Given the softening of the end vehicle markets, the Company is revising its full-year 2024 guidance and now expects net sales of $3.36 billion to $3.41 billion and adjusted sales of $3.34 billion to $3.39 billion. The refined net earnings and adjusted EBITDA are projected at $105 million to $125 million and $470 million to $490 million, respectively, resulting in earnings margin of 3.1% and 3.7% and adjusted EBITDA margin of 14.1% to 14.5%. PHINIA (PHIN) continues to expect to generate $160 million to $200 million in adjusted free cash flow. Adjusted tax rate is expected to be in the range of 33% to 37%.
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