Atmus Filtration Technologies (ATMU) - 2025 Q1 - Quarterly Results

Financial Performance - Atmus reported net sales of $417 million for Q1 2025, a decrease of 2.4% compared to $427 million in Q1 2024[4] - Gross margin was $111 million, representing 26.5% of net sales, compared to $112 million and 26.2% in the same period last year[5] - GAAP net income for Q1 2025 was $45 million, with diluted earnings per share of $0.54, unchanged from Q1 2024[8] - Net income for the three months ended March 31, 2025, was $44.7 million, slightly down from $45.5 million in the same period of 2024, reflecting a decrease of 1.8%[30] - EBITDA for Q1 2025 was $72.4 million, compared to $74.2 million in Q1 2024, indicating a decline of 2.4%[30] - The net income margin remained stable at 10.7% for both Q1 2025 and Q1 2024[30] Earnings and Cash Flow - Adjusted earnings per share increased to $0.63 in Q1 2025, up from $0.60 in Q1 2024[8] - Adjusted EBITDA was $82 million, with an adjusted EBITDA margin of 19.6%, compared to $80 million and 18.8% in Q1 2024[7] - Adjusted EBITDA increased to $81.7 million in Q1 2025, up from $80.2 million in Q1 2024, showing a growth of 1.9%[30] - Free cash flow for Q1 2025 was $16.3 million, a significant improvement from a negative $18.8 million in Q1 2024[34] - Adjusted free cash flow was $20 million in Q1 2025, compared to $(13) million in Q1 2024[10] Cash and Assets - Cash provided by operating activities was $29 million, a significant improvement from cash used in operating activities of $8 million in Q1 2024[9] - Cash and cash equivalents at the end of Q1 2025 were $183.3 million, down from $184.3 million at the beginning of the period[26] - Total assets increased to $1,228.1 million as of March 31, 2025, up from $1,190.3 million at December 31, 2024, representing a growth of 3.2%[24] Shareholder Returns - Atmus repurchased $10 million of common stock during the quarter, with $120 million remaining under the share repurchase program[3] - A quarterly cash dividend of $0.05 per share was paid during the quarter[3] Guidance and Capital Expenditures - The company reaffirmed its 2025 revenue guidance in the range of $1,670 million to $1,735 million[5] - Capital expenditures for Q1 2025 were $12.4 million, compared to $10.6 million in Q1 2024, reflecting an increase of 16.9%[34] Liabilities - Total current liabilities increased to $351.8 million as of March 31, 2025, from $344.9 million at December 31, 2024, representing a rise of 2.7%[24]