Delphi has posted second quarter net income of US$369m with revenue up 5% to US$4.3bn.
Year-to-Date highlights include:
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- Revenue of US$8.6bn, up 7% adjusted for currency exchange, commodity movements, acquisitions and divestitures.
- Net income from continuing operations of US$704m.
- Adjusted operating income up 3% to US$1.12bn.
“Delphi delivered another strong quarter driven by our portfolio of relevant technologies,” said Delphi president and CEO, Kevin Clark.
“Based on our strong first half performance, we are raising our sales and earnings outlook for the year.
“We continue to execute as planned on the announced spin-off of our Powertrain segment and remain committed to providing value to our customers and creating value for our shareholders.”
The supplier continued with its planned tax-free spin-off of its Powertrain Systems segment into a new, independent publicly traded company and remains on track to complete the transaction by March next year.
Powertrain intends to have its ordinary shares listed on the New York Stock Exchange. There is no assurance regarding the timing of the spin-off or its completion and the transaction is subject to customary market, regulatory and other conditions.
