PHINIA (NYSE:PHIN) Issues Quarterly Earnings Results, Misses Estimates By $0.27 EPS

PHINIA (NYSE:PHIN) posted its quarterly earnings results on Tuesday. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.27), Briefing.com reports. The firm had revenue of $868.00 million for the quarter, compared to analysts’ expectations of $889.00 million. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.61 earnings per share. PHINIA updated its FY 2024 guidance to EPS.

PHINIA Stock Up 7.7 %

NYSE PHIN traded up $3.24 during trading hours on Wednesday, hitting $45.10. 533,168 shares of the stock were exchanged, compared to its average volume of 702,989. PHINIA has a 12-month low of $23.46 and a 12-month high of $47.51. The stock has a 50-day moving average of $42.46 and a 200 day moving average of $38.29. The company has a current ratio of 1.71, a quick ratio of 1.27 and a debt-to-equity ratio of 0.38.

PHINIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 24th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.00 annualized dividend and a yield of 2.22%.

Insider Buying and Selling

In other PHINIA news, VP Robert Boyle sold 1,828 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.77, for a total transaction of $80,011.56. Following the transaction, the vice president now directly owns 36,337 shares in the company, valued at $1,590,470.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by corporate insiders.

About PHINIA

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.