10:46 AM EDT, 10/31/2024 (MT Newswires) -- Phinia ( PHIN ) shares rose 2.3% in recent trading Thursday after the company reported higher and stronger-than-expected adjusted net earnings.

The company reported Q3 adjusted net earnings Thursday of $1.17 per diluted share, up from $0.69 a year earlier.

Three analysts polled by Capital IQ expected $0.91.

Net sales for the quarter ended Sept. 30 were $839 million, down from $896 million a year earlier.

Two analysts surveyed by Capital IQ expected $849.3 million.

The company said it now expects 2024 net sales of $3.36 billion to $3.41 billion, compared with $3.42 billion to $3.58 billion previously. Three analysts surveyed by Capital IQ expect $3.42 billion.

Price: 45.50, Change: +1.00, Percent Change: +2.25