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Mar 31, 2024
Phinia Q1 2024 Earnings Report
Reported strong first quarter results and reaffirmed 2024 outlook.
Key Takeaways
PHINIA reported a 3.4% increase in net sales to $863 million, with operating income at $71 million and adjusted operating income at $97 million. Adjusted net earnings per diluted share were $1.08. The company reaffirmed its full year 2024 outlook.
Net sales increased by 3.4% to $863 million compared to Q1 2023.
Operating income reached $71 million, and adjusted operating income was $97 million, including benefits from a supplier settlement and inflationary pass-through.
Adjusted net earnings were $1.08 per diluted share.
The company reaffirms its FY 2024 outlook for net sales of $3.42 billion to $3.58 billion.
Revenue by Segment
Forward Guidance
The Company reaffirms its FY 2024 outlook for net sales of $3.42 billion to $3.58 billion, adjusted sales of $3.40 billion to $3.55 billion, net earnings and margin of $125 million to $160 million and 3.7% to 4.5%, respectively, adjusted EBITDA of $470 million to $510 million, and adjusted EBITDA margin of 13.8% to 14.4%. PHINIA expects to generate $160 million to $200 million in adjusted free cash flow. Adjusted tax rate is expected to be in the range of 28% to 32%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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