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 (PHIN) drives innovation in advanced propulsion systems for commercial and light vehicles worldwide. This news hub provides investors and industry professionals with essential updates on the company's emission-reduction technologies, hybrid solutions, and strategic partnerships.
Access timely reports on product innovations, earnings announcements, and market expansions that shape PHIN's position in sustainable mobility. Our curated collection includes official press releases about fuel injection systems, hydrogen technologies, and aftermarket service developments critical to industrial and automotive applications.
Monitor PHIN's progress in combustion optimization through updates on North American operations, European market initiatives, and Asia-Pacific collaborations. Key coverage areas include diesel system advancements, alternative fuel integrations, and software-enhanced propulsion solutions that meet evolving environmental standards.
Bookmark this page for structured access to PHIN's technical milestones and business developments. Return regularly for insights into how the company's Fuel Systems and Aftermarket segments address global demands for efficient transportation technologies.
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.
PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket products, declared a quarterly cash dividend of $0.25 per common share. The dividend is payable on June 14, 2024, to shareholders of record as of May 24, 2024.
