Phinia reports Q1 adjusted EPS 94c, consensus $1.00

Reports Q1 revenue $796M, consensus $814.11M. Brady Ericson, president and CEO commented: “Our team’s focus on operating discipline has aided us in navigating through expected market dynamics and economic uncertainties and limiting the impacts of these obstacles. We remain focused on our long-term strategies of strategic growth, disciplined investment and sustainable, high-quality margin and cash flow generation. Our capital allocation strategy continues to be balanced between growth and returning value to shareholders, with $111 million returned to shareholders through dividends and share repurchases in the first quarter.”