Filtration products manufacturer Atmus Filtration Technologies (NYSE: ATMU) will be announcing earnings results this Friday before market open. Here’s what you need to know.
Atmus Filtration Technologies beat analysts’ revenue expectations last quarter, reporting revenues of $477.5 million, up 14.6% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but EBITDA in line with analysts’ 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 12.1% year on year, improving from the 4.8% 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 Q2 results, giving us a hint as to what we can expect. SPX Technologies delivered year-on-year revenue growth of 22.9%, beating analysts’ expectations by 5.8%, and Ingersoll Rand reported revenues up 8.5%, topping estimates by 4.6%. SPX Technologies traded up 10.2% following the results while Ingersoll Rand was down 1.1%.
Read our full analysis of SPX Technologies’s results here and Ingersoll Rand’s results here.
There has been positive sentiment among investors in the gas and liquid handling segment, with share prices up 2.3% on average over the last month. Atmus Filtration Technologies is up 6.6% during the same time and is heading into earnings with an average analyst price target of $66 (compared to the current share price of $54.18).
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