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US: Delphi posts Q3 earnings slightly up on last year

By Dave Leggett | 5 November 2013

Delphi has posted third quarter net income of US$271m, or 87 cents a share, from US$269m, or 84 cents a share, in the same quarter last year. The result was slightly ahead of analyst expectations.

“Overall, we had a great quarter. Although we remain cautious, the European market seems to be stabilising,” said Chief Executive Rodney O`Neal in a statement.

The company reported third quarter 2013 revenue of US$4bn, an increase of 3% compared to the third quarter of 2012, adjusting for currency exchange, commodity movements, acquisitions and divestitures. This reflects growth of 10% in Asia and 9% in North America, offset by declines of 5% in Europe and 2% in South America.

For the nine months ended September 30, 2013, the company reported revenue of US$12.3bn, a decrease of 1% compared to the nine months ended September 30, 2012, adjusting for currency exchange, commodity movements, acquisitions and divestitures. This reflects growth of 9% in Asia, 4% in North America and 6% in South America, offset by a decline in Europe of 10%.

For the 2013 year-to-date period, Adjusted Net Income totalled US$1,026m million, which compares with US$954m last year.