Atmus Filtration Technologies (ATMU) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, ATMU broke through the 20-day moving average, which suggests a short-term bullish trend. The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short- term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversa ...

Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Has Atmus Filtration Technologies (ATMU) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.Atmus Filtration Technologies is one of 218 individual stocks in the Industrial Products sector. Collectively, these companies sit at #8 in the Zacks Sector Rank ...

Atmus Filtration Technologies Inc. (NYSE:ATMU) Q2 2024 Earnings Conference Call August 2, 2024 11:00 AM ET Company Participants Todd Chirillo - Executive Director, IR Steph Disher - Chief Executive Officer Jack Kienzler - Chief Financial Officer Conference Call Participants Joe O'Dea - Wells Fargo Tami Zakaria - JPMorgan Rob Mason - Baird David Ridley-Lane - Bank of America Jerry Revich - Goldman Sachs Bobby Brooks - Northland Capital Operator Thank you for standing by. And at this time, I would like to wel ...

Second Quarter 2024 Earnings Call August 2, 2024 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, including, without limitation, those that are based on current expectations, estimates and projections about the industries in which we operate and management's views, plans, objectives, projections, beliefs and assumptions. Forward-looking statements may be ide ...

Financial Performance - Net sales for the three months ended June 30, 2024, were $432.6 million, an increase of $19.0 million or 4.6% compared to $413.6 million in the same period of 2023 [100]. - For the six months ended June 30, 2024, net sales were $859.2 million, an increase of $27.0 million or 3.2% compared to $832.2 million in the same period of 2023 [112]. - Net income for the three months ended June 30, 2024, was $56.2 million, an increase of $10.0 million or 21.6% from $46.2 million in the prior year [100]. - Net income for the six months ended June 30, 2024, was $101.7 million, compared to $98.9 million for the same period in 2023 [144]. - Diluted earnings per share for the six months ended June 30, 2024, was $1.22, compared to $1.19 for the same period in 2023 [146]. - The company reported a net income margin of 11.8% for the six months ended June 30, 2024, compared to 11.9% for the same period in 2023 [144]. Expenses and Costs - The company incurred approximately $3.8 million in one-time expenses during Q2 2024 and $9.8 million for the first half of 2024, with expected one-time expenses of $10 million to $20 million for the full year [97]. - Selling, general and administrative expenses increased due to higher people-related and consulting expenses in the first half of 2024 [96]. - Selling, general, and administrative expenses for the six months ended June 30, 2024, were $92.4 million, an increase of $7.3 million or 8.6% compared to $85.1 million in the same period of 2023 [115]. - Interest expense increased significantly to $10.5 million for the three months ended June 30, 2024, up $6.3 million or 150.0% from $4.2 million in the prior year [107]. - Research, development, and engineering expenses decreased to $10.4 million for the three months ended June 30, 2024, down $1.9 million or 15.4% from $12.3 million in the same period of 2023 [105]. Capital Expenditures - The company expects to incur capital expenditures of approximately $10 million to $20 million in 2024 related to the Separation, primarily for establishing functions previously combined with Cummins [97]. - Capital expenditures for the six months ended June 30, 2024, were $22.2 million, approximately 2.6% of net sales, compared to $19.1 million or 2.3% of net sales in the same period of 2023 [129]. - Capital expenditures for the three months ended June 30, 2024, were $11.6 million, compared to $12.7 million in the same period of 2023, a reduction of 8.7% [149]. Cash Flow - Net cash provided by operating activities was $14.7 million for the six months ended June 30, 2024, a decrease of $74.3 million compared to $89.0 million for the same period in 2023 [127]. - For the three months ended June 30, 2024, cash provided by operating activities was $22.9 million, compared to $46.2 million for the same period in 2023, representing a decrease of 50.5% [149]. - Free cash flow for the three months ended June 30, 2024, was $11.3 million, down from $33.5 million in the prior year, indicating a decline of 66.3% [149]. - Adjusted free cash flow for the three months ended June 30, 2024, was $34.1 million, slightly down from $35.3 million in the same period last year, a decrease of 3.4% [149]. - Adjusted EBITDA for the six months ended June 30, 2024, was $172.7 million, up from $158.3 million in the same period of 2023 [144]. Debt and Financing - As of June 30, 2024, the company had $600 million in outstanding borrowings on a term loan and $400 million available under a revolving credit facility [123]. - The company has a $600 million term loan facility and a $400 million revolving credit facility, with interest rates influenced by the adjusted term SOFR [154]. - A 0.125% change in SOFR would result in an annual impact of $0.8 million on interest expense based on outstanding borrowings as of June 30, 2024 [154]. - The weighted average term of outstanding long-term debt was 3.4 years as of June 30, 2024, with total debt remaining at $600 million [132]. Market and Demand - Approximately 19% of net sales in 2023 were generated through first-fit sales to OEMs, while 81% were from the aftermarket, indicating a strong recurring revenue base [87]. - Aftermarket demand remained depressed in the first half of 2024, with uncertainty regarding recovery in the second half, while first-fit demand was stable [93]. - Overall supply chain conditions have stabilized compared to a year ago, with minimal disruptions and backorders largely recovered in the first half of 2024 [94]. Corporate Structure and Changes - The company was incorporated as a standalone entity on April 1, 2022, and began trading on the NYSE under the symbol "ATMU" on May 26, 2023 [88]. - The full separation from Cummins was completed on March 18, 2024, resulting in the divestiture of Cummins' entire ownership and voting interest in Atmus [90]. Foreign Currency and Risks - The appreciation of the U.S. dollar against foreign currencies had a slightly unfavorable impact on the company's consolidated results in the first half of 2024 [96]. - The company is exposed to foreign currency exchange risks due to its international business presence, which is managed through financial derivative instruments [151]. - Foreign currency forward contracts are utilized to minimize income volatility from remeasurement of net monetary assets and liabilities [152]. - The potential gain or loss from foreign currency contracts, assuming a 10% fluctuation, would not materially impact the financial statements for the three and six months ended June 30, 2024 [152]. Accounting Policies - There have been no material changes to the company's critical accounting policies and estimates from those disclosed in the Annual Report on Form 10-K for the year ended December 31, 2023 [150].

Atmus Filtration Technologies (ATMU) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.63 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 22.41%. A quarter ago, it was expected that this industrial filtration product company would post earnings of $0.59 per share when it actually produced earnings of $0.60, delivering a surprise of 1.69 ...

EXHIBIT 99.1 August 2, 2024 Atmus Filtration Technologies Reports Second Quarter 2024 Results NASHVILLE, Tenn. – Atmus Filtration Technologies Inc. (Atmus; NYSE: ATMU), a global leader in filtration and media solutions, today reported financial results for its second quarter that ended June 30, 2024. Second Quarter Highlights • Net sales of $433 million • GAAP net income of $56 million • Diluted earnings per share of $0.67 • Adjusted earnings per share of $0.71 • Adjusted EBITDA of $93 million and adjusted ...

Increased adoption of renewable sources of energy with rising preference for alternative fuels, the growing popularity of electric vehicles and high costs related to frequent product upgrades have marred the outlook of the Zacks Pollution Control industry. The shortage of skilled labor in the United States is another concern for the industry participants.However, the industry is benefiting from growing health-related concerns and efforts to adhere to pollution-related national and international norms. Tetra ...

Last week, major U.S. indexes, the S&P 500, the Nasdaq Composite and the Dow Jones Industrial Average, gained marginally by 1.6%, 1.8% and 1.4%, respectively. Investors are concerned about the lack of timeline from the central bank regarding interest rate cut initiation amid sticky inflation and a fairly tight labor market.On May 15, the Bureau of Labor Statistics reported that the Consumer Price Index (CPI) for the month of April increased 0.3%, coming in below the consensus estimate of 0.4%. The year-over ...

First Quarter 2024 Earnings Call May 3, 2024 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, including, without limitation, those that are based on current expectations, estimates and projections about the industries in which we operate and management’s views, plans, objectives, projections, beliefs and assumptions. Forward-looking statements may be identif ...