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
-
MTU Research to Boost Fuel Economy ~20%
Researchers are using V2X communications and other methods to provide vehicles with a significant increase in fuel economy.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
Fuel Economy Gains in July
What you’re looking at here is a sales-weighted fuel economy chart (the numbers in the white boxes represent miles per gallon) that was put together by two diligent researchers, Michael Sivak and Brandon Schoettle, of the University of Michigan Transportation Research Institute.