NYSE$PHIN
Phinia Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported third quarter results with adjusted EBITDA margins expanded by 90 basis points and generated $60 million in adjusted free cash flow.
PHINIA Inc. reported a decrease in net sales but an increase in operating income, net earnings, and adjusted EBITDA for the third quarter of 2024. The company is revising its full-year 2024 guidance due to softening end vehicle markets.
- Net sales were $839 million, a decrease of 6.4% compared with Q3 2023.
- Operating income of $66 million, a year-over-year increase of $20 million.
- Net earnings of $31 million, representing a year-over-year increase of $32 million.
- Adjusted EBITDA of $120 million with adjusted EBITDA margin of 14.3%, representing a year-over-year increase of $3 million.
Headline financials
Revenue & EPS history
Phinia · Revenue · Quarterly
$839M
Revenue by segment
Phinia · $896M total across 2 segments · Q3 2023
- Fuel Systems$561M+5.1%62.6%
- Aftermarket$335M+3.1%37.4%
Forward guidance
The Company is revising its full-year 2024 guidance and now expects net sales of $3.36 billion to $3.41 billion and adjusted sales of $3.34 billion to $3.39 billion. The refined net earnings and adjusted EBITDA are projected at $105 million to $125 million and $470 million to $490 million, respectively, resulting in earnings margin of 3.1% and 3.7% and adjusted EBITDA margin of 14.1% to 14.5%.
Tailwinds
- Net sales of $3.36 billion to $3.41 billion
- Adjusted sales of $3.34 billion to $3.39 billion.
- Net earnings of $105 million to $125 million
- Adjusted EBITDA of $470 million to $490 million
- Adjusted free cash flow of $160 million to $200 million
Headwinds
- Softening of the end vehicle markets
- Adjusted tax rate is expected to be in the range of 33% to 37%.
- Lower Fuel Systems (FS) sales in Europe and China
- Net cash generated by operating activities of $95 million, representing a year-over-year decrease of $60 million
- Net sales decreased by 6.4% compared to Q3 2023
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q3 2024
+0.0%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+5.0%
Avg return
30 days after
50%
9 / 18 earnings
Positive
+10.6%
Q4 2023
Best reaction
-7.3%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.1% | +5.5% | +6.6% | |
| Q4 2025 | -4.2% | -2.9% | -18.9% | |
| Q3 2025 | -2.2% | -5.5% | -1.3% | |
| Q2 2025 | -0.3% | -0.8% | +3.8% | |
| Q1 2025 | -7.3% | -8.8% | -2.7% | |
| Q4 2024 | +0.4% | +8.3% | -12.5% | |
| Q3 2024 | +3.1% | +4.9% | +26.0% | |
| Q2 2024 | +4.5% | -0.9% | +11.9% | |
| Q1 2024 | +0.3% | +0.7% | +17.1% | |
| Q1 2023 | +0.3% | +0.7% | +17.1% | |
| Q4 2021 | +0.2% | +2.1% | +12.5% | |
| Q1 2022 | +0.2% | +2.1% | +12.5% | |
| Q4 2023 | +10.6% | +10.5% | +20.2% | |
| Q3 2022 | -3.0% | -9.1% | -1.5% | |
| Q3 2023 | -3.0% | -9.1% | -1.5% | |
| Q2 2022 | -0.3% | +4.0% | -0.0% | |
| Q2 2023 | -0.3% | +4.0% | -0.0% | |
| Q4 2022 | -0.3% | +4.0% | -0.0% |
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