PHINIA Reports Third Quarter 2024 Results
PHINIA Inc. (PHIN)
Company Research
Source: Business Wire
AUBURN HILLS, Mich.--(BUSINESS WIRE)--PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket solutions, today reported results for the third quarter ended September 30, 2024.Third Quarter Highlights:Net sales of $839 million, a decrease of 6.4% compared with Q3 2023.Lower Fuel Systems (FS) sales in Europe and China partially offset by strong Aftermarket segment sales in Europe led to lower net sales compared to Q3 2023.Excluding the effects of contract manufacturing that ended in the quarter, adjusted sales were $838 million, down 3.7% year-over-year.Operating income of $66 million and operating margin of 7.9%, representing a year-over-year increase of $20 million and 280 basis points (bps), respectively.Primarily driven by lower separation and transaction expenses and lower supplier and inflationary costs partially offset by lower revenues.Adjusted operating income of $87 million and adjusted operating income margin of 10.4%, representing
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PHIN
Earnings
- 10/31/24 - Beat
PHIN
Sec Filings
- 11/20/24 - Form SC
- 11/20/24 - Form SC
- 11/8/24 - Form SC
- PHIN's page on the SEC website