Press Release: Atmus Filtration Technologies Reports First Quarter 2026 Results

Dow Jones
05/01
NASHVILLE, Tenn.--(BUSINESS WIRE)--May 01, 2026-- 

Atmus Filtration Technologies Inc. (Atmus; NYSE: ATMU), a global leader in filtration and media solutions, today reported financial results for its first quarter that ended March 31, 2026.

First Quarter Highlights

   --  Net sales of $478 million 
 
          --  Power Solutions segment net sales of $439 million 
 
          --  Industrial Solutions segment net sales of $38 million 
 
 
 
   --  GAAP net income of $48 million 
 
   --  Diluted earnings per share of $0.59 
 
   --  Adjusted earnings per share of $0.69 
 
   --  Adjusted EBITDA of $95 million and Adjusted EBITDA margin of 19.8% 
 
          --  Power Solutions Segment Adjusted EBITDA of $86 million and 
             Adjusted EBITDA margin of 19.6% 
 
          --  Industrial Solutions Segment Adjusted EBITDA of $8 million and 
             Adjusted EBITDA margin of 21.9% 
 
 
 
   --  Cash provided by operating activities was $38 million 
 
   --  Adjusted free cash flow was $33 million 

Atmus completed the acquisition of Koch Filter Corporation ("Koch Filter") on January 7, 2026. The portfolio addition established Atmus' Industrial Solutions segment, where Koch Filter results are reported. With the acquisition, Atmus reports on two business segments: Power Solutions, which serves global on- and off-highway equipment markets through its Fleetguard$(R)$ brand; and Industrial Solutions, which addresses commercial and industrial HVAC applications, and high-growth end markets including data centers and power generation environments through its Koch Filter(R) brand.

2026 Outlook

The company is reaffirming guidance for the full year 2026 as follows:

   --  Total company Net sales to be in the range of $1,945 million to $2,015 
      million 
   --  Power Solutions segment expected to be in the range of $1,790 million 
      to $1,850 million 
   --  Industrial Solutions segment expected to be in the range of $155 
      million to $165 million 
   --  Adjusted EBITDA margin to be in the range of 19.5% to 20.5% 
   --  Adjusted earnings per share in the range of $2.75 to $3.00 

During the quarter, Atmus repurchased $7 million of common stock under the $150 million share repurchase program authorized by the Board of Directors in July 2024. As of March 31, 2026, $62 million was remaining under the authorization. Additionally, Atmus paid a quarterly cash dividend of $0.055 per share of common stock.

"The Atmus team delivered strong financial results while simultaneously integrating Koch Filter to unlock growth for our Industrial Solutions business segment," said Steph Disher, Chief Executive Officer of Atmus. "I continue to be inspired by our people's ability to navigate uncertain markets and execute our four-pillar growth strategy to deliver long-term shareholder value."

First Quarter Results

For the first quarter of 2026, Atmus posted net sales of $478 million, compared to $417 million in the first quarter of 2025, an increase of 14.6%. The increase in sales was primarily driven by the acquisition of Koch Filter, the favorable impacts of currency and increases in pricing, partially offset by lower volumes.

Gross margin was $137 million, compared to $111 million in the first quarter of 2025. Gross margin as a percent of net sales was 28.6% compared to 26.5% in the same period last year. The increase in Gross margin was primarily due to incremental margin from the acquisition of Koch Filter, increases in pricing, lower one-time costs associated with the separation of the business from Cummins Inc. and favorable impacts of currency, partially offset by higher logistics and duties costs, lower volumes and other manufacturing costs.

Adjusted EBITDA was $95 million, compared to $82 million in the first quarter of 2025. Adjusted EBITDA margin was 19.8% compared to 19.6% in the same period last year. Adjusted EBITDA in the first quarter of 2026 excludes $6 million of acquisition costs and $1 million of one-time integration costs associated with the acquisition of Koch Filter compared to the prior year quarter which excludes $9 million of one-time costs associated with the separation of the business from Cummins.

Net income was $48 million, or $0.59 of diluted earnings per share in the first quarter of 2026, compared to $45 million, or $0.54 of diluted earnings per share in the same period last year.

Adjusted earnings per share was $0.69 in the first quarter of 2026, compared to $0.63 of Adjusted earnings per share in the same period last year.

The effective tax rate for the first quarter of 2026 was 20.9% compared to 21.3% for the same period last year.

Cash provided by operating activities was $38 million in the first quarter of 2026, compared to cash provided by operating activities of $29 million in the first quarter of 2025.

Adjusted free cash flow was $33 million in the first quarter of 2026, compared to $20 million in the first quarter of 2025. Adjusted free cash flow in the first quarter of 2026 excludes $6 million of acquisition costs and $1 million of one-time integration costs associated with the acquisition of Koch Filter. The first quarter of 2025 excludes $4 million of one-time adjustments associated with the separation of the business from Cummins.

First Quarter 2026 Conference Call and Webcast

Atmus will host a conference call and webcast to discuss the company's first quarter 2026 results on Friday, May 1, 2026, at 10:00 a.m. CT.

A live webcast and replay of the conference call can be accessed from the Atmus investor relations website at https://investors.atmus.com.

About Atmus Filtration Technologies Inc.

Atmus Filtration Technologies Inc. (Atmus; NYSE: ATMU) is a global leader in filtration and media solutions. With more than 65 years of innovation and engineering expertise to deliver high-performance filtration solutions, Atmus operates through two business segments: Power Solutions, which serves global on- and off-highway equipment markets through its trusted Fleetguard(R) brand; and Industrial Solutions, which addresses commercial and industrial HVAC applications, and high- growth end markets including data centers and power generation environments -- through its dependable Koch Filter(R) brand. Headquartered in Nashville, Tenn., Atmus employs nearly 5,000 people worldwide who are committed to creating a better future by protecting what is important. Learn more at https://www.atmus.com.

Forward-looking disclosure statement

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, including, without limitation, those that are based on current expectations, estimates and projections about the industries in which we operate and management's views, plans, objectives, projections, beliefs and assumptions. Forward-looking statements may be identified by the use of words such as "anticipates," "expects," "forecasts," "intends," "plans," "believes," "seeks," "estimates," "could," "should," "may" or words of similar meaning. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding the outlook for our future business and financial performance, discussions of future operations, our strategy for growth and market position. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. If the underlying assumptions prove inaccurate, or known or unknown risks or uncertainties materialize, our actual outcomes, results and financial condition may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Risks and uncertainties include, but are not limited to, those reflected in Part I, Item 1A, "Risk Factors," and elsewhere in our Annual Report on Form 10-K for our fiscal year ended December '31, 2025, in our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026 and also as may be described from time to time in future reports we file with the Securities and Exchange Commission (SEC). You are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements made herein are made only as of the date hereof and we undertake no obligation to publicly update or to revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Non-GAAP measures

We use non-GAAP financial information and believe it is useful to investors as it provides additional information to facilitate comparisons of historical operating results, identify trends in our underlying operating results and provide additional insight and transparency on how we evaluate our business. We use non-GAAP financial measures to budget, make operating and strategic decisions and evaluate our performance. We have detailed the non-GAAP adjustments that we make in our non-GAAP definitions below. We believe the non-GAAP measures should always be considered along with the related U.S. GAAP financial measures. We have provided the reconciliations between the U.S. GAAP and non-GAAP financial measures and we also discuss our underlying U.S. GAAP results throughout our Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for our fiscal year ended December 31, 2025 and in our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026.

Our primary non-GAAP financial measures are listed below and reflect how we evaluate our current and prior-year operating results. As new events or circumstances arise, these definitions could change. When our definitions change, we provide the updated definitions and present the related non-GAAP historical results on a comparable basis.

   --  "EBITDA" is defined as earnings or losses before interest expense, 
      income taxes, depreciation and amortization and "EBITDA margin" is 
      defined as EBITDA as a percent of Net sales. We believe EBITDA and EBITDA 
      margin are useful measures of our operating performance as they assist 
      investors and debt holders in comparing our performance on a consistent 
      basis without regard to financing methods, capital structure, income 
      taxes or depreciation and amortization methods, which can vary 
      significantly depending upon many factors. Additionally, we believe these 
      metrics are widely used by investors, securities analysts, ratings 
      agencies and others in our industry in evaluating performance. 
   --  "Adjusted EBITDA" is defined as EBITDA after adding back certain 
      one-time expenses, reflected in Cost of sales and Selling, general and 
      administrative expenses, associated with becoming a standalone public 
      company, transaction costs associated with the Koch Filter acquisition 
      and costs related to the integration of Koch Filter and "Adjusted EBITDA 
      margin" is defined as Adjusted EBITDA as a percent of Net sales. We 
      believe Adjusted EBITDA and Adjusted EBITDA margin are useful measures of 
      our operating performance as they allow investors and debt holders to 
      compare our performance on a consistent basis without regard to one-time 
      costs attributable to our becoming a standalone public company and costs 
      associated with the acquisition and integration of Koch Filter. 
   --  "Adjusted earnings per share" is defined as diluted earnings per share 
      (the most comparable U.S. GAAP financial measure) after adding back 
      certain one-time expenses, reflected in Cost of sales and Selling, 
      general and administrative expenses, associated with becoming a 
      standalone public company, transaction costs associated with the Koch 
      Filter acquisition, costs related to the integration of Koch Filter and 
      amortization of the intangible assets acquired in the Koch Filter 
      acquisition less the related tax impact of the same one-time expenses, 
      acquisition and integration costs and amortization expense. We believe 
      Adjusted earnings per share provides improved comparability of underlying 
      operating results. 
   --  "Free cash flow" is defined as cash flows provided by (used for) 
      operating activities less capital expenditures and "Adjusted free cash 
      flow" is defined as Free cash flow after adding back certain one-time 
      items associated with becoming a standalone public company, transaction 
      costs associated with the Koch Filter acquisition and costs related to 
      the integration of Koch Filter. We believe Free cash flow and Adjusted 
      free cash flow are useful metrics used by management and investors to 
      analyze our ability to service and repay debt and return value to 
      shareholders. 

The metrics defined above are not in accordance with, or alternatives for, U.S. GAAP financial measures and may not be consistent with measures used by other companies. It should be considered supplemental data; however, the amounts included in the EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted earnings per share, Free cash flow and Adjusted free cash flow calculations are derived from amounts included in the consolidated statements of net income and cash flows.

We do not consider our non-GAAP financial measures as superior to, or a substitute for, the equivalent measures calculated and presented in accordance with GAAP. Some of the limitations are: such measures do not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments; such measures do not reflect changes in, or cash requirements for, our working capital needs; such measures do not reflect the interest expense or the cash requirements necessary to service interest or principal payments on our debt; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future and such measures do not reflect any cash requirements for such replacements; and other companies in our industry may calculate such measures differently than we do, limiting their usefulness as comparative measures. To properly and prudently evaluate our business, we encourage you to review the unaudited condensed consolidated financial statements included in our SEC filings and not rely on a single financial measure to evaluate our business.

ATMUS FILTRATION TECHNOLOGIES INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME

(in millions of U.S. dollars, except per share data)

(Unaudited)

 
                                   For the Three Months Ended March 31, 
                              ---------------------------------------------- 
                                       2026                     2025 
                              ---  -------------  ---  ---  ------------ 
NET SALES(a)                    $          477.5         $         416.5 
    Cost of sales                          340.7                   306.0 
                              ---  -------------  ---  ---  ------------ 
GROSS MARGIN                               136.8                   110.5 
OPERATING EXPENSES AND 
INCOME 
    Selling, general and 
     administrative 
     expenses                               51.0                    45.9 
    Research, development 
     and engineering 
     expenses                                8.1                     9.1 
    Equity, royalty and 
     interest income from 
     investees                               7.6                     9.2 
    Intangible asset 
    amortization                             2.9                      -- 
    Other operating expense 
     (income), net                           6.1                    (0.2) 
                              ---  -------------  ---  ---  ------------ 
OPERATING INCOME                            76.3                    64.9 
    Interest expense                        14.1                     8.4 
    Other (expense) income, 
     net                                    (1.0)                    0.3 
                              ---  -------------       ---  ------------ 
INCOME BEFORE INCOME TAXES                  61.2                    56.8 
    Income tax expense                      12.8                    12.1 
                              ---  -------------  ---  ---  ------------ 
NET INCOME                      $           48.4         $          44.7 
                              ===  =============  ===  ===  ============ 
PER SHARE DATA: 
Weighted-average shares for 
 basic EPS                                  81.6                    82.8 
Weighted-average shares for 
 diluted EPS                                82.0                    83.2 
 
Basic earnings per share        $           0.59         $          0.54 
                              ===  =============  ===  ===  ============ 
Diluted earnings per share      $           0.59         $          0.54 
                              ===  =============  ===  ===  ============ 
 
 
(a)    Includes sales to related parties of $13.8 million for the three months 
       ended March 31, 2026, compared with $13.7 million for the three months 
       ended March 31, 2025. 
 

ATMUS FILTRATION TECHNOLOGIES INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions of U.S. dollars, except share data)

(Unaudited)

 
                                            March 31,      December 31, 
                                               2026             2025 
                                           ------------  ----------------- 
ASSETS 
   Cash and cash equivalents               $     209.6    $       236.4 
   Trade and other receivables, net              355.6            320.1 
   Inventories                                   298.7            282.3 
   Prepaid expenses and other current 
    assets                                        47.2             53.6 
                                               -------       ---------- 
Total current assets                             911.1            892.4 
   Property, plant and equipment, net            212.6            197.1 
   Investments and advances related to 
    equity method investees                       92.1             89.2 
   Goodwill                                      303.9             84.7 
   Intangible assets, net                        212.1               -- 
   Other assets                                  110.0             87.3 
                                               -------       ---------- 
TOTAL ASSETS                               $   1,841.8    $     1,350.7 
                                               =======       ========== 
LIABILITIES 
   Accounts payable                        $     234.1    $       201.9 
   Accrued compensation, benefits and 
    retirement costs                              25.2             37.9 
   Current portion of accrued product 
    warranty                                       3.7              5.4 
   Current maturities of long-term debt             --             30.0 
   Other accrued expenses                         97.6             93.0 
                                               -------       ---------- 
Total current liabilities                        360.6            368.2 
                                               -------       ---------- 
   Long-term debt                                998.1            540.0 
   Accrued product warranty                        5.6              8.0 
   Other liabilities                              74.0             56.0 
                                               -------       ---------- 
TOTAL LIABILITIES                              1,438.3            972.2 
Commitments and contingencies (Note 9) 
EQUITY 
   Common stock, $0.0001 par value 
   (2,000,000,000 shares authorized, 
   83,782,408 and 83,504,555 shares 
   issued at March 31, 2026 and December 
   31, 2025, respectively)                          --               -- 
   Additional paid-in capital                     65.1             72.7 
   Retained earnings                             498.6            454.6 
   Accumulated other comprehensive loss          (72.2)           (68.1) 
   Treasury stock, at cost (2,109,980 
    shares at March 31, 2026 and 
    1,995,964 shares at December 31, 
    2025)                                        (88.0)           (80.7) 
                                               -------       ---------- 
         TOTAL EQUITY                            403.5            378.5 
                                               -------       ---------- 
            TOTAL LIABILITIES AND EQUITY   $   1,841.8    $     1,350.7 
                                               =======       ========== 
 

ATMUS FILTRATION TECHNOLOGIES INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions of U.S. dollars)

(Unaudited)

 
                                   For the Three Months Ended March 31, 
                              ---------------------------------------------- 
                                        2026                    2025 
                              ---  ---------------          ------------ 
CASH PROVIDED BY (USED IN) 
OPERATING ACTIVITIES 
   Net income                   $             48.4       $          44.7 
    Adjustments to reconcile 
    net income to operating 
    cash flows: 
     Depreciation and 
      amortization                            11.8                   7.2 
     Deferred income taxes                     1.5                  (0.1) 
     Equity in income of 
      investees, net of 
      dividends                               (6.0)                 (1.9) 
     Share-based 
      compensation                             3.4                   2.3 
     Foreign currency 
      remeasurement and 
      transaction exposure                    (3.1)                 (0.5) 
     Changes in current 
     assets and 
     liabilities: 
       Trade and other 
        receivables                          (16.9)                (24.9) 
       Inventories                            (4.3)                 (1.1) 
       Prepaid expenses and 
        other current 
        assets                                 7.0                   3.4 
       Accounts payable                        6.8                  22.5 
       Other accrued 
        expenses                             (15.8)                (22.0) 
     Changes in other 
      liabilities                             (5.3)                  0.2 
     Other, net                               10.6                  (1.1) 
                              ---  ---------------          ------------ 
       Net cash provided by 
        operating 
        activities                            38.1                  28.7 
                              ---  ---------------          ------------ 
CASH USED IN INVESTING 
ACTIVITIES 
   Capital expenditures                      (12.6)                (12.4) 
   Acquisitions, net of cash 
    acquired                                (455.3)                   -- 
                              ---  ---------------          ------------ 
        Net cash used in 
         investing 
         activities                         (467.9)                (12.4) 
                              ---  ---------------          ------------ 
CASH PROVIDED BY (USED IN) 
FINANCING ACTIVITIES 
   Long-term debt proceeds, 
   net of financing costs 
   paid                                      995.6                    -- 
   Payments on long-term 
    debt                                    (570.0)                 (3.8) 
   Repurchases of Common 
    stock                                     (7.3)                (10.0) 
   Dividends paid                             (4.4)                 (4.1) 
   Withholding taxes paid on 
    stock-based 
    compensation                             (11.0)                   -- 
   Other, net                                 (0.3)                   -- 
                              ---  ---------------          ------------ 
          Net cash provided 
           by (used in) 
           financing 
           activities                        402.6                 (17.9) 
                              ---  ---------------          ------------ 
   Effect of exchange rate 
    changes on cash and cash 
    equivalents                                0.4                   0.6 
                              ---  ---------------          ------------ 
   Net decrease in cash and 
    cash equivalents                         (26.8)                 (1.0) 
   Cash and cash equivalents 
    at beginning of period                   236.4                 184.3 
                              ---  ---------------          ------------ 
CASH AND CASH EQUIVALENTS AT 
 END OF PERIOD                  $            209.6       $         183.3 
                              ===  ===============          ============ 
 

ATMUS FILTRATION TECHNOLOGIES INC. AND SUBSIDIARIES

EARNINGS PER SHARE - RECONCILIATION

(in millions of U.S. dollars, except per share data)

(Unaudited)

 
                                     For the Three Months Ended March 31, 
                                  ------------------------------------------ 
                                             2026                  2025 
Net income                           $             48.4    $            44.7 
                                  ----  ---------------  ---  -------------- 
Weighted-average shares for 
 basic EPS                                         81.6                 82.8 
     Plus incremental shares 
      from assumed conversions 
      of long-term incentive 
      plan shares                                   0.4                  0.4 
                                  ----  ---------------  ---  -------------- 
Weighted-average shares for 
 diluted EPS                                       82.0                 83.2 
                                  ====  ===============  ===  ============== 
Basic earnings per share             $             0.59    $            0.54 
                                  ====  ===============  ===  ============== 
Diluted earnings per share           $             0.59    $            0.54 
                                  ====  ===============  ===  ============== 
 

ATMUS FILTRATION TECHNOLOGIES INC. AND SUBSIDIARIES

NET INCOME TO EBITDA AND ADJUSTED EBITDA - RECONCILIATION

(in millions of U.S. dollars)

(Unaudited)

 
                                   For the Three Months Ended March 31, 
                              ---------------------------------------------- 
                                       2026                   2025 
NET INCOME                      $          48.4         $         44.7 
Plus: 
     Interest expense                      14.1                    8.4 
     Income tax expense                    12.8                   12.1 
     Depreciation and 
      amortization                         11.8                    7.2 
                              ---  ------------  ----      -----------  ---- 
EBITDA (non-GAAP)               $          87.1         $         72.4 
                              ===  ============  ====      ===========  ==== 
Plus: 
     Acquisition costs(a)       $           6.3         $           -- 
     One-time integration 
     costs(a)                               1.1                     -- 
     One-time separation 
      costs(b)                               --                    9.3 
                              ---  ------------  ----      -----------  ---- 
Adjusted EBITDA (non-GAAP)      $          94.5         $         81.7 
                              ===  ============  ====      ===========  ==== 
Net sales                       $         477.5         $        416.5 
Net income margin                          10.1%                  10.7% 
EBITDA margin (non-GAAP)                   18.2%                  17.4% 
Adjusted EBITDA margin 
 (non-GAAP)                                19.8%                  19.6% 
 
 
(a)    Primarily comprised of transaction costs associated to the Koch Filter 
       acquisition and other Information Technology, Human Resources and 
       manufacturing costs related to the integration of Koch Filter. 
(b)    Primarily comprised of one-time expenses related to Information 
       Technology, warehousing, manufacturing and Human Resources separation 
       costs. 
 

ATMUS FILTRATION TECHNOLOGIES INC. AND SUBSIDIARIES

DILUTED EARNINGS PER SHARE TO ADJUSTED EARNINGS PER SHARE - RECONCILIATION

(per share)

(Unaudited)

 
                                     For the Three Months Ended March 31, 
                                  ------------------------------------------ 
                                             2026                  2025 
Diluted earnings per share           $             0.59    $            0.54 
Plus: 
   Acquisition costs(a)              $             0.08    $              -- 
   One-time integration costs(a)                   0.01                   -- 
   One-time separation costs(b)                      --                 0.11 
   Intangible asset 
   amortization(c)                                 0.04                   -- 
Less: 
   Tax impact of acquisition 
    costs(a)                         $             0.02    $              -- 
   Tax impact of one-time 
   integration costs(a)                              --                   -- 
   Tax impact of one-time 
    separation costs(b)                              --                 0.02 
   Tax impact of intangible 
   asset amortization(c)                           0.01                   -- 
                                  ----  ---------------  ---  -------------- 
Adjusted earnings per share          $             0.69    $            0.63 
                                  ====  ===============  ===  ============== 
 
 
(a)    Primarily comprised of transaction costs associated to the Koch Filter 
       acquisition and other Information Technology, Human Resources and 
       manufacturing costs related to the integration of Koch Filter. The tax 
       impact of acquisition costs and integration costs for the three months 
       ended March 31, 2026 were $1.3 million and $0.2 million, respectively. 
(b)    Primarily comprised of one-time expenses related to Information 
       Technology, warehousing, manufacturing and Human Resources separation 
       costs and the related tax impact of those expenses. The tax impact of 
       one-time separation costs for the three months ended March 31, 2025 
       were $2.0 million. 
(c)    Amortization expense of the intangible assets acquired in the Koch 
       Filter acquisition was $2.9 million for the three months ended March 
       31, 2026. The tax impact of the amortization expense for the three 
       months ended March 31, 2026 was $0.6 million. 
 

ATMUS FILTRATION TECHNOLOGIES INC. AND SUBSIDIARIES

CASH FLOWS FROM OPERATING ACTIVITIES TO FREE CASH FLOW AND

ADJUSTED FREE CASH FLOW - RECONCILIATION

(in millions of U.S. dollars)

(Unaudited)

 
                                     For the Three Months Ended March 31, 
                                  ------------------------------------------ 
                                             2026                  2025 
Cash provided by operating 
 activities                          $             38.1    $            28.7 
Less: 
   Capital expenditures                            12.6                 12.4 
                                  ----  ---------------  ---  -------------- 
Free cash flow (non-GAAP)            $             25.5    $            16.3 
                                  ====  ===============  ===  ============== 
Plus: 
   Acquisition costs                 $              6.3    $              -- 
   One-time integration costs                       1.1                   -- 
   One-time separation capital 
    expenditures                                     --                  3.5 
                                  ----  ---------------  ---  -------------- 
Adjusted free cash flow 
 (non-GAAP)                          $             32.9    $            19.8 
                                  ====  ===============  ===  ============== 
 

ATMUS FILTRATION TECHNOLOGIES INC. AND SUBSIDIARIES

SUMMARIZED SEGMENT OPERATING RESULTS AND RECONCILIATION TO

INCOME BEFORE INCOME TAXES

(in millions of U.S. dollars)

(Unaudited)

 
                        For the Three Months Ended March 31, 2026 
                         Power 
                       Solutions        Industrial Solutions     Total 
                 ---------------------  ---------------------  --------- 
External Sales      $      439.1           $       38.4        $   477.5 
 
Cost of sales              312.7                   27.5 
Selling, 
 general and 
 administrative 
 expenses                   47.2                    3.2 
Research, 
development and 
engineering 
expenses                     8.1                     -- 
Equity, royalty 
and interest 
income from 
investees                    7.6                     -- 
Other expense 
(income) (a)                 0.8                     -- 
Add back: 
 Depreciation 
 and 
 amortization 
 (b)                         8.2                    0.7 
                 ----  ---------  ----  ----  ---------  ---- 
Segment 
 Adjusted 
 EBITDA             $       86.1           $        8.4        $    94.5 
                 ====  =========  ====  ====  =========  ====   ======== 
 
Segment 
 Adjusted 
 EBITDA Margin              19.6%                  21.9% 
 
Reconciliation 
to Income 
before income 
taxes: 
Corporate 
 expenses (c)                                                  $     7.4 
Interest 
 expenses                                                           14.1 
Depreciation 
 and 
 amortization                                                       11.8 
                                                                -------- 
Income before 
 income taxes                                                  $    61.2 
                                                                ======== 
 
 
(a)      Other expense (income) includes Other operating expense (income), net 
         and Other (expense) income, net from our Condensed Consolidated 
         Statement of Net Income. 
(b)      Depreciation and amortization are not considered significant segment 
         expenses but are presented here to reconcile to Segment Adjusted 
         EBITDA, the measure used by our CODM. The amount of depreciation and 
         amortization disclosed by reportable segment is included within the 
         cost of sales and selling, general and administrative expenses. 
(c)      Corporate expenses include $7.4 million of costs associated with the 
         acquisition and subsequent integration of Koch Filter. 
 
 
                               For the Three Months Ended March 31, 2025 
                                    Power Solutions                Total 
                           ----------------------------------  ------------- 
External Sales                $                 416.5           $      416.5 
 
Cost of sales                                   299.2 
Selling, general and 
 administrative expenses                         43.4 
Research, development and 
 engineering expenses                             9.1 
Equity, royalty and 
 interest income from 
 investees                                        9.2 
Other (income) expense 
 (a)                                             (0.5) 
Add back: Depreciation 
 and amortization (b)                             7.2 
                           ----  --------------------  ------ 
Segment Adjusted EBITDA       $                  81.7           $       81.7 
                           ====  ====================  ======      ========= 
 
Segment Adjusted EBITDA 
 Margin                                          19.6% 
 
Reconciliation to Income 
before income taxes: 
Corporate expenses (c)                                          $        9.3 
Interest expenses                                                        8.4 
Depreciation and 
 amortization                                                            7.2 
                                                                   --------- 
Income before income 
 taxes                                                          $       56.8 
                                                                   ========= 
 
 
(a)    Other (income) expense includes Other operating expense (income), net 
       and Other (expense) income, net from our Condensed Consolidated 
       Statements of Net Income. 
(b)    Depreciation and amortization are not considered significant segment 
       expenses but are presented here to reconcile to Segment Adjusted 
       EBITDA, the measure used by our CODM. The amount of depreciation and 
       amortization disclosed by reportable segment is included within the 
       cost of sales and selling, general and administrative expenses. 
(c)    Corporate expenses include $9.3 million of one-time separation costs. 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260501750864/en/

 
    CONTACT:    Media Contacts 

Investor relations:

Todd Chirillo

investor.relations@atmus.com

Media relations:

Jayme Owen

media.inquiries@atmus.com

 
 

(END) Dow Jones Newswires

May 01, 2026 06:45 ET (10:45 GMT)

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