Atmus Filtration Technologies Q3 Earnings Fall

(RTTNews) - Atmus Filtration Technologies Inc. (ATMU), a global provider of filtration and media solutions on Friday reported lower revenues and profits for the third quarter ended September 30, 2023.

Net income was reported at $38 million, or $0.45 per share in the third quarter of 2023, compared with $50 million, or $0.61 per share in the same period last year.

Adjusted earnings per share was $0.52 in the third quarter of 2023, compared to $0.62 per share in the same period last year.

5 analysts polled by Thomson Reuters were expecting the company to report earnings of $0.45 per share. Analysts typically exclude one-time items.

Net Sales declined to $396.2 million, from $401.2 million in the third quarter of 2022.

5 analysts polled by Thomson Reuters were expecting the company to report revenues of $391.2 million.

For the year 2023, the company has narrowed the revenue guidance to the range of $1.600 billion to $1.625 billion, versus the previous guidance range between $1.58 billion and $1.63 billion. Five analysts polled by Thomson Reuters are expecting the company to report revenues of $1.61 billion in 2023.

Adjusted earnings per share is now expected in the range of $2.20 to $2.30, as compared with the previous guidance which was in a range of $2.05 to $2.25. Five analysts polled by Thomson Reuters are expecting the company to report earnings of $2.17 in the year 2023. Analysts typically exclude one-time items.