Atmus Filtration Technologies Inc. · NYSE:ATMU
Atmus Filtration Technologies — Q3 2024 Earnings Presentation
15 slides from Atmus Filtration Technologies's earnings presentation, Nov 8, 2024
Slide 1: Third Quarter 2024 Earnings Call
Third Quarter 2024 Earnings Call November 8, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation 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 projecti
Slide 3: Steph Disher, CEO and Jack Kienzler, CFO
Steph Disher Chief Executive Officer Jack Kienzler Chief Financial Officer | 3
Slide 4: Third Quarter 2024 Financial Highlights
Third Quarter 2024 Financial Highlights1 $404 $65 Sales ($ millions) Adj. FCF ($ millions) 19.6% $0.61 Adj. EBITDA Margin Adj. EPS 1. For the 3 months ended September 30, 2024 GAAP net income was $44 million, diluted earnings per share was $0.52 and cash provided by operating activities was $71 mill
Slide 5: Atmus Long-Term Value Creation
Atmus Long-Term Value Creation Mission-Critical Product in Strong Positioning Predictable & & Brand Growing End Recognition Markets Clear Strategy for Consistent & Growth as an Attractive Independent Financial Results Company | 5
Slide 6: Strong Balance Sheet and Capital Return
Strong Balance Sheet and Capital Return Share repurchases initiated in third quarter • $0.05 share Cash Strong Balance Sheet • Consistent long-term capital return Dividend to Drive Growth to shareholders • $116M TTM1 Adj. Free Cash Flow • $10M of share repurchases in Q3 2024 • $597M Liquidity2 Share
Slide 7: Company Results
Company Results Three months ended September 30 2024 2023 Sales $404 $396 Gross margin $111 $103 Gross margin % 27.6% 26.0% Selling, General & Research (SAR) $56 $52 SAR % 13.9% 13.2% Joint venture / other income $9 $9 Adj. EBITDA1 $79 $73 Adj. EBITDA margin % 19.6% 18.3% Net Income $44 $38 Diluted
Slide 8: 2024 Outlook
2024 Outlook Measure FY 2024 outlook Prior outlook Sales ($ millions) $1,650 - $1,675 $1,625 - $1,675 Adj. EBITDA 19.25% - 19.75% 18.50% - 19.50% margin%1 Additional Planning Assumptions Adj. earnings $2.15 - $2.40 $2.35 - $2.50 Joint venture income $32 - $37 per share1 Effective tax rate 21% - 23%
Slide 9: Q&A
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Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures We use non-GAAP financial information and believe it is useful to investors as it provides additional information to facilitate comparisons of historical operating results, identify trends in our underlying operating results and provide additional insight and transparency
Slide 12: EBITDA and Adjusted EBITDA Reconciliations
Non-GAAP Financial Measures EBITDA and Adjusted EBITDA Reconciliations ($ millions) For the Three Months Ended For the Twelve Months Ended September 30, December 31, 2024 2023 2023 2022 NET INCOME $ 44 $ 38 $ 171 $ 170 Plus: Interest expense 10 11 26 1 Income tax expense 10 11 55 42 Depreciation and
Slide 13: Adjusted EPS Reconciliation and Net Debt
Non-GAAP Financial Measures EBITDA and Adjusted EBITDA Reconciliations and Net Debt Adjusted EPS Reconciliation ($ millions) ($ per share) Trailing Twelve Months For the Three Months Ended Sept 30, 2024 September 30, NET INCOME $ 180 Plus: 2024 2023 Interest expense 42 Diluted earnings per share $ 0
Slide 14: Free Cash Flow and Adjusted Free Cash Flow Reconciliations
Non-GAAP Financial Measures Free Cash Flow and Adjusted Free Cash Flow Reconciliations ($ millions) For the Three Months Ended Trailing Twelve September 30, Months 2024 2023 Sept 30, 2024 Cash provided by operating activities $ 71 $ 58 $ 127 Less: Capital expenditures $ 16 $ 11 $ 55 Free cash flow $
Slide 15: Slide 15
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