Filtration products manufacturer Atmus Filtration Technologies (NYSE: ATMU) will be announcing earnings results this Friday before market open. Here’s what to expect.
Atmus Filtration Technologies beat analysts’ revenue expectations last quarter, reporting revenues of $527.9 million, up 16.4% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a beat of analysts’ EPS 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 12.6% year on year, improving from the 10.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 Q3 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 11.8%, beating analysts’ expectations by 6.4%, and ITT reported revenues up 44.2%, topping estimates by 1.7%. Gorman-Rupp traded up 6.9% following the results.
Read our full analysis of Gorman-Rupp’s results here and ITT’s results here.
Investors in the gas and liquid handling segment have had steady hands going into earnings, with share prices flat over the last month. Atmus Filtration Technologies is up 4.1% during the same time and is heading into earnings with an average analyst price target of $62.60 (compared to the current share price of $47.84).
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