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July 30, 2015

UK: Delphi Q2 results beat forecasts

Delphi has posted strong second quarter results with net income up to US$667m on sales of US$3.86bn in the second quarter.

Delphi has posted strong second quarter results with net income up to US$667m on sales of US$3.86bn in the second quarter.

However, the company faced headwinds on currency movements. Revenue fell 5% from US$4.06bn a year ago, due largely to unfavourable currency movements.

Delphi has also announced several transactions aimed at bolstering its presence in the growing area of connected cars.

“Delphi’s strong financial results and record second quarter margins are the result of another quarter of outstanding operating performance and the continued execution of our strategy to generate growth,” said Kevin Clark, president and chief executive officer.

We also successfully completed the sale of our wholly owned Thermal Systems business in the quarter, further allowing Delphi to strategically focus on a high-growth portfolio that capitalizes on industry trends in safe, green and connected vehicles.”

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