Atmus Filtration Technologies Inc. · NYSE:ATMU
Atmus Filtration Technologies — Q2 2024 Earnings Presentation
15 slides from Atmus Filtration Technologies's earnings presentation, Aug 2, 2024
Slide 1: Second Quarter 2024 Earnings Call
Second Quarter 2024 Earnings Call August 2, 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: Second Quarter 2024 Financial Highlights
Second Quarter 2024 Financial Highlights1 $433 $34 Sales ($ millions) Adj. FCF ($ millions) 21.4% $0.71 Adj. EBITDA Margin Adj. EPS 1. For the 3 months ended June 30, 2024 GAAP net income was $56 million, diluted earnings per share was $0.67 and cash provided by operating activities was $23 million.
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: Comprehensive Capital Return Program
Comprehensive Capital Return Program Expanding our value by returning capital to shareholders Strong Balance Sheet to Cash • $0.05 share Drive Growth Dividend Sharelong-term • Consistent repurchase capital return Initiated to shareholders authorized • $101M TTM1 Adj. Free Cash Flow • $561M Liquidity
Slide 7: Company Results
Company Results Three months ended June 30 2024 2023 Sales $433 $414 Gross margin $132 $114 Gross margin % 30.5% 27.7% Selling, General & Research (SAR) $60 $58 SAR % 13.8% 14.1% Joint venture / other income $10 $9 Adj. EBITDA1 $93 $80 Adj. EBITDA margin % 21.4% 19.3% Net Income $56 $46 Diluted earn
Slide 8: 2024 Outlook
2024 Outlook Measure FY 2024 outlook Prior outlook Sales ($ millions) $1,625 - $1,675 $1,610 - $1,675 Adj. EBITDA 18.50% - 19.50% 18.25% - 19.25% margin%1 Additional Planning Assumptions Adj. earnings per $2.15 - $2.40 $2.10 - $2.35 Joint venture income $32 - $37 share1 Effective tax rate 22% - 24%
Slide 9: Q&A
“@ Atmus QtA
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures Public
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures We use non-GAAP financial information and believe it is useful to investors as it provides additional information to facilitate comparisons of historical operating results, identify trends in our underlying operating results and provide additional insight and transparency
Slide 12: EBITDA and Adjusted EBITDA Reconciliations
Non-GAAP Financial Measures EBITDA and Adjusted EBITDA Reconciliations ($ millions) For the Three Months Ended For the Twelve Months Ended June 30, December 31, 2024 2023 2023 2022 NET INCOME $ 56 $ 46 $ 171 $ 170 Plus: Interest expense 11 4 26 1 Income tax expense 16 15 55 42 Depreciation and amort
Slide 13: EBITDA, Adjusted EPS Reconciliations and Net Debt
Non-GAAP Financial Measures EBITDA and Adjusted EBITDA Reconciliations and Net Debt ($ millions) Trailing Twelve Adjusted EPS Reconciliation Months ($ per share) June 30, 2024 NET INCOME $ 174 For the Three Months Ended Plus: June 30, Interest expense 43 2024 2023 Income tax expense 52 Diluted earni
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 June 30, Months 2024 2023 June 30, 2024 Cash provided by operating activities $ 23 $ 46 $ 115 Less: Capital expenditures $ 12 $ 13 $ 49 Free cash flow $ 11 $
Slide 15: Atmus
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