Delphi Automotive reported third quarter 2012 revenues of US$3.7bn, a decrease of 6.8% from the prior year period, the result of further reductions in European production and a significant weakening of the euro and Brazilian real. Net income of $269m and diluted earnings per share of $0.84, compared to $266m and $0.79 the previous year.
“Delphi’s third quarter earnings growth demonstrates the benefits of our lean and flexible cost structure in the face of a difficult macroeconomic environment, particularly in Europe where vehicle production levels have weakened further,” said Rodney O’Neal, CEO and president.
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For the nine month period ended 30 September 2012, the company reported revenue of $11.8bn, an increase of 1.9%.
Net income was $941m, or $2.89 per share compared to net income of $855m, or $1.89 per share.
EBITDA for the first nine months of 2012 totalled $1,639m, compared to $1,589m, an increase of 3.1%. EBITDA margin was 13.9%.
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