PHINIA Reports Strong Fourth Quarter and Full Year 2024 Results and Plans for 2025 Growth

Auburn Hills, Michigan, February 13, 2025 – Leading premium fuel systems, electrical systems, and aftermarket solutions provider, PHINIA Inc. (NYSE: PHIN), announced its financial results for the fourth quarter and full year ending December 31, 2024. The company reported fourth-quarter net sales of $833 million, a 5.6% decrease compared to Q4 2023. Despite challenges in Fuel Systems sales, the company showcased resilience with strong Aftermarket sales. Operating income stood at $51 million with an operating margin of 6.1%.

Adjusted figures revealed the company’s adaptability with adjusted operating income at $78 million and adjusted operating margin at 9.4%. Key wins in strategic growth markets highlighted new business ventures across various industries, showcasing growth prospects for the company. PHINIA’s net earnings for the quarter were $5 million with adjusted net earnings per diluted share standing at $0.71.

For the full year 2024, PHINIA reported net sales of $3.40 billion, a slight decrease compared to the previous year, with operating income showing a positive trend at $259 million. Adjusted EBITDA for the year was reported as $478 million, reflecting a 14.1% margin. The company announced strong cash generation from operating activities, with increased free cash flow and healthy capital allocation strategies.

Looking ahead to 2025, PHINIA expects net sales in the range of $3.23 billion to $3.43 billion, projecting a mix of decline and growth. The company aims for net earnings of $140 million to $170 million, with adjusted EBITDA in the range of $450 million to $490 million. Adjusted free cash flow for 2025 is projected to be in the range of $160 million to $200 million.

PHINIA’s Board of Directors declared a quarterly dividend increase to $0.27 per common share and authorized a $200 million increase to its share repurchase program, reflecting confidence in the company’s financial position and growth prospects. The company’s management expressed optimism for the year ahead, underlined by its commitment to operational excellence, customer trust, and strategic partnerships.

PHINIA will host a conference call to discuss its 2024 results, introduce the 2025 outlook, and address queries from the investment community. The company remains focused on driving growth, maintaining financial stability, and delivering shareholder value as it progresses into the new fiscal year.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read PHINIA’s 8K filing here.

PHINIA Company Profile

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.