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.
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%.