Financial Data and Key Metrics Changes - Sales for Q3 2025 were $448 million, an increase of 10.9% compared to $404 million in Q3 2024, driven by higher volumes, pricing, and favorable foreign exchange [9][13] - Adjusted EBITDA was $92 million, or 20.4%, compared to $79 million, or 19.6% in the prior period [15] - Adjusted earnings per share increased to $0.69 from $0.61 year-over-year [15] - Adjusted free cash flow was $72 million, up from $65 million in the prior year [15] - The effective tax rate for Q3 2025 was 23.6%, compared to 18.4% last year, influenced by changes in earnings mix and U.S. tax legislation [15] Business Line Data and Key Metrics Changes - The company experienced a 6% increase in volumes, a 4% increase in pricing, and a 1% contribution from favorable foreign exchange [13][20] - The aftermarket segment is expected to remain flattish year-over-year, with ongoing challenges in freight activity [10][31] Market Data and Key Metrics Changes - The heavy-duty and medium-duty truck markets in the U.S. are expected to decline by 20%-25% [11] - Demand for trucks in India is anticipated to grow, supported by government infrastructure spending [11] - The company raised its total revenue expectations for the year to a range of $1.72-$1.745 billion, reflecting a 3%-4.5% increase compared to the prior year [11] Company Strategy and Development Direction - The company is focused on a four-pillar growth strategy: growing share in First Fit, accelerating profitable growth in the aftermarket, transforming the supply chain, and expanding into industrial filtration markets [6][8] - The operational separation from the former parent company has been completed, allowing the company to focus on growth and redeploy resources [3][4] - The company plans to continue its share repurchase program and has increased its quarterly dividend by 10% [4][5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to challenging market conditions and deliver strong operational performance [11][12] - The outlook for the aftermarket remains cautious, with expectations of continued flat conditions through the first half of 2026 [31] - The company is optimistic about its growth strategy and the potential for share gains, particularly in the aftermarket and First Fit applications [21][22] Other Important Information - The company has completed its separation activities from Cummins and does not anticipate incurring additional one-time costs related to this in Q4 [15][36] - The company has a strong liquidity position with $218 million in cash and a $400 million revolving credit facility, providing operational flexibility [16] Q&A Session Summary Question: Insights on stronger-than-expected performance and share gains - Management noted that the strong quarter was driven by 8% share gains, despite market headwinds of 2% [20][21] Question: Details on volume growth impact from Stellantis - Management indicated that the 44% increase in Ram volumes was significant but not expected to repeat in future quarters [27][28] Question: Clarification on aftermarket pacing and its sustainability - Management expects the flat aftermarket conditions to persist through the first half of 2026, with no signs of improvement yet [31] Question: Opportunities from the operational separation - Management expressed excitement about focusing resources on growth following the completion of the separation [33][36] Question: Impact of Section 232 tariffs on pricing - Management confirmed ongoing evaluation of tariff implications and plans for price-cost neutrality [39] Question: Positioning for growth in data center engine capacity - Management is targeting new business development in both aftermarket and First Fit applications, while acknowledging limited aftermarket benefits from gensets [41][42] Question: Potential benefits from First Brands' bankruptcy - Management is actively seeking to expand aftermarket coverage and gain market share through existing and new partnerships [44][45]

瑞典阿法拉伐集团创立于1883年，是换热、离心分离和流体处理技术的全球领导者，也是最早进入 中国的外资企业之一，自1984年起，这家企业已扎根中国40余载。 记者 吴卫群 昨天下午，投资中国·2025上海城市投资推介大会举行。会前，记者采访了几位从第八届进博会现 场风尘仆仆赶来的在沪外资企业掌门人。进博会传递出了中国发展的确定性和开放的确定性，进一步增 强了企业扎根上海、深耕中国的信心。"投资中国就是投资未来。"这些掌门人道出共同心声。 欧菲集团早在1996年就在中国设立了第一家工厂——位于青浦的上海索菲玛汽车滤清器有限公司， 主要从事汽车过滤及热管理系统业务，拥有先进的空滤，机滤和燃油滤的试验台和25条最为先进的生产 流水线，产品主要出口至欧洲、北美、日本和澳大利亚等海外市场。 "创新是我们持续进步的核心驱动力，我们将全球收入的5%投入研发。其中，位于上海青浦的研发 与实验中心已经逐步成长为我们全球网络中最大的研发基地之一，可以说是知识、创造力与可持续技术 的聚集地。"泰泽说。 今年是日本无印良品第三次来进博会，本届进博会他们带来了全球首发汉麻设计师合作款及2026年 春夏新款系列。 无印良品中国董事长兼总 ...

Financial Data and Key Metrics Changes - Sales reached a record $454 million, up 4.8% from $433 million in the same period last year, driven by higher volumes and pricing despite unfavorable foreign exchange impacts [12][18] - Adjusted EBITDA was $95 million, representing a margin of 21%, compared to $93 million and 21.4% in the prior year [12][19] - Adjusted earnings per share increased to $0.75 from $0.71 year-over-year [13][19] - Adjusted free cash flow was $36 million, up from $34 million in the prior year [20] Business Line Data and Key Metrics Changes - The aftermarket segment showed strong growth, supported by expanded product coverage and distribution partnerships, while first fit business faced challenges due to regulatory uncertainties [9][48] - The company achieved a 4% increase in volume, with aftermarket contributing significantly to this growth [44][64] Market Data and Key Metrics Changes - The U.S. market is expected to decline by 15% to 25% in heavy and medium-duty segments due to regulatory uncertainties and tariff policies [15] - In China, the market showed temporary growth, but challenging conditions are expected to persist [16] - Overall company revenue guidance for 2025 was raised to a range of 1% to 4% growth compared to the prior year [16] Company Strategy and Development Direction - The company is focused on a four-pillar growth strategy: growing share in first fit, accelerating aftermarket growth, transforming the supply chain, and expanding into the industrial filtration market [8][11] - The operational separation from Cummins is on track for completion in the third quarter, which is expected to enhance operational flexibility [6][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating uncertainties and maintaining operational performance, with expectations for continued growth despite market challenges [5][16] - The company anticipates pricing to provide approximately 2.2% revenue growth, with tariffs expected to fluctuate [14][27] Other Important Information - The company has repurchased $20 million of stock in the second quarter, totaling $30 million year-to-date, with plans for further repurchases [7] - The effective tax rate for 2025 was reported at 21.9%, slightly up from 21.8% in the previous year [20] Q&A Session Summary Question: Pricing expectations and tariff impacts - Management clarified that pricing expectations were adjusted due to changes in tariffs, particularly related to China, with a current expectation of 0.8% pricing impact from tariffs [24][26] Question: EBITDA margin guidance - Management explained that the expected EBITDA margin for the second half is below 19%, influenced by seasonality and market conditions [33][35] Question: Volume experience in the second quarter - Management noted strong volume performance, with some pre-buy activity due to midyear price increases and tariff uncertainties [44][47] Question: Industrial filtration market entry - Management confirmed ongoing efforts to enter the industrial filtration market through both organic and inorganic strategies, with modest growth expected [58][59] Question: Drivers of outperformance in the quarter - Management attributed the outperformance to share gains, effective pricing strategies, and successful tariff mitigation efforts [64][66]

Summary of Atmus Filtration Technologies Inc (ATMU) 2025 Conference Call Company Overview - **Company**: Atmus Filtration Technologies Inc (ATMU) - **Event**: 2025 Conference Call held on May 13, 2025 Key Industry Insights - **Market Resilience**: Atmus has demonstrated resilience in earnings compared to OEMs and other component providers, maintaining guidance despite a 510% cut to U. Machinery stocks EBITDA estimates [3][4] - **Aftermarket Revenue**: Over 80% of Atmus's revenues are derived from the aftermarket, which provides stability during cyclical market downturns [3][4] - **First Fit Revenue**: First fit revenue is currently down in double digits, with guidance indicating a 12% decline year-on-year at the midpoint [6][11] Financial Performance - **Revenue Mix**: First fit accounted for 14% of revenue in 2024, down from previous years, with expectations of 15% to 20% on an annual basis [5][9] - **Flat Revenue Guidance**: The low end of 2025 guidance calls for flat revenue, with no recession anticipated [10] Geographic Market Trends - **North America**: Medium and heavy-duty markets are expected to decline, with ongoing challenges in Latin America and Europe [20][21][22] - **Asia Pacific**: Continued softness in Asia Pacific markets, with India seen as a potential leader out of the downturn [23][24] Growth Strategies - **Latin America Success**: Atmus has achieved a 14% CAGR in Latin America since 2021 by expanding distribution channels and leveraging brand strength [25][27] - **European Market Potential**: Europe is viewed as an underpenetrated market, with opportunities in off-highway sectors like construction and agriculture [28][30] Pricing and Cost Management - **Pricing Strategy**: Atmus plans to implement a 1.7% annual price increase in 2025, responding to inflationary pressures and tariffs [36] - **Tariff Mitigation**: The company is utilizing exemptions under USMCA to offset tariff impacts and is exploring shipping lane reconfigurations [37][39] Regulatory Environment - **Emissions Regulations**: Ongoing reevaluation of emissions regulations may influence market dynamics, with potential impacts on first fit volumes [78][81] Market Sentiment and Outlook - **Uncertainty in the Market**: The overarching sentiment is one of uncertainty, particularly regarding trade policies and market cyclicality [68][69] - **Potential for Recovery**: There is cautious optimism that clarity in trade policies could lead to a resurgence in economic activity [69][70] Conclusion - Atmus Filtration Technologies Inc is navigating a challenging market landscape with a focus on aftermarket resilience, strategic growth in underpenetrated regions, and proactive pricing strategies to mitigate inflation and tariff impacts. The company remains vigilant in monitoring regulatory changes and market conditions to adapt its strategies accordingly.