PHIN
PHINIA Inc.58.41
+0.63+1.09%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Guidance headwinds clarified; aerospace timelines detailed.
Q&A drilled into 2026 guidance, revealing breakeven tariffs and FX as dilutive headwinds curbing margin expansion to a healthy 20% incremental despite mid-single-digit sales growth. Aerospace details emerged: third contract with same customer ramps July 2027, with momentum elsewhere; industrial growth spotlights marine, gensets, ag/construction. Capital allocation stays buyback-heavy unless valuations favor M&A, liking current portfolio. No competitor ICE pivot—PHINIA grabs GDI share, outgrowing flat Americas light vehicles by 400-500bps. Q&A reaffirms script with clarifying color. Investor Day teases 2030 shift to CV/off-highway. Details matter for thesis durability.
Key Stats
Market Cap
2.27BP/E (TTM)
26.19Basic EPS (TTM)
2.23Dividend Yield
0.02%Recent Filings
10-K
FY2025 results
PHINIA's FY2025 net sales rose 2.4% y/y to $3.483B, with Fuel Systems up to $2.320B (66.6%) and Aftermarket to $1.306B (37.5%), fueled by FX gains and the SEM acquisition while offsetting softer volumes. Gross margins held steady at 21.9% amid tariff pressures and employee costs, yielding operating income of $254M (7.3%) and diluted EPS of $3.24, up from $1.76. Fuel Systems AOI margin expanded to 11.2% on R&D savings, while Aftermarket's dipped to 16.2% from tariff recoveries. Q4 saw OES shift to Fuel Systems for efficiency; repurchased $436M in stock, leaving $164M authorized, with $359M cash and $500M revolver availability. Expects 2026 sales growth via efficiencies offsetting OE weakness. Supply chain disruptions threaten quarterly momentum.
8-K
PHINIA beats Q4 earnings
PHINIA reported Q4 2025 net sales of $889 million, up 6.7% year-over-year, with net earnings surging to $45 million from $5 million. Full-year sales hit $3.48 billion, up 2.4%, while returning $242 million to shareholders via repurchases and dividends. Guidance calls for 2026 sales of $3.52-$3.72 billion and adjusted EBITDA of $485-$525 million. New wins bolster growth markets.
8-K
Auditor switch to Deloitte
PHINIA Inc. switched auditors, dismissing PricewaterhouseCoopers LLP effective after completing 2025 financials and engaging Deloitte & Touche LLP for 2026. The move followed a competitive process, with no disagreements or audit issues noted—PwC's past reports were clean. A prior material weakness in internal controls was remediated in 2023. Smooth transition ahead.
8-K
Q3 sales up 8.2%, SEM acquired
PHINIA reported Q3 net sales of $908 million, up 8.2% year-over-year, with adjusted EBITDA rising to $133 million at 14.6% margin despite a $39 million separation settlement hit. They closed the $47 million SEM acquisition, bolstering alternative fuels tech. Updated 2025 guidance projects $3.39-3.45 billion sales, $465-480 million adjusted EBITDA. Integration risks loom.
10-Q
Q3 FY2025 results
PHINIA posted Q3 sales of $908M, up 8% y/y from $839M yet flat q/q on volume/mix, with gross profit climbing to $200M (22.0% margin) from $187M. Operating income slid to $34M from $66M, pressured by $57M other operating expenses (separation-related costs), while diluted EPS fell to $0.33 from $0.70 amid share buybacks shrinking weighted shares to 39.6M from 44.1M. Fuel Systems drove growth at $549M (+13% y/y), bolstered by August's SEM acquisition for $15M cash ($4M goodwill, $27M intangibles over 6-12 years). Cash dipped to $349M with $216M operating cash flow (FCF $121M derived); $992M debt and $499M revolver availability intact. Buybacks aggressive. Pricing pressures from OEMs loom.
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