for Mike, thank Thanks, and joining you PHINIA's call. earnings first all
completed an opening trading on and ring to As Mike X honored were company. time Xrd, the BorgWarner from the on first as the to July our spin-off for prior July stock independent bell mentioned, we
our celebrate milestone. commitment of and nearly members supporters entire team, team without and say dedication would possible Board leadership leadership that, thank the and want but Our to family not XX,XXX It great it and were this present event, key of a to you. key was have for Directors been employees
were possible. and shown celebrate the excitement of as to extremely team the around and high. world to level our after, great our The share of excitement many leadership weeks and with our celebrations scattered the employees as was commitment In milestone the
missing team business. is journey not meet together to to beat our customers and our tight came future While day-to-day in confident on how executing separation our we deadlines our and related a servicing just extraordinarily are given in our beginning,
team, together and experience strong deliver strategies. bringing a on the talent to We've assembled our right
as We of talent. have balance a legacy well and Delphi top outside as BorgWarner
the chose on because we drive achieve the believe XXXX. potential thing leadership all one carbon focus our very and became here long-term in be of our We the all As to support we product built business. neutrality team, clear. by We to
We been and the many highly long-term feedback have relationships of OEMs top the with spin-off the in has supportive. world around their
footing. years value, that suppliers The challenged reliable technology the have chain the a footprint that last have supply a and brings demonstrated importance of have solid financial global few and strong,
systems on to limited more they an wallet as rely With integrating share software partner. of further we're our will more growth their increasingly multiple we provide confident and avenues as backdrop, us and for will have business. their supplier services, With and this into resources, complete as ideal calibration us well increasing
to Now to take our minutes I a few talk want about strategy.
Over met and the a We've out last appreciate about stand story. with many of you few things few months, really I've feedback. our that heard your
industrial applications, more sales XX% and equipment and aftermarket from First, OE original this a channels. pure business. vehicle is than commercial light independent of ICE service the our come Today, vehicle not
cash both have sacrificing Second, business path believe can accomplish we We to the we desire margins long this for grow profitably term. clear our the that or ability. and without generating
markets. We products synergistic brands, will to to competencies, and leverage our add core distribution and footprint technologies, adjacent enter
the carbon needed achieve was will not be to neutrality. there solution that acknowledgment only finally, And an BEV
requirements. applications, with utility for high carbon-free neutral overall many performance gaseous a especially For the loads, fuel provide high highway many applications, will power, carbon high off requiring those distances, and in liquefied uptime operating traveling or optimal long and
BEV. pathway of independence. portability Regions to and include fuels regions some focusing rather of also neutral the density, these These energy fuels. their on energy, energy than and infrastructure carbon are challenges, security the national applications availability the as require practicality carbon renewable There neutrality
In the hybrid in gasoline and direct applications. growth light plug-in the our hybrid we injection in full with or is secular market vehicle GDI still opportunities for technology see key mid-term, GDI where
like coming Investor course. with weeks, the an on dividend around to We touch our on be of allocation intentions more capital expect our our allocation. to capital overall Board and to at I'd capital our color strategy entire our Next communicated in due In meeting already allocation Directors strategy. align provide appropriate we'll our for Day
strong remain ability earnings We generation the over business' and cash confident our long-term. in
articulated, our one, will shareholder include: returns. to be structure; our total high our and and two, commercial sheet maximizing strategic repurchasing previously rapidly industrial focus accretive and we our grow three, four, ROIC aftermarket As and optimizing shares. debt dividends; and will acquisitions This businesses; maintain opportunistically strong and balance to
alignment and Many employees economic also business. will asked key and of have our of for the strongly about that an value shareholders. the our between you for incentives framework, believe the the appropriate of tracking metrics our We along with generation, performance provide interest cash ROIC
will this to XXXX. out We for look roll
to moving in execution proud Now team's QX. the QX. of I'm
on demonstrate XX.X%. expanded period adjusted operating margin our XXX well XXXX, Versus as basis XXX by in EBITDA adjusted margins by as basis XX.X% year-over-year. points a points our positive we results momentum Our and basis a sequential to same to the
both customers. the this operating costs from recoveries XXXX reimbursement yet June, a that QX customer margins expectations each. points adjusted we portion of We our from had year supplier base, improvement a we've and year As receiving and to of costs. reflects when lumpiness an inflationary EBITDA QX supply by but with not incurring quarter improved in our our realization our QX basis, note on XX of were QX comparison this from and easy first last It's timing periods adjusted versus to basis of important of also shared
creating last received our we coming margin year, QX. difficult In next reimbursement retroactive in well QX comparison up of as more
support will profitable growth be We offset by for but to our year, operational second performance expect a our as sustainable underlying costs this in half increasing our the positive objective. corporate standalone company, continue of
heavy-duty a some is you Let OEM European walk recent business secured complying new me injectors emission with to business the for PHINIA selected existing wins. to X standards. Euro the project a U.S. vehicle through that commercial to emissions. supply a a major gas award We've been research, XXXX of by Energy XX, advance DOE partner Department and reduce of funded on announced the greenhouse development as to main to May and technologies implementation of
hydrogen direct The will feature technology. fuel PHINIA's injection pressure project new system medium
OEM. powertrain or and a continued PHINIA We secured medium-duty domain support conquests motors our last will two were And starter a for supply a contract to U.S. contract for growth. a also Asian secured PDCUs leading units application profitable supply to finally, OEM. control to a These large
like and us With that, rest Chris, to outlook detail I'd more QX year. to results who hand the of will Chris? in the for our the it walk over through
