PHINIA Q2 net earnings fall to $14 million; net sales down 2.1% to $868 million
PHINIA reported second quarter 2024 results for the period ended June 30, 2024, with net sales of $868 million, down 2.1% from a year earlier, and net earnings of $14 million, down from $35 million. The company said full-year sales will be at the low end of its prior ranges and gave full-year 2024 net earnings guidance of $100 million to $140 million after revising its adjusted tax rate expectation, which means lower sales and profit for shareholders in the period.
Key points
- Q2 net sales of $868 million, down 2.1% from Q2 2023, with lower commercial vehicle sales in Europe and light vehicle sales in China
- Q2 diluted EPS of $0.31 versus $0.74 a year earlier; adjusted diluted EPS of $0.88 versus $1.61
- Q2 net earnings were reduced by a $15 million loss on the extinguishment of debt; adjusted EBITDA was $117 million versus $130 million
- Full-year 2024 net sales expected at the low end of prior ranges; net earnings guidance of $100 million to $140 million
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 30, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.