Welcome to our dedicated page for PHINIA news (Ticker: PHIN), a resource for investors and traders seeking the latest updates and insights on PHINIA stock.
PHINIA Inc. (NYSE: PHIN) is a global leader in the development, design, and manufacture of integrated components and systems that enhance performance, improve efficiency, and reduce emissions in combustion and hybrid propulsion systems. The company's diverse product portfolio serves commercial vehicles, industrial applications, and light vehicles. PHINIA is a trusted supplier to major original equipment manufacturers (OEMs) worldwide, offering a broad range of original equipment service (OES) solutions and aftermarket products.
PHINIA's extensive original equipment portfolio includes advanced fuel injection systems, fuel delivery modules, canisters, starters, alternators, sensors, electronic control modules, and associated software. These products are crucial in ensuring optimal performance and reducing environmental impact. The company is committed to innovation, continuously working on projects that advance the efficiency and sustainability of vehicle and industrial systems.
Recently, PHINIA successfully spun off from BorgWarner Inc., positioning itself as a standalone, publicly traded entity. This strategic move allows both companies to focus on their core strengths and pursue their respective goals more effectively. The spin-off is part of BorgWarner's 'Charging Forward' strategy, which aims to accelerate the transition to electrification and enhance the value of its foundational portfolio.
PHINIA's commitment to excellence is evident in its partnerships with leading automotive and industrial brands, ensuring the delivery of high-quality, reliable components and systems. Financially, the company is well-positioned, with a strong foundation built on years of industry experience and innovation.
For investors and stakeholders, PHINIA represents a solid investment opportunity with a clear focus on sustainability and technological advancement. As the automotive and industrial sectors continue to evolve, PHINIA is poised to play a significant role in shaping the future of propulsion systems.
PHINIA Inc. (NYSE: PHIN) has successfully priced its private offering of $450 million in unsecured 6.625% senior notes due 2032. This represents an increase from the previously announced $400 million offering. The notes, priced at 100.00% plus accrued interest, are set to close around September 17, 2024. They will be guaranteed by PHINIA's subsidiaries that guarantee its credit facilities and 6.75% senior secured notes due 2029.
The company plans to use the net proceeds to repay all outstanding borrowings under its term loan A facility, cover offering-related fees and expenses, and for general corporate purposes. The notes are being offered only to qualified institutional buyers and certain non-U.S. persons, in compliance with Securities Act exemptions.
PHINIA Inc. (NYSE: PHIN) has announced plans for a private offering of $400 million in unsecured senior notes due 2032, subject to market conditions. The notes will be guaranteed by PHINIA's subsidiaries that guarantee its credit facilities and 6.75% senior secured notes due 2029. The net proceeds will be used to repay outstanding borrowings under the company's term loan A facility, cover offering-related expenses, and for general corporate purposes. The notes are being offered only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S, as they are not registered under the Securities Act or state securities laws.
PHINIA Inc. (NYSE: PHIN), a global market leader in premium solutions and components, will participate in Morgan Stanley's 12th Annual Laguna Conference on September 12, 2024. The event, held in Dana Point, CA, will feature a presentation and Q&A session at 2:00 PM Pacific Time.
PHINIA's President and CEO Brady Ericson and CFO Chris Gropp will engage in a fireside chat with Morgan Stanley's auto analysts, Adam Jonas and William Tackett. The presentation will be accessible via webcast on PHINIA's Investor Relations website.
With over 100 years of manufacturing expertise, PHINIA boasts a strong brand portfolio including DELPHI®, DELCO REMY®, and HARTRIDGETM. Investors and interested parties can access the audio webcast through the provided link.
PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket solutions, has released its inaugural 2023 Sustainability Report. The report highlights PHINIA's contributions to powering a cleaner tomorrow and sets a benchmark for future progress across environmental, social, and governance initiatives.
Key highlights include:
- 78% of R&D spend invested in fuel efficiency and alternative fuel technologies
- 4.8% annual energy consumption reduction across all sites
- 9.9% annual reduction in carbon emissions
- Implementation of a Design for Environment process
- Launch of diversity initiatives, including Women in Science and Engineering (WiSE)
- Establishment of an Equity, Diversity, and Inclusion (EDI) Council
The report emphasizes PHINIA's commitment to sustainability, responsible business practices, and long-term value creation for stakeholders.
PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket products, has announced two significant decisions by its Board of Directors. Firstly, a quarterly cash dividend of $0.25 per common share has been declared, payable on September 13, 2024, to shareholders of record as of August 23, 2024. Secondly, the Board has authorized a $250 million increase to its share repurchase program, bringing the total available for repurchases to approximately $263 million.
The expanded share repurchase program allows PHINIA to buy back its common shares through various methods, including open market transactions and privately negotiated deals. The program has no expiration date and can be adjusted as needed, providing flexibility in the company's capital allocation strategy.
PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket parts, is set to present at J.P. Morgan's Auto Conference on August 7, 2024, at 11:05 AM EDT in New York City. The company's President and CEO Brady Ericson and CFO Chris Gropp will participate in a fireside chat with J.P. Morgan's Auto analyst, Ryan Brinkman.
The event will be webcast and accessible on PHINIA's Investor Relations website. Presentation materials will be available in the 'Investors' section of PHINIA's website. Interested parties can access the audio webcast through the provided link, offering an opportunity for investors and analysts to gain insights into PHINIA's operations and future outlook.
PHINIA Inc. (NYSE: PHIN) reported Q2 2024 results with net sales of $868 million, down 2.1% year-over-year. The company saw operating income of $71 million and an operating margin of 8.2%, up $15 million and 190 basis points respectively. Adjusted EBITDA was $117 million with a 13.6% margin. PHINIA generated strong free cash flow of $108 million and repurchased $90 million of outstanding shares.
The company expects FY 2024 net sales to be at the low end of $3.42-$3.58 billion, with adjusted EBITDA of $470-$510 million. PHINIA continues to project $160-$200 million in adjusted free cash flow for the year. The company revised its adjusted tax rate expectation to 33-37% and now anticipates net earnings of $100-$140 million.
PHINIA (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket parts, has been added to the US small-cap Russell 2000 Index. This inclusion comes as part of the annual reconstitution of the Russell Indexes, which aims to reflect the current state of the US equity market and its segments. The addition will take effect from the market open on July 1. The Russell 2000 Index, managed by FTSE Russell, is a key benchmark used by investment managers and institutional investors, with approximately $10.5 trillion in assets benchmarked against Russell US indexes as of December 2023. The reconstitution process ensures that these benchmarks accurately represent market segments and remain unbiased in size and style.
PHINIA (NYSE: PHIN), a leader in premium fuel and electrical systems, has announced the election of Meggan M. Walsh to its Board of Directors, effective July 1, 2024. Ms. Walsh, 60, brings 35 years of investor leadership experience, most recently serving as a Senior Portfolio Manager at Invesco Her tenure at Invesco saw significant asset growth and revenue increases due to her strategic investments and capital allocation skills. Ms. Walsh's expertise includes financial modeling, merger and acquisition analysis, and assessing corporate actions. Rohan Weerasinghe, PHINIA’s Board Chair, highlighted her deep understanding of investor expectations and risk management.
PHINIA (NYSE: PHIN), a prominent player in premium fuel systems, electrical systems, and aftermarket parts, is set to release its Q2 2024 earnings report on Tuesday, July 30, 2024.
The earnings press release, presentation, and additional materials will be accessible on the company's Investor Relations website. PHINIA will also host a webcast for investors to review the results and participate in a Q&A session at 8:30 AM ET on the same day. The webcast can be accessed through the 'Events & Presentations' section of PHINIA's website, with a replay available after the event.
Detailed teleconferencing information and access credentials for the webcast and replay have been provided for participants from various countries, including the USA, Canada, France, Germany, Hong Kong, India, Japan, New Zealand, Singapore, and the United Kingdom.
FAQ
What is the current stock price of PHINIA (PHIN)?
What is the market cap of PHINIA (PHIN)?
What does PHINIA Inc. specialize in?
Who are PHINIA's primary customers?
What products does PHINIA offer?
Has PHINIA recently achieved any significant milestones?
How does PHINIA contribute to sustainability?
What is PHINIA's relationship with BorgWarner Inc.?
What is the significance of PHINIA's original equipment service (OES) solutions?
What markets does PHINIA serve?
What differentiates PHINIA from its competitors?
Where can I find more information about PHINIA's financial performance?
