Split-off gain masks some cracks in Cummins' financial armor [Yahoo! Finance]
Atmus Filtration Technologies Inc. (ATMU)
Company Research
Source: Yahoo! Finance
The Tier 1 supplier of truck engines and power systems for data centers and other businesses reported Q1 revenue of $8.4 billion. That was down 1% from a year ago. The number missed analyst estimates by $50 million. Sales in North America were flat. International revenues fell 1% due to lower demand in China and Europe. Net income of $2 billion, or $14.03 per diluted share, included a net gain of $1.3 billion, or $9.08, from separating Atmus Filtration Technologies Inc. That compared to $790 million, or $5.55, in Q1 2023. Atmus, which makes engine filters and specialty materials, was no longer seen as a strategic fit within Cummins. In standing up Atmus, Cummins positioned itself for a nontaxable share swap of equity. The former division is based in Nashville, Tennessee. Cummins is heavily investing in future powertrain technologies. That includes fully integrated electric systems, partly made possible by its acquisition of Meritor Inc. in August 2022. It continues to see highe
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ATMU
News
- Atmus Filtration Technologies Inc. (NYSE: ATMU) had its price target lowered by analysts at Wells Fargo & Company from $37.00 to $36.00. They now have an "overweight" rating on the stock.MarketBeat
- Atmus Filtration Technologies Inc. (NYSE:ATMU) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Atmus Filtration Technologies (ATMU) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Atmus Filtration Technologies Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Atmus Filtration Technologies Reports First Quarter 2024 ResultsBusiness Wire
ATMU
Earnings
- 5/3/24 - Beat
ATMU
Sec Filings
- 5/17/24 - Form 8-K
- 5/16/24 - Form 4
- 5/16/24 - Form 4
- ATMU's page on the SEC website