PHINIA reports Q4 2023 net sales $882M (+3.6% YoY), diluted EPS $0.70; introduces 2024 guidance

PHINIA INC.

2023-FY EPS reported $2.17 revenue$882,000,000

Q4 GAAP net sales $882M (+3.6% YoY); adjusted operating income $89M (10.4% margin).
Full year 2023 net sales $3.5B (+4.5%); GAAP diluted EPS $2.17; adjusted diluted EPS $4.13.
2024 full year guidance: net sales $3.42B–$3.57B; adjusted EBITDA $470M–$510M.
Q4 adjusted free cash flow $55M; repurchased $15M of shares in Q4, $24M full year.
Ended Q4 with $365M cash; net leverage below 1x EBITDA.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PHINIA INC. reported full year ended December 31, 2023 results: revenue U.S. GAAP net sales of $3,500 million, net income Net earnings of $102 million, EPS U.S. GAAP net earnings of $2.17 per diluted share. Guidance initiated.

Period: full year ended December 31, 2023
Revenue: U.S. GAAP net sales of $3,500 million
Net income: Net earnings of $102 million
EPS: U.S. GAAP net earnings of $2.17 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Full Year 2023 Highlights: • U.S. GAAP net sales of $3,500 million, an increase of 4.5% compared with 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PHINIA INC. reported fourth quarter ended December 31, 2023 results: revenue U.S. GAAP net sales of $882 million, net income Net earnings of $33 million, EPS U.S. GAAP net earnings of $0.70 per diluted share. Guidance initiated.

Period: fourth quarter ended December 31, 2023
Revenue: U.S. GAAP net sales of $882 million
Net income: Net earnings of $33 million
EPS: U.S. GAAP net earnings of $0.70 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket 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.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PHINIA INC. updated its the year ended December 31, 2023 guidance (initiated).

Period: the year ended December 31, 2023
Guidance: initiated
Result: reported results

Exact text from the filing

On February 21, 2024 , PHINIA Inc. (the “Company”) issued a press release announcing its financial results for the year ended December 31, 2023.

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Source: SEC EDGAR

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