Loading...
•
Jun 30, 2024
Phinia Q2 2024 Earnings Report
PHINIA's Q2 2024 financial performance reflected solid aftermarket segment performance offset by weaker commercial vehicle sales in Europe and lower light vehicle sales in China.
Key Takeaways
PHINIA reported net sales of $868 million, a decrease of 2.1% compared to Q2 2023. The company's operating income was $71 million with a margin of 8.2%. Adjusted free cash flow was $108 million for the quarter.
Net sales decreased by 2.1% to $868 million compared to Q2 2023.
Operating income increased to $71 million with an operating margin of 8.2%.
Adjusted EBITDA was $117 million with an adjusted EBITDA margin of 13.6%.
Adjusted free cash flow was $108 million.
Revenue by Segment
Forward Guidance
The Company expects its FY 2024 outlook for net sales and adjusted sales to be at the low end of the previously provided ranges, with net sales of $3.42 billion to $3.58 billion, adjusted sales of $3.40 billion to $3.55 billion, adjusted EBITDA of $470 million to $510 million, and adjusted EBITDA margin of 13.8% to 14.4%. PHINIA continues to expect to generate $160 million to $200 million in adjusted free cash flow.
Positive Outlook
- Net sales are expected to be $3.42 billion to $3.58 billion.
- Adjusted sales are expected to be $3.40 billion to $3.55 billion.
- Adjusted EBITDA is expected to be $470 million to $510 million.
- Adjusted EBITDA margin is expected to be 13.8% to 14.4%.
- Adjusted free cash flow is expected to be $160 million to $200 million.
Challenges Ahead
- Adjusted tax rate expectation is revised to be in the 33% to 37% range.
- Net earnings are expected to be $100 million to $140 million.
- Net margin is expected to be 2.9% to 3.9%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...