Atmus Filtration Technologies Inc. (NYSE: ATMU)

Atmus Filtration Technologies Inc. is a global leader in the design and manufacture of advanced filtration products, primarily under the Fleetguard brand. The company specializes in filtration solutions for on-highway commercial vehicles and off-highway equipment used in agriculture, construction, mining, and power generation. Atmus's products are designed to enable lower emissions and provide superior asset protection, catering to a diverse range of industries that rely on heavy-duty machinery.

Atmus generates revenue through the sale of its filtration products, which are installed as components for new vehicles and equipment (first-fit sales) and as replacement parts for repair and maintenance (aftermarket sales). Approximately 14% of the company's net sales in 2025 were generated through first-fit sales to original equipment manufacturers (OEMs), while the remaining 86% were generated in the aftermarket. The company's primary products include fuel filters, lube filters, air filters, crankcase ventilation systems, hydraulic filters, and coolants and other chemicals. These products are sold to a broad customer base, including leading OEMs and a global network of dealers, independent distributors, and retail outlets.

• Fleetguard Brand: Atmus's flagship brand, Fleetguard, offers a comprehensive suite of filtration products designed for nearly all makes of vehicles and equipment in its core markets. The brand is strongly associated with reliability and strong performance, supported by a competitive warranty that enhances customer confidence. The Fleetguard brand is a key competitive advantage, providing filters for a wide range of applications and markets, which further enhances Atmus's availability, visibility, and brand recognition
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Atmus operates in a competitive industry with key global participants including MANN+HUMMEL, Donaldson, Parker, and MAHLE. The company differentiates itself through its technology leadership, deep industry knowledge, and the iconic Fleetguard brand. Atmus's competitive strengths include a culture of innovation, a broad IP portfolio with approximately 1,200 worldwide active or pending patents and patent applications, and over 650 worldwide trademark registrations and applications. The company's technical team develops a range of filtration technologies, including filtration media, filter element formation, filtration systems integration, and service-related solutions such as remote digital diagnostic and prognostic platforms and analytics. Atmus's global presence provides a diverse and stable customer base across truck, bus, agriculture, construction, mining, and power generation vehicles and equipment markets.

Atmus serves a broad customer base, including leading OEMs such as Cummins, Daimler, Deere, Doosan, Foton, Komatsu, Paccar/DAF, the Traton Group, Stellantis, and Volvo. These customers accounted for approximately 70% of Atmus's net sales in 2025. Cummins is Atmus's largest customer, accounting for approximately 18.8% of the company's net sales in 2025. Atmus maintains strong relationships with these OEMs, supported by written agreements that specify certain purchase parameters but do not obligate specific volumes. The company's close relationships with OEMs and strong first-fit installed base position Atmus well with the OEM dealer network and large fleet customers.