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
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.