Financial Guidance & Market Commentary
Q4 Consolidated Results
Financial Performance
Q4
($ in million), except
% Change
per share data
2022
2021
Incl. FX
Excl. FX
Performance Coatings
819
804
1.8 %
7.5 %
Mobility Coatings
418
333
25.5 %
30.2 %
Net Sales
1,237
1,137
8.7 %
14.1 %
Income from operations
110
95
15.9 %
Adjusted EBIT
147
121
21.7 %
% margin
11.9 %
10.6 %
Diluted EPS
$
Adjusted diluted EPS
$
0.20 $
0.38 $
0.23
(13.0%)
0.30
26.7 %
$1,137
Net Sales Variance
2.4%
11.7%
(5.4%)
8.7%
$1,237
Q4 2021
Volume
Price-Mix
FX
Q4 2022
Commentary
Net sales growth from price realization and market
recovery
12% price-mix growth driven by double-digit growth from all
four end-markets
2% volume growth year-over-year as market recovery in
Mobility more than offset softer Industrial and weaker China
environments
FX headwind driven by the Euro and Chinese Renminbi
Adjusted EBIT growth year-over-year driven by pricing
momentum and volume growth especially in Mobility
Coatings
Mobility Coatings Adjusted EBIT growth drove majority of
year-over-year profitability improvement
Adjusted EBIT margin improved year-over-year and
sequentially reflecting price prioritization across all end-
markets
China lockdowns, FX and Russia-Ukraine conflict continued
to pressure Adjusted EBIT by ~$17 million year-over-year
11
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