Filtration products manufacturer Atmus Filtration Technologies (NYSE: ATMU) will be reporting earnings this Friday before market hours. Here’s what to expect.
Atmus Filtration Technologies beat analysts’ revenue expectations last quarter, reporting revenues of $446.6 million, up 9.8% 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.
Is Atmus Filtration Technologies a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Atmus Filtration Technologies’s revenue to grow 12.8% year on year, a reversal from the 2.4% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Atmus Filtration Technologies rarely misses Wall Street’s revenue estimates.
Looking at Atmus Filtration Technologies’s peers in the gas and liquid handling segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 7.7%, beating analysts’ expectations by 3.5%, and IDEX reported revenues up 8.9%, topping estimates by 4.7%. Gorman-Rupp traded up 16% following the results.
Read our full analysis of Gorman-Rupp’s results here and IDEX’s results here.
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 6.4% during the same time and is heading into earnings with an average analyst price target of $68.60 (compared to the current share price of $60.41).
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