NYSE$PHIN
Phinia Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Phinia reported solid Q4 and full year 2023 results and introduced 2024 outlook.
Phinia Inc. reported a 3.6% increase in U.S. GAAP net sales for Q4 2023, reaching $882 million. Operating income was $81 million, with adjusted operating income at $89 million. The company's net earnings were $0.70 per diluted share, with an adjusted net earnings of $0.71 per diluted share. The company expects net sales of $3.42 billion to $3.57 billion and adjusted free cash flow of $160 to $200 million for 2024.
- U.S. GAAP net sales increased by 3.6% to $882 million compared to Q4 2022.
- Operating income was $81 million and adjusted operating income was $89 million.
- U.S. GAAP net earnings were $0.70 per diluted share, with adjusted net earnings of $0.71 per diluted share.
- Adjusted free cash flow was $55 million.
Headline financials
Revenue & EPS history
Phinia · Revenue · Quarterly
$882M
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 expects strong earnings and cash generation in 2024 as it continues to drive operational efficiencies, exit agreements with its former parent, and grow its Aftermarket sales. Net sales of $3.42 billion to $3.57 billion, adjusted EBITDA of $470 million to $510 million, and adjusted free cash flow of $160 to $200 million are expected.
Tailwinds
- Drive operational efficiencies
- Exit agreements with former parent
- Grow Aftermarket sales
- Strong earnings expected
- Strong cash generation expected
Headwinds
- Industry-wide CV volumes in 2024 are expected to decline mid to high single digits percent in North America and Europe
- Global LV volumes are expected to be down slightly
- Engine production declining mid-single digits
- Adjusted tax rate is expected to be 28-32%.
- On the OE side, industry-wide CV volumes in 2024 are expected to decline mid to high single digits percent in North America and Europe
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 Q4 2023
+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% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro