10-Q · April 30, 2026
PHINIA reported Q1 2026 net sales of $878 million, a 10% increase year-over-year, but EPS of $0.96 fell short of estimates. The Fuel Systems segment grew, while margins showed slight compression, and cash from…
Earnings analysis · 10-Q
PHIN earnings analysis
Filed October 29, 2026 · Our reading of the company's report
The latest report
PHINIA reported $912 million of third-quarter revenue and $1.80 of diluted EPS; revenue increased 0.4% year over year but fell 3.0% sequentially, while EPS improved materially against both comparison periods. Management…
Read full summary
PHINIA reported $912 million of third-quarter revenue and $1.80 of diluted EPS; revenue increased 0.4% year over year but fell 3.0% sequentially, while EPS improved materially against both comparison periods. Management raised full-year 2026 sales, net earnings, adjusted EBITDA, and adjusted free cash flow outlooks, supported partly by the stoba Group acquisition. The filing states that there were no material changes to previously disclosed risk factors, although currency movements, ERP implementation, and acquisition integration remain areas to monitor.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.8
- Segment
- Aftermarket: grew, but segment revenue was not disclosed in the provided filing text.
- Segment
- Power Systems: declined, but segment revenue was not disclosed in the provided filing text.
What stood out
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Revenue grew modestly year over year
Third-quarter revenue was $912 million, up $4 million, or 0.4%, from $908 million in the prior-year quarter, although it declined $28 million, or 3.0%, from $940 million in the immediately preceding quarter.
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EPS increased sharply
Diluted EPS was $1.80, compared with $0.33 in the prior-year quarter and $1.05 in the immediately preceding quarter, representing increases of $1.47 and $0.75, respectively.
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Full-year sales outlook raised
Management raised full-year 2026 net sales guidance to $3.625 billion-$3.675 billion from $3.565 billion-$3.665 billion, increasing the midpoint by $35 million.
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Profit and cash-flow outlook raised
Adjusted EBITDA guidance increased to $500 million-$520 million from $485 million-$515 million, while adjusted free cash flow guidance increased to $220 million-$250 million from $210 million-$250 million.
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Aftermarket offset Power Systems decline
The Aftermarket segment grew while Power Systems declined; the filing materials indicate that Aftermarket growth offset the Power Systems decline, but do not provide segment revenue amounts.
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Share repurchases continued
The company repurchased $599 million of common stock through September 30, 2026, under a total authorized program of $750 million.
What to watch
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Foreign-exchange volatility
Currency movements generated approximate nine-month other comprehensive income impacts of $24 million from the Chinese renminbi, $(14) million from the Indian rupee, $(15) million from the British pound, and $(20) million from the euro. The company also had a deferred pre-tax loss of $5 million on its net investment hedge at September 30, 2026.
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ERP implementation risk
The company implemented 1 new SAP ERP system during the third quarter and modified certain business processes and internal controls over financial reporting. Management concluded the controls were effective, but implementation-related process changes could increase execution and reporting risk.
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Acquisition integration risk
The stoba Group acquisition closed on October 1, 2026, and the raised outlook includes its expected fourth-quarter contribution; integration and execution risk therefore remain relevant to the $3.625 billion-$3.675 billion sales outlook.
Management's outlook
Full-year 2026 net sales guidance was raised to $3.625 billion-$3.675 billion from $3.565 billion-$3.665 billion; net earnings guidance was raised to $160 million-$182 million from $155 million-$180 million; adjusted EBITDA guidance was raised to $500 million-$520 million from $485 million-$515 million; and adjusted free cash flow guidance was raised to $220 million-$250 million from $210 million-$250 million. The updated outlook includes the expected fourth-quarter contribution from the stoba Group acquisition, which closed on October 1, 2026.
Earlier filings 4
10-K · February 12, 2026
PHINIA reported modest top-line improvement with net sales of $3,483 million in 2025 (up from $3,403 million in 2024) while executing a small, targeted acquisition (SEM for $47 million) and a late-2025 reporting shift…
10-Q · October 28, 2025
PHINIA reported a revenue beat with net sales of $908 million for Q3 2025 (up from $839 million a year ago) but profitability deteriorated: operating income fell to $34 million and diluted EPS to $0.33, driven largely…
10-Q · July 24, 2025
PHINIA reported a beat in Q2: net sales of $890M and diluted EPS of $1.14 for the three months ended June 30, 2025, with operating income of $89M (10.0% margin), all improving versus the year-ago quarter. Both…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.