Delphi Automotive announced Financial Results for the First Quarter of 2017


On Wednesday, Delphi Automotive PLC (NYSE: DLPH), a leading global technology company, announced its financial results for the first quarter of 2017.

According to the company, revenue increased 9% to $4.3 billion in the first quarter adjusted for currency exchange, commodity movements, acquisitions and divestitures. Adjusted operating income was up 5% to $537 million. U.S. GAAP net income from continuing operations was $335 million, and diluted earnings per shares was $1.24 per share. Excluding certain items, earnings from continuing operations was up 17% to $1.59 per diluted share.

For the full year 2017, the company expected net sales to be between $16.5 billion and $16.9 billion. Adjusted operating income is expected to be between $2.21 billion and $2.31 billion. Adjusted earnings per share is expected to be between $6.4 and $6.7 per share.

“Our first quarter results reflect a great start to the year, building on the momentum we saw in 2016 with another quarter of strong growth, margins and cash flow,” Kevin Clark, the president and chief executive officer of Delphi, said in the statement.

“Today also marks a major milestone in the evolution of our company as we announced plans to spin-off our Powertrain segment, creating two independent companies, each well-positioned to meet the rapidly changing needs of our customers and deliver value to all of our stakeholders,” he said.

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