Delphi Automotive Q2 Profit Tops Street; Lifts FY14 Adj. EPS View - Quick Facts

(RTTNews) - Delphi Automotive Plc (DLPH), a global vehicle components manufacturer, posted a rise in its second-quarter 2014 net income attributable to the company to $382 million, or $1.26 per share, from $367 million, or $1.17 per share, a year before.

Excluding special items such as restructuring-related charges, acquisition-related integration costs, asset impairments and losses on extinguishment of debt, adjusted earnings for the latest quarter totaled $432 million, or $1.42 per share, that includes the favorable impacts of a decreased effective tax rate and a reduced share count. Adjusted net income for the prior-year period was $388 million, or $1.24 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $1.33 per share for the period. Analysts' estimates typically exclude special items.

The firm recorded quarterly net sales of $4.45 billion, a 5% increase from the prior-year period's $4.24 billion, reflecting strong growth in Asia and North America. Wall Street expected revenues of $4.47 billion. Adjusted for the impacts of currency exchange, commodity movements, acquisitions and divestitures, revenue grew by 3% in the second quarter. This reflects growth of 13% in Asia, 7% in North America and flat performance in Europe, partially offset by a decline of 24% in South America, the company said.

For the full year, the company revised up its adjusted earnings per share guidance to $4.95 - $5.10 from the prior outlook of $4.80 - $5.00; while it still expects fiscal 2014 revenue of between $17.20 billion - $17.60 billion. Street currently is looking for fiscal 2014 earnings of $5.01 per share on revenues of $17.5 billion.