On Tuesday, Axalta Coating Systems Ltd (NYSE:AXTA)’s shares declined -3.02% to $31.12.
Axalta Coating Systems Ltd. (AXTA) a leading global coatings company, announced its financial results for the second quarter ended June 30, 2015.
Second Quarter Consolidated Financial Results
Net sales of $1.1 billion for the second quarter of 2015 represented an 8.2% increase year-over-year excluding negative foreign currency translation, and a decrease of 2.9% on an as-reported basis. This net sales growth was driven by 4.8% volume increases, including growth in all regions and strong double-digit growth in Asia Pacific, reflecting the ongoing ramp-up in China new vehicle builds related to new business for Axalta. Higher average selling prices in the quarter added 3.4% to net sales, while unfavorable foreign currency translation reduced net sales by 11.1%.
Adjusted EBITDA of $255.5 million for the second quarter represented an increase of 15.6% year-over-year while Adjusted EBITDA margins expanded to 23.4% from 19.6% reported in Q2 2014. This result reflected the positive effect of volume growth across both of our segments, pricing benefits in select end-markets, as well as a moderate benefit from lower operating and raw material costs given continued progress on our productivity and procurement initiatives. These factors were partially offset by negative foreign currency impacts and costs associated with certain operating investments made to support future growth across our businesses.
Axalta Coating Systems Ltd., through its auxiliaries, manufactures, markets, and distributes high performance coatings products primarily for the transportation industry. It operates through two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various waterborne and solventborne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
Citrix Systems, Inc. (NASDAQ:CTXS)’s shares gained 0.25% to $76.06.
Citrix recently declared that Gartner, Inc. has positioned Citrix in the leaders’ quadrant of the 2015 Magic Quadrant for Enterprise File Synchronization and Sharing (EFSS) report1 for the second year in a row for its EFSS ShareFile® product solution. ShareFile’s integration with other products in the Citrix portfolio, provides flexibility and security via Restricted StorageZones, in addition to extensive support for back-end integration which enables a hybrid EFSS architecture.
According to Gartner, “leaders provide mature offerings that meet market demand. They have demonstrated the vision necessary to sustain their market positions as requirements evolve. The hallmark of Leaders is that they focus and invest in their offerings to lead the market and affect its overall direction. Leaders can be the vendors to watch as you try to understand how new offerings might evolve. Leaders typically possess a significant, satisfied customer base and enjoy high visibility in the market. Their size and maturity enable them to remain viable under changing market conditions. Leaders typically respond to a wide market audience by supporting broad market requirements. However, they may fail to meet the specific needs of vertical markets or other more specialized segments.”
Citrix Systems, Inc. provides virtualization, mobility administration, networking, and Software as a Service solutions worldwide. The company’s Enterprise and Service Provider division offers XenMobile Enterprise, a solution to manage mobile devices, apps, and data; XenDesktop, a desktop virtualization system that gives customers the flexibility to deliver desktops and applications as cloud services; Citrix XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients; and Citrix Operatespace Suite, a business mobility solution that delivers the user experience for any app or desktop.
At the end of Tuesday’s trade, Servicemaster Global Holdings Inc (NYSE:SERV)‘s shares dipped -6.41% to $36.22.
ServiceMaster Global Holdings, Inc. (SERV), a leading provider of essential residential and commercial services, recently declared preliminary unaudited second-quarter 2015 results. The company stated second-quarter 2015 revenue of $716 million, an enhance of 5 percent contrast to the same period in 2014. The enhance in revenue was driven by strong organic growth at American Home Shield (“AHS”), raised sales of new services at Terminix and price enhances, partially offset by lower demand for traditional termite services.
The company stated second-quarter 2015 net income of $67 million or $0.49 per share, counting a loss on extinguishment of debt of $14 million related to the company’s redemption of its 8% Senior Notes, as compared to $40 million or $0.44 per share in the same period in 2014.
The company stated second-quarter 2015 adjusted net income of $82 million, or $0.60 per share, as compared to $52 million, or $0.56 per share, for the same period in 2014. Earnings per share and other share data contained in this release reflect 136.5 million and 92.2 million diluted share counts for the second quarter ended June 30, 2015 and 2014, respectively.
ServiceMaster Global Holdings, Inc. provides residential and commercial services in the United States. It operates in three segments: Terminix, American Home Shield, and the Franchise Services Group. The Terminix segment offers termite and pest control services, counting termite remediation, annual termite inspection and prevention treatments with damage claim guarantees, periodic pest control services, insulation services, mosquito control, crawlspace encapsulation, and wildlife exclusion.
CBS Corporation (NYSE:CBS), ended its Tuesday’s trading session with -0.32% loss, and closed at $52.86.
CBS Corporation (CBS) declared recently that its Board of Directors has approved a quarterly dividend on the Company’s stock of $.15 per share. The dividend is payable on October 1, 2015, to shareholders of record on September 10, 2015.
CBS Corporation operates as a mass media company worldwide. It operates through four segments: Entertainment, Cable Netoperates, Publishing, and Local Broadcasting. The Entertainment segment distributes a plan of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and distributes programming, counting series, specials, news, and public affairs; operates online content netoperates for information and entertainment; and produces, acquires, and distributes theatrical motion pictures.
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