Atmus Q3 Profit Beats Estimates; Raises Full-year Earnings Outlook Above View; Stock Up

(RTTNews) - Atmus Filtration Technologies Inc. (ATMU), a provider of filtration and media solutions, Friday reported net income of $43.8 million, or $0.52 per share for the third quarter, higher than $37.6 million, or $0.45 per share in the same period last year. The company also raised its full-year outlook. Atmus shares were up more than 4 percent in pre-market.

Excluding one-time items, adjusted earnings per share were $0.61, that beat the analysts' average estimate of $0.49 per share. Analysts' estimates typically exclude special items.

Operating income grew to $63.2 million from $58.8 million last year.

Sales for the quarter increased to $403.7 million from $396.2 million in the previous year. The consensus estimate was for $403.41 million.

For the full year, the company now expects revenue in the range of $1.650 billion - $1.675 billion, compared with the previous outlook of $1.625 billion - $1.675 billion. Adjusted EPS outlook has been raised to $2.35 - $2.50 from $2.15 - $2.40.

Analysts expect the company to report earnings of $2.2 per share on revenue of $1.66 billion for the year.

Atmus stock had closed at $41.47, down 0.12 percent on Thursday. It has traded in the range of $19.04 - $42.96 in the last 1 year.