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Atmus Filtration Technologies (ATMU) - 2024 Q4 - Annual Results
ATMUAtmus Filtration Technologies (ATMU)2025-02-21 11:54

Financial Performance - Atmus reported net sales of 407millionforQ42024,a1.8407 million for Q4 2024, a 1.8% increase from 400 million in Q4 2023[4]. - For the full year 2024, Atmus achieved net sales of 1,670million,up1,670 million, up 42 million or 2.5% from the previous year[11]. - Gross margin for Q4 2024 was 107million,representing26.3107 million, representing 26.3% of net sales, slightly down from 26.4% in Q4 2023[5]. - Adjusted EBITDA for Q4 2024 was 78 million, with an adjusted EBITDA margin of 19.1%, compared to 71millionand17.971 million and 17.9% in Q4 2023[7]. - The company reported GAAP net income of 40 million for Q4 2024, translating to diluted earnings per share of 0.48,upfrom0.48, up from 35 million or 0.42pershareinQ42023[8].−Forthefullyear2024,AtmuspostedaGAAPnetincomeof0.42 per share in Q4 2023[8]. - For the full year 2024, Atmus posted a GAAP net income of 186 million, or 2.22perdilutedshare,comparedto2.22 per diluted share, compared to 171 million or 2.05persharein2023[14].−AdjustedearningspersharefortheyearendedDecember31,2024,roseto2.05 per share in 2023[14]. - Adjusted earnings per share for the year ended December 31, 2024, rose to 2.50, up from 2.31in2023,reflectinganincreaseof8.22.31 in 2023, reflecting an increase of 8.2%[39]. - Basic earnings per share for the year ended December 31, 2024, were 2.23, up from 2.06in2023,representingan8.22.06 in 2023, representing an 8.2% increase[35]. - Net income for the year ended December 31, 2024, reached 185.6 million, a 8.0% increase from 171.3millionin2023[28].CashFlowandCapitalExpenditures−AdjustedfreecashflowforQ42024was171.3 million in 2023[28]. Cash Flow and Capital Expenditures - Adjusted free cash flow for Q4 2024 was 28 million, down from 30millioninQ42023[10].−CashprovidedbyoperatingactivitiesforQ42024was30 million in Q4 2023[10]. - Cash provided by operating activities for Q4 2024 was 20.0 million, a decrease of 52.0% compared to 41.7millioninQ42023[41].−Freecashflow(non−GAAP)forQ42024was41.7 million in Q4 2023[41]. - Free cash flow (non-GAAP) for Q4 2024 was 10.0 million, down 60.8% from 25.5millioninQ42023[41].−Adjustedfreecashflow(non−GAAP)fortheyearendedDecember31,2024,was25.5 million in Q4 2023[41]. - Adjusted free cash flow (non-GAAP) for the year ended December 31, 2024, was 114.5 million, a decrease of 25.0% from 152.4millionin2023[41].−CapitalexpendituresfortheyearendedDecember31,2024,were152.4 million in 2023[41]. - Capital expenditures for the year ended December 31, 2024, were 48.6 million, an increase of 6.1% from 45.8millionin2023[41].−One−timeseparationcapitalexpendituresfortheyearendedDecember31,2024,totaled45.8 million in 2023[41]. - One-time separation capital expenditures for the year ended December 31, 2024, totaled 15.0 million, compared to 9.2millionin2023[41].AssetsandLiabilities−TotalassetsasofDecember31,2024,increasedto9.2 million in 2023[41]. Assets and Liabilities - Total assets as of December 31, 2024, increased to 1,190.3 million from 1,088.6millionin2023,reflectinga9.31,088.6 million in 2023, reflecting a 9.3% growth[31]. - Total liabilities decreased to 962.9 million in 2024 from 1,007.9millionin2023,areductionof4.51,007.9 million in 2023, a reduction of 4.5%[31]. - Cash and cash equivalents at the end of the period increased to 184.3 million from 168.0millionin2023,agrowthof9.1168.0 million in 2023, a growth of 9.1%[32]. Future Outlook - Atmus expects revenue for 2025 to be in the range of 1,670 million to 1,735million,withanadjustedEBITDAmarginbetween19.01,735 million, with an adjusted EBITDA margin between 19.0% and 20.0%[5]. - Adjusted earnings per share for 2025 is projected to be in the range of 2.35 to 2.60[5].One−timeCostsandExpenses−One−timerestructuringcostsforQ42024amountedto2.60[5]. One-time Costs and Expenses - One-time restructuring costs for Q4 2024 amounted to 4.1 million, with no such costs reported in Q4 2023[41]. - The tax impact of one-time restructuring costs for Q4 2024 was 1million,comparedto1 million, compared to 2 million in Q4 2023[39]. - The company reported one-time expenses related to Information Technology, warehousing, manufacturing, and Human Resources separation costs[39].