PHINIA Q1 sales up 3.4% to $863M; adjusted EPS $1.08, reaffirms FY2024 outlook

PHINIA INC.

2024-Q1 EPS reported $0.62 revenue$863,000,000

Net sales $863M (+3.4% YoY); adjusted net earnings $1.08 per diluted share vs GAAP $0.62.
Adjusted EBITDA $131M (15.5% margin); adjusted operating income $97M (11.5% margin).
Reaffirmed FY2024: sales $3.42-3.58B, adjusted EBITDA $470-510M, free cash flow $160-200M.
Issued $525M senior secured notes; repaid Term Loan B and revolver balance in early April.
Returned $35M to shareholders: $12M dividends and $23M share repurchases in Q1.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PHINIA INC. reported the first quarter ended March 31, 2024 results: revenue $863 million, net income $29 million, EPS $0.62 per diluted share. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $863 million
Net income: $29 million
EPS: $0.62 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

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

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Source: SEC EDGAR

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