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Atmus Filtration Technologies Inc. (ATMU) is a leading manufacturer of advanced filtration products primarily for the automotive and industrial sectors. Specializing in on-highway commercial vehicles and off-highway vehicles used in agriculture, construction, mining, and power generation, Atmus offers an extensive range of filtration solutions under the well-known Fleetguard brand.
The company's product line includes air filters, fuel filters, fuel water separators, lube filters, hydraulic filters, coolants, fuel additives, and other filtration systems. These products are designed to enable lower emissions and provide essential asset protection. Atmus caters to both first-fit and aftermarket applications, serving original equipment manufacturers (OEMs), dealers, distributors, and end-users alike.
Atmus is dedicated to innovation and quality, continually enhancing their offerings to meet the evolving demands of various industries. The company’s filtration solutions are integral in ensuring the smooth operation and longevity of engines and equipment, which is critical in sectors with high operational demands.
Recent achievements include advancements in filter technology that contribute to more efficient fuel consumption and reduced environmental impact. Atmus’s commitment to sustainable practices is reflected in their product development and manufacturing processes.
In partnership with Cummins Inc., Atmus has fortified its market position by leveraging Cummins' extensive network and technological expertise. This strategic alliance helps Atmus to deliver high-quality, reliable filtration solutions across the globe.
For those seeking the latest updates on Atmus Filtration Technologies Inc., the company's ongoing projects, financial health, and strategic developments, StockTitan provides comprehensive and current information to stay informed about your investments.
Atmus Filtration Technologies (NYSE: ATMU), a global leader in the filtration industry, has announced it will release its second quarter 2024 financial results on Friday, August 2, 2024, before the market opens. The company will also host a conference call at 10:00 AM CT on the same day to discuss these results with investors. Interested parties can access a live webcast and replay of the conference call through the Atmus investor relations website at http://investors.atmus.com.
Atmus Filtration Technologies Inc. (NYSE: ATMU) has announced its first quarterly cash dividend and a share repurchase program. The company will pay a $0.05 per common share dividend on August 14, 2024, to shareholders of record as of August 1, 2024. Additionally, the Board of Directors has authorized a $150 million share repurchase program, effective immediately.
CEO Steph Disher stated that this capital return program demonstrates Atmus's commitment to enhancing shareholder value. The company's strong cash generation allows it to invest in growth initiatives while returning capital to shareholders. The repurchase program has no expiration date and can be suspended or discontinued at any time.
Atmus Filtration Technologies Inc. reported financial results for Q1 2024, with net sales of $427 million, GAAP net income of $46 million, diluted EPS of $0.54, and adjusted EPS of $0.60. The company reaffirmed its guidance for 2024 with revenue expected to be between $1,610 million to $1,675 million, adjusted EBITDA margin of 18.25% to 19.25%, and adjusted EPS in the range of $2.10 to $2.35. Cummins Inc. completed the divestiture of its ownership in Atmus in March 2024. Despite a slight increase in net sales, the company experienced higher manufacturing costs, lower volumes, and higher cash usage in operating activities compared to the previous year.
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