PHILADELPHIA (AP) — PHILADELPHIA (AP) — Axalta Coating Systems Ltd. (AXTA) on Wednesday reported second-quarter net income of $109 million.

On a per-share basis, the Philadelphia-based company said it had net income of 50 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 64 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The high-performance coating system maker posted revenue of $1.31 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $1.32 billion.

Axalta Coating Systems expects full-year earnings in the range of $2.45 to $2.55 per share, with revenue in the range of $5.2 billion to $5.28 billion.

Axalta Coating Systems shares have decreased 16% since the beginning of the year. The stock has dropped 18% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTA at https://www.zacks.com/ap/AXTA

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