Financial Performance - PHINIA's net sales for Q1 2025 were 796million,adecreaseof67 million, or 8%, compared to 863millioninQ12024[96]−CostofsalesforQ12025was624 million, representing 78% of net sales, compared to 671millionand78172 million, or 21.6% of net sales, down from 192million,or22.262 million, or 7.8% of net sales, compared to 71million,or8.126 million, consistent at 3.3% of net sales, compared to 29 million in Q1 2024[96] - SG&A expenses for Q1 2025 were 107 million, up from 104millioninQ12024,representing13473 million, a decrease of 10.2% from 527millioninthesameperiodof2024[117]−TheAftermarketsegmentreportednetsalesof323 million for the three months ended March 31, 2025, down from 336millioninthesameperiodof2024,reflectingadecreaseof3.9872 million, consisting of 373millionincashandcashequivalentsand499 million available on its revolving credit facility[119] - Net cash provided by operating activities increased to 40millioninQ12025from31 million in Q1 2024, mainly due to lower interest payments[123] - Net cash used in investing activities was 35millioninQ12025,downfrom42 million in Q1 2024, with capital expenditures representing 4.4% of sales[124] - Net cash used in financing activities increased to 117millioninQ12025from41 million in Q1 2024, primarily due to increased stock repurchases[125] Currency Impact - The company deferred a pre-tax loss of 10millionasofMarch31,2025,relatedtoanetinvestmenthedgeforcurrencytranslationrisk[130]−Thecompanyexperienceda526 million impact on other comprehensive income for the three months ended March 31, 2025[132] Taxation - The effective tax rate for Q1 2025 was 48%, with an expected full-year effective tax rate between 38% and 42%[106]
PHINIA (PHIN)2025-04-25 14:59