Strong Business Retention and New Wins
PHINIA Inc. experienced strong business retention and new conquest wins, including a 350 bar GDi system for the Brazilian market and high-volume fuel delivery module wins in the Americas.
Capital Return Strategy and Share Buybacks
Returned $111 million to shareholders through share buybacks and dividends, including repurchasing more than 7.5 million shares or roughly 16.5% of outstanding shares.
Strong Balance Sheet and Liquidity
PHINIA Inc. maintains a strong balance sheet with $373 million in cash and cash equivalents and total liquidity of approximately $900 million.
Positive Outlook for New Business Opportunities
Continued focus on product development and customer relationships, leading to sustained momentum in new customer growth and business expansion in various markets.