Delphi reports Q3 results
Components manufacturer Delphi Automotive PLC reported third quarter 2015 U.S. GAAP earnings from continuing operations of $1.23 per diluted share.
Excluding special items, third quarter earnings from continuing operations totaled $1.28 per diluted share.
The company reported third quarter 2015 revenue of $3.6 billion, a decline of 3 percent from the prior year period, reflecting unfavorable currency impacts, which offset continued volume growth, principally in North America and Europe. Adjusted for currency exchange, commodity movements and the divestiture of the company’s reception systems business, revenue increased by 6 percent in the third quarter. This reflects growth of 9 percent in North America, 6 percent in Europe and 5 percent in Asia, partially offset by a decline of 20 percent in South America.
“Delphi’s flexible business model delivered solid performance with revenue growth and expanded margins,” said Kevin Clark, president and chief executive officer.
