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Delphi’s Net Profit Rises 4%
Delphi Automotive plc reports its second-quarter net earnings climbed to $382 million from $367 million a year earlier.
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Delphi Automotive plc reports its second-quarter net earnings climbed to $382 million from $367 million a year earlier.
Revenue in April-June grew 5% to nearly $4.5 billion. Gains in Asia (13%) and North America (7%) offset a 24% drop in South America. Results in Europe were flat.
The electronics supplier predicts vehicle production this year will expand 3% to about 91 million units, led by growth in China (9%), North America (5%) and Europe (2%).
Delphi expects vehicle output in South America to plunge 15% in 2014. The company says its third-quarter results will be tempered by a restructuring charge to cover cost-cutting measures that include significant job cuts in the region.
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