ATMU

Atmus Filtration Q4 Profit Drops, But Above View; Expects Full-year Results Above Consensus - Update

(RTTNews) - (Adds Outlook)

Atmus Filtration Technologies Inc. (ATMU) released earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $34.8 million, or $0.42 per share. This compares with $36 million, or $0.43 per share, in last year's fourth quarter.

Excluding items, Atmus Filtration Technologies Inc. reported adjusted earnings of $0.49 per share for the period.

Analysts on average had expected the company to earn $0.4 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.8% to $399.7 million from $385.2 million last year.

Outlook:

Looking ahead, for the full year, the company has initiated earnings and revenue guidance above analysts' estimates.  Excluding items, Atmus expects annual income per share of $2.10 to $2.35.

On average, six analysts polled by Thomson Reuters forecast the firm to earn $2.03 per share, for the year. Analysts' estimates typically exclude special items.

The company expects annual revenue of $1.610 billion to $1.675 billion, above the analysts' estimate of $1.59 billion.

Atmus Filtration Technologies Inc. Q4 earnings at a glance (GAAP) :

-Earnings (Q4): $34.8 Mln. vs. $36 Mln. last year. -EPS (Q4): $0.42 vs. $0.43 last year. -Analyst Estimates: $0.4 -Revenue (Q4): $399.7 Mln vs. $385.2 Mln last year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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