Delphi’s Earnings Rise 11%

Delphi Automotive plc reports second-quarter earnings of $367 million, up from $330 million in the same period last year.

Global revenue rose 6% to $4.2 billion as advances in Asia (9%), North America (4%) and South America (13%) offset a 7% decline in Europe.

Most of the improvement resulted from Delphi's acquisition of a British maker of electrical connectors from Bain Capital's FCI Group. The company adds that its revenue growth was 1% when currency adjustments, commodity shifts, acquisitions and divestitures are considered.

Quarterly adjusted operating income (EBITDA) climbed nearly 10% to $645 million year on year. Cash flow from operations improved to $523 million from $461 million in the same period last year.

Delphi's second-quarter operating margin rose half a point to a record 15.2%. The company left its full-year forecast virtually unchanged, predicting revenue of $16.3 billion-$16.5 billion and adjusted earnings per share between $4.22 and $4.45.