secwatch.observer — SEC 8-K summary
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Issuer:     PHINIA INC. (PHIN)
CIK:        0001968915
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0001968915-24-000035
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PHINIA Q3 net sales down 6.4%; adjusted EBITDA margin up 90 bps; lowers FY2024 sales guidance
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- Q3 net sales $839M (-6.4% YoY); adjusted sales ex-contract mfg $838M (-3.7% YoY). Net income $31M vs $1M loss in Q3 2023.
- Adj. EBITDA $120M (14.3% margin, +90bps YoY); adj. EPS $1.17. Operating income $66M (7.9% margin, +280bps YoY).
- FY2024 guidance lowered: net sales $3.36-3.41B; adj. EBITDA $470-490M (14.1-14.5% margin); adj. FCF $160-200M.
- Board increased share repurchase authorization by $250M to $400M; $75M repurchased in Q3, $188M remaining.
- Issued $450M of 6.625% senior notes due 2032; proceeds used to repay Term Loan A facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1968915/000196891524000035/0001968915-24-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1968915/000196891524000035/phin-20241031.htm
  HTML page:      https://secwatch.observer/filing/0001968915-24-000035

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