Atmus Filtration Technologies reports developments tied to its global filtration and media solutions business. The company operates Power Solutions, which serves on- and off-highway equipment markets through the Fleetguard brand, and Industrial Solutions, which serves commercial and industrial HVAC, data center and power generation environments through the Koch Filter brand.
Recurring news includes quarterly and annual results, segment performance, dividend declarations, board and executive appointments, supply chain leadership, testing and laboratory capabilities, and integration of the completed Koch Filter acquisition that established the Industrial Solutions segment.
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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