secwatch.observer — SEC 8-K summary
======================================

Issuer:     PHINIA INC. (PHIN)
CIK:        0001968915
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001968915-24-000012
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1968915/000196891524000012/0001968915-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1968915/000196891524000012/phin-20240425.htm
  HTML page:      https://secwatch.observer/filing/0001968915-24-000012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer