Atmus Q2 net sales rise 5% to $414M; adjusted EPS $0.63 vs $0.60 YoY

Atmus Filtration Technologies Inc.

2023-Q2 EPS reported $1.19 revenue$832,200,000

GAAP net income $46M, diluted EPS $0.55; adjusted EPS $0.63 beats $0.60 prior year.
Adjusted EBITDA $80M, margin 19.3%, up from 17.1% in Q2 2022.
Gross margin improved to 27.7% from 24.3% due to pricing and lower commodity/freight costs.
FY2023 guidance: revenue $1.58B-1.63B, adjusted EPS $2.05-2.25, adjusted EBITDA margin 17.25-18.25%.
One-time separation costs from Cummins of $9M in Q2 2023 versus $1M in Q2 2022.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Atmus Filtration Technologies Inc. reported the second quarter that ended June 30, 2023 results: revenue $414 million, net income $46 million, EPS $0.55 of diluted earnings per share. Guidance initiated.

Period: the second quarter that ended June 30, 2023
Revenue: $414 million
Net income: $46 million
EPS: $0.55 of diluted earnings per share
Guidance: initiated
Result: reported results

Exact text from the filing

August 9, 2023 Atmus Filtration Technologies Reports Second Quarter 2023 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, 2023. Second Quarter Highlights • Net sales of $414 million • GAAP net income of $46 million • Diluted earnings per share of $0.55 • Adjusted earnings per share of $0.63 • Adjusted EBITDA of $80 million and adjusted EBITDA margin of 19.3 percent • Cash provided by operating activities was $46 million • Adjusted free cash flow was $35 million

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Source: SEC EDGAR

accession 0001921963-23-000011

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