Delphi has raised its 2012 earnings per share (EPS) guidance after booking first quarter net income of US$342m compared with $291m in Q1 2011 on revenue up 2.4% to $4.1bn.

EPS of $1.04 compared with $0.42 in Q1 2011.

The Q1 EBITDA and EBITDA margin of $578m and 14.1% compared with $529m and 13.2%.

Guidance was raised to $3.63 to $3.85

“I’m really pleased with an outstanding first quarter. We achieved record EBITDA margins of 14.1% and above market growth,” said CEO and president Rodney O’Neal.”

Revenue grew 12% in Asia, 6% in North America, and 4% in Europe but was down 11% in South America as a result of reduced vehicle production.