Mexican Media Brands
Delphi’s Net Income Plunges as Revenue Slides
Delphi Technologies Inc. says slumping vehicle production and unfavorable exchange rates sapped revenue and slashed profits in the first quarter.
#economics
Share
Delphi Technologies Inc. says slumping vehicle production and unfavorable exchange rates sapped revenue and slashed profits in the first quarter.
The propulsion specialist’s revenue for the period shrank 11% to $1.2 billion. Net income sank 84% to $16 million.
Richard Dauch, who was named CEO in January, reiterates the company’s full-year outlook, which anticipates revenue of about $4.7 billion, an adjusted operating margin of 9% and adjusted earnings per share between $3.00 and $3.20.
In 2018, Delphi Technologies’ first full year a publicly traded company, the company reported flat revenue of $4.9 billion and net income of $358 million ($4.03 per share).
RELATED CONTENT
-
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.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.