Mexican Media Brands
Delphi Lowers Outlook
Delphi Automotive plc reports its net income in the third quarter jumped 32% to $404 million.
#economics
Share
Delphi Automotive plc reports its net income in the third quarter jumped 32% to $404 million. But unfavorable exchange rates, divestitures and commodity shifts turned a 6% gain in gross revenue into a 4% decline to $3.6 billion.
The U.K.-based supplier of vehicular electronics, which lowered its outlook for the year, says its adjusted net income from continuing operations was $351 million compared with $299 million in the third quarter of 2013.
Delphi now expects maximum full-year revenue of $15.1 billion, down from its previous estimated high of $15.6 billion. Per-share profits will be no more than $5.25 compared with an earlier high-end target of $5.40.
Delphi attributes its more subdued outlook to China’s cooling auto market, where the company generated roughly 20% of its sales last year.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data