PHINIA Reaffirms 2024 Outlook For Net Sales Of $3.42B-$3.58B, Adjusted Sales Of $3.40B-$3.55B Vs. $3.48B Consensus; Expects To Generate $160M-$200M In Adjusted Free Cash Flow
Portfolio Pulse from Benzinga Newsdesk
PHINIA has reaffirmed its FY 2024 financial outlook, projecting net sales between $3.42B-$3.58B and adjusted sales of $3.40B-$3.55B, aligning with a $3.48B consensus. The company anticipates net earnings of $125M-$160M, with margins of 3.7%-4.5%, and adjusted EBITDA between $470M-$510M. PHINIA expects an adjusted free cash flow of $160M-$200M and an adjusted tax rate of 28%-32%.
April 25, 2024 | 11:45 am
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PHINIA reaffirms its 2024 outlook with net sales of $3.42B-$3.58B and adjusted free cash flow of $160M-$200M, indicating strong financial health and operational stability.
Reaffirming its financial outlook, especially when it aligns with consensus estimates, suggests PHINIA is confident in its operational stability and growth prospects. This transparency and stability are likely to positively influence investor sentiment and potentially the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100