PHINIA Reports Solid Q4 and Full Year 2023 Results, Introduces 2024 Outlook [Yahoo! Finance]
PHINIA Inc. (PHIN)
Company Research
Source: Yahoo! Finance
products, today reported its fourth quarter and full year ended December 31, 2023 results. Fourth Quarter Highlights: U.S. GAAP net sales of $882 million, an increase of 3.6% compared with Q4 2022. Excluding $24 million of contract manufacturing sales, sales were up slightly compared to Q4 2022. Positive customer pricing, positive FX and growth in light vehicle original equipment (OE) sales were partially offset by lower commercial vehicle (CV) OE sales in China. Operating income of $81 million and adjusted operating income of $89 million, resulting in an operating margin of 9.2% and an adjusted operating margin of 10.4%, a year-over-year decrease of 100 basis points (bps) and 80 bps, respectively. Q4 2023 segment adjusted operating margins were healthy at 12.6%, 90 bps ahead of the average segment adjusted operating margin for the first 9 months of the year. Operating margins declined from the prior year primarily from lower CV volumes in China and higher non-commodity infl
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PHIN
News
- PHINIA Declares Quarterly Dividend of $0.25 per Common ShareBusiness Wire
- PHINIA Reports Strong First Quarter 2024 Results and Reaffirms 2024 Outlook [Yahoo! Finance]Yahoo! Finance
- PHINIA Reports Strong First Quarter 2024 Results and Reaffirms 2024 OutlookBusiness Wire
- PHINIA Inc. to Report Q1 2024 EarningsBusiness Wire
- PHINIA announces pricing of private offering of $525M of senior secured notes due 2029 [Seeking Alpha]Seeking Alpha
PHIN
Earnings
- 4/25/24 - Beat
PHIN
Sec Filings
- 5/9/24 - Form 144
- 4/25/24 - Form 10-Q
- 4/25/24 - Form 8-K
- PHIN's page on the SEC website