Stock Analysis
- United States
- /
- Auto Components
- /
- NYSE:PHIN
PHINIA Second Quarter 2024 Earnings: Misses Expectations
PHINIA (NYSE:PHIN) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$868.0m (down 2.1% from 2Q 2023).
- Net income: US$14.0m (down 60% from 2Q 2023).
- Profit margin: 1.6% (down from 3.9% in 2Q 2023).
- EPS: US$0.31 (down from US$0.74 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
PHINIA Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 73%.
Looking ahead, revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in the US.
Performance of the American Auto Components industry.
The company's shares are up 1.6% from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 3 warning signs for PHINIA you should know about.
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About NYSE:PHIN
PHINIA
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.