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Delphi Technologies Q1 net income drops 83% to US$16m

By Simon Warburton | 2 May 2019

Delphi Technologies has reported first quarter revenue down 6% to US$1.2bn, while net income dropped from US$98m to US$16m.

"We made an encouraging start to 2019 and are reaffirming our outlook for the year," said Delphi Technologies CEO, Richard Dauch.

"Consistent with our vision to be the pioneers in propulsion technology solutions which enable vehicles to drive cleaner, better and further, we continue to have strong momentum on key initiatives that will support our long-term growth.

"Having completed my initial orientation of the company in Q1, I am even more bullish about the opportunity here at Delphi Technologies to create value for all our stakeholders.

"We are now working at pace to define, prioritise and resource the actions we will take to ensure this potential becomes a reality. Our teams are operating with a renewed sense of urgency and focus on execution and I look forward to the future with confidence."