Can PHIN sustain its Q4 performance into next year?

**PHINIA's Q4 performance is unlikely to be sustained into next year** based on several factors:

1. **Revenue Decline**: PHINIA experienced a revenue decline of 5.56% year-over-year in Q4, with total revenue reaching $833 million. This decrease, coupled with a significant intersegment eliminations of -254 million, suggests a challenging sales environment or operational inefficiencies.

|code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code|
|---|---|---|---|---|---|---|
|PHIN|PHIN.N|PHINIA|20240101-2024|Inter-Segment Eliminations|-2.54E8|169|
|PHIN|PHIN.N|PHINIA|20240101-2024|Inter-Segment Eliminations|-1.9E8|169|
|PHIN|PHIN.N|PHINIA|20240101-2024|Inter-Segment Eliminations|-1.25E8|169|
|PHIN|PHIN.N|PHINIA|20240101-2024|Inter-Segment Eliminations|-5.1E7|169|
|PHIN|PHIN.N|PHINIA|20240101-2024|Inter-Segment Eliminations|-5.1E7|169|
|PHIN|PHIN.N|PHINIA|20240101-2024|Aftermarket|3.38E8|169|
|PHIN|PHIN.N|PHINIA|20240101-2024|Fuel Systems|5.76E8|169|

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|PHIN|PHIN.N|PHINIA|2024 Q1|3.3532934131736525|8.63E8|169|
|PHIN|PHIN.N|PHINIA|2024 Q2|-2.142051860202931|8.68E8|169|
|PHIN|PHIN.N|PHINIA|2024 Q3|-6.361607142857142|8.39E8|169|
|PHIN|PHIN.N|PHINIA|2024 Q4|-5.555555555555555|8.33E8|169|

2. **Net Income Challenges**: The company's net income saw a steep decline of 84.85% year-over-year, with a net income of $5 million in Q4. This indicates that PHINIA is struggling to maintain profitability, which is a red flag for sustainability.

|code|Ticker|Name|Date|Net Income YoY|market_code|
|---|---|---|---|---|---|
|PHIN|PHIN.N|PHINIA|2024 Q1|-17.142857142857142|169|
|PHIN|PHIN.N|PHINIA|2024 Q2|-60|169|
|PHIN|PHIN.N|PHINIA|2024 Q3|3200|169|
|PHIN|PHIN.N|PHINIA|2024 Q4|-84.84848484848484|169|

3. **Dividend Sustainability**: While PHINIA has declared a dividend yield of 2.87%, the sustainability of this dividend payout is questionable given the company's financial performance and the recent authorization of a $250 million increase to its share repurchase program. This could suggest that the company is prioritizing share repurchases over maintaining a stable dividend, which may not be sustainable if financial performance does not improve.

|code|Ticker|Name|Date|Dividend Yield (TTM)|market_code|
|---|---|---|---|---|---|
|PHIN|PHIN.N|PHINIA|20240415|2.071498764754323|169|
|PHIN|PHIN.N|PHINIA|20240416|2.0675260273972604|169|
|PHIN|PHIN.N|PHINIA|20240417|2.070930296377607|169|
|PHIN|PHIN.N|PHINIA|20240418|2.024810839817547|169|
|PHIN|PHIN.N|PHINIA|20240419|2.0432541377469295|169|
|PHIN|PHIN.N|PHINIA|20240422|1.9782967174980615|169|
|PHIN|PHIN.N|PHINIA|20240423|1.9691355801389248|169|
|PHIN|PHIN.N|PHINIA|20240424|1.9762535502194682|169|
|PHIN|PHIN.N|PHINIA|20240425|1.9973982254697284|169|
|PHIN|PHIN.N|PHINIA|20240426|1.9701492921492918|169|

4. **Lack of Growth Projections**: There is no indication of a strong growth trajectory for PHINIA in the near future. The lack of positive growth projections for revenue and net income, combined with the challenges in sustaining profitability and dividend payments, suggests that Q4 performance is not likely to be replicated in the coming year.

In conclusion, PHINIA faces significant headwinds in terms of revenue growth, profitability, and dividend sustainability, which makes it uncertain whether the company's Q4 performance can be maintained into next year. The company's focus on share repurchases over dividends and the absence of positive growth indicators point to a cautious outlook for PHINIA's future performance.