, more sustainable designs.

The ICONICA collection places a strong emphasis on performance and features Axalta’s Alesta SD range of products as the standard for long-lasting surface protection. It adheres to international standards such as Qualicoat Class 2 and AAMA2604. A 25-year warranty is also included with the collection.

With a key focus on the environment, ICONICA was developed as part of Axalta’s commitment to delivering sustainable surface solutions. The Alesta SD range of powder coatings is solvent- and VOC emissions-free. It produces significantly less hazardous waste compared with solvent-borne coatings solutions. This makes this powder coating the most environmentally friendly paint solution globally.

AXTA has gained 15.3% over the past year against the 7.2% decline of its industry.

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On its fourth-quarter call, Axalta noted that it expects the momentum in refinish in the Performance Coatings unit to continue in 2023, following record profitability in 2022. Price-cost normalization and share gains are expected to counterbalance potentially weaker industrial markets.

For the first quarter of 2023, AXTA anticipates adjusted earnings per share of 26-33 cents. It also expects net revenues to rise 5-9% year over year in the quarter. In addition, the company anticipates that moderate deflation in elevated upstream commodities will offset headwinds from higher labor and energy costs.

 

Zacks Rank & Key Picks

Axalta currently carries a Zacks Rank #5 (Strong Sell).

Better-ranked stocks to consider in the Basic Materials space include Nucor Corporation (NUE - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Yamana Gold Inc. .

Nucor currently sports a Zacks Rank #1 (Strong Buy). NUE’s earnings beat the Zacks Consensus Estimate in all the last four quarters. It has a trailing four-quarter earnings surprise of roughly 7.7% on average. NUE has gained around 6.8% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.

Carpenter Technology currently carries a Zacks Rank #2 (Buy). CRS’ earnings beat the Zacks Consensus Estimate in all the last four quarters. It has a trailing four-quarter earnings surprise of roughly 33.6% on average. CRS has rallied around 10.9% in a year.

Yamana Gold currently carries a Zacks Rank #2. AUY’s earnings beat the Zacks Consensus Estimate in all the last four quarters. It has a trailing four-quarter earnings surprise of roughly 22.5% on average. AUY has gained around 1.8% in a year.

 

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