Phinia Q3 Adj $1.17 Beats $0.85 Estimate, Sales $839.00M Miss $859.64M Estimate
Portfolio Pulse from Benzinga Newsdesk
Phinia reported Q3 earnings of $1.17 per share, surpassing the $0.85 estimate, marking a 69.57% increase from last year. However, sales of $839M missed the $859.64M estimate, showing a 6.36% decline from the previous year.
October 31, 2024 | 11:36 am
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Phinia's Q3 earnings exceeded expectations with $1.17 per share, a significant increase from last year, but sales fell short of estimates, declining from the previous year.
Phinia's earnings per share significantly exceeded analyst expectations, which is a positive indicator for the stock. However, the miss on sales estimates and the year-over-year decline in sales could offset the positive earnings surprise, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100