Atmus Q3 2024 Earnings Report
Key Takeaways
Atmus Filtration Technologies reported a 1.9% increase in net sales to $404 million for the third quarter of 2024. GAAP net income increased to $44 million, with diluted earnings per share of $0.52. Adjusted earnings per share was $0.61, and adjusted EBITDA reached $79 million with a margin of 19.6%. The company raised its full-year guidance for revenue and adjusted EBITDA margin.
Net sales reached $404 million.
GAAP net income was $44 million.
Adjusted EBITDA was $79 million with a margin of 19.6%.
Cash provided by operating activities totaled $71 million.
Atmus
Atmus
Forward Guidance
The company is raising guidance for year 2024 as follows: Revenue to be in the range of $1,650 million to $1,675 million, Adjusted EBITDA margin to be in the range of 19.25 percent to 19.75 percent and Adjusted earnings per share in the range of $2.35 to $2.50.
Positive Outlook
- Revenue to be in the range of $1,650 million to $1,675 million
- Adjusted EBITDA margin to be in the range of 19.25 percent to 19.75 percent
- Adjusted earnings per share in the range of $2.35 to $2.50
- Share repurchase program authorized by the Board of Directors in July 2024.
- Paid a quarterly cash dividend of $0.05 per share of common stock.