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Akzo Nobel (AKZOY)
OTHER OTC:AKZOY
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Earnings Data
Report Date
Jan 29, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.26Last Year’s EPS
$0.15Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -13.00%
|Next Earnings Date:Jan 29, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a company that is managing to grow and improve margins in a challenging market environment. However, the increase in net debt and weak demand in key markets like China present ongoing challenges. The strategic initiatives and cost reductions are positive moves that are expected to support future growth.Company Guidance
In the Q3 2024 earnings call, Akzo Nobel provided guidance emphasizing their strategic and financial metrics. The company reported a 1% increase in volumes, marking the fourth consecutive quarter of volume growth, with an adjusted gross margin expansion of 60 basis points in Q3 and 180 basis points year-to-date. Adjusted EBITDA before hyperinflation accounting was EUR 400 million, aligning with guidance and resulting in an EBITDA margin of 15%. The net debt-to-EBITDA ratio rose to 3x due to temporarily elevated working capital. Akzo Nobel reaffirmed its cost-cutting measures, projecting EUR 25 million in benefits for the current year and EUR 70 million for 2025, with overall savings expected to surpass EUR 250 million. The company also announced a strategic review of its South Asia portfolio, targeting its decorative paints business, with an intent to focus capital allocation on core coatings markets. For the full year 2024, Akzo Nobel anticipates achieving adjusted EBITDA growth to around EUR 1.5 billion, with a year-end net debt-to-EBITDA ratio of 2.7x.Fourth Consecutive Quarter of Volume Growth
Volumes increased by 1% in Q3, marking the fourth consecutive quarter of growth, despite mixed market conditions.
Gross Margin Improvement
Adjusted gross margin expanded by 60 basis points in Q3 and 180 basis points year-to-date.
SG&A Cost Reduction Program
Announced a program to cut 2,000 positions globally, primarily in Europe, aiming for annualized savings of EUR 120 million to EUR 150 million.
Strategic Review of South Asian Portfolio
Initiated a strategic review of the decorative paints business in South Asia, particularly focusing on India, to explore consolidation opportunities.
Strong Performance in Powder Coatings
Achieved mid-single-digit growth in Powder Coatings despite flat markets, with strong performance expected to continue in Q4.
Solid Free Cash Flow Generation
Delivered solid free cash flow of EUR 217 million in Q3, despite temporary high working capital.
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AKZOY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AKZOY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $22.61 | $21.75 | -3.80% |
| Jul 23, 2024 | $21.05 | $20.35 | -3.33% |
| Apr 23, 2024 | $23.14 | $21.64 | -6.48% |
| Feb 07, 2024 | $24.86 | $24.32 | -2.17% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Akzo Nobel (AKZOY) report earnings?
Akzo Nobel (AKZOY) is schdueled to report earning on Jan 29, 2025, Before Open Not Confirmed.
What is Akzo Nobel (AKZOY) earnings time?
Akzo Nobel (AKZOY) earnings time is at Jan 29, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AKZOY EPS forecast?
AKZOY EPS forecast for the fiscal quarter 2024 (Q4) is $0.26.
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