Delphi Quarterly Earnings Grow 18%

Delphi Automotive Plc posted net earnings of $342 million in the first quarter of 2012 compared with $291 million in the same period last year.

Revenue crept up 2% to $4.1 billion, bolstered by a 12% gain in Asia. The company's operating profit margin expanded to 13.1% from 13.2% a year earlier.

Delphi raised its full-year earnings outlook to $3.63-$3.85 per share from its January forecast of $3.44-$3.69.

Delphi tells Bloomberg News the company expects to regain its investment-grade rating in about 12 months. During the first quarter Moody's Investors Service and Standard & Poor's Ratings Services raised the company's rating to the highest level of junk bonds.