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Filtration products manufacturer Atmus Filtration Technologies (NYSE: ATMU) will be reporting results this Friday morning. Here’s what to look for.
Atmus Filtration Technologies beat analysts’ revenue expectations by 7.5% last quarter, reporting revenues of $447.7 million, up 10.9% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ adjusted operating income estimates.
This quarter, analysts are expecting Atmus Filtration Technologies’s revenue to grow 4.1% year on year to $423.5 million, improving from the 1.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.57 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Atmus Filtration Technologies has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.3% on average.
Looking at Atmus Filtration Technologies’s peers in the gas and liquid handling segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Flowserve delivered year-on-year revenue growth of 3.5%, missing analysts’ expectations by 3.5%, and Gorman-Rupp reported revenues up 2.4%, in line with consensus estimates. Flowserve traded up 8.2% following the results while Gorman-Rupp was also up 10.3%.
There has been positive sentiment among investors in the gas and liquid handling segment, with share prices up 8.6% on average over the last month. Atmus Filtration Technologies is up 13.4% during the same time and is heading into earnings with an average analyst price target of $60 (compared to the current share price of $63).