PHINIA Reports Strong First Quarter 2024 Results and Reaffirms 2024 Outlook
PHINIA Inc. (PHIN)
Company Research
Source: Business Wire
AUBURN HILLS, Mich.--(BUSINESS WIRE)--PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket solutions, today reported results for the first quarter ended March 31, 2024.First Quarter Highlights:U.S. GAAP net sales of $863 million, an increase of 3.4% compared with Q1 2023.Excluding $17 million of contract manufacturing sales, sales were up slightly compared to Q1 2023. Favorable pricing and currency were partially offset by lower commercial vehicle sales in Europe.Operating income of $71 million and adjusted operating income of $97 million includes the benefit of a supplier settlement and inflationary pass-through. Operating margin of 8.2% and an adjusted operating margin of 11.5%, represents a year-over-year increase of 130 basis points (bps) and 170 bps, respectively.Q1 2024 segment adjusted operating margin of 13.6% also includes the benefits noted above.Corporate costs of $18 million were in line with expectations.U.S. GAAP net earning
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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 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
- PHINIA Announces Pricing of Private Offering of $525,000,000 of Senior Secured Notes due 2029Business Wire
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