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MarketScreener Homepage  >  Equities  >  Nyse  >  Aptiv    APTV   JE00B783TY65

APTIV

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Delphi Automotive : Profit Up 15% Despite Slightly Softer Revenue

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02/05/2015 | 09:41am EST
By Jeff Bennett 

Auto-parts maker Delphi Automotive PLC reported a 15% jump in fourth-quarter net profit and beat analyst expectations although currency and commodity costs ate into revenues.

The company said in its full-year financial forecast that it expects to generate as much as $17.5 billion of revenue, setting the stage for the leadership change as longtime Delphi-veteran Rodney O'Neal retires next month and hands the chief executive role to Kevin Clark.

Mr. Clark takes over Delphi at a time when auto makers are clamoring for all things technology. He will be challenged with balancing demand against controlling production capacity, especially in China where companies continue adding plants. A softness in the European market continues and much of the auto industry is facing troubles in Russia. The economic turmoil there has forced some companies, such as General Motors Co., to idle their factories.

For the fourth quarter, Delphi reported a profit of $344 million, or $1.16 a share, compared with $298 million, or 97 cents a share a year earlier. Excluding some items, the company earned $1.32 a share, beating analyst estimates. Revenue, however, was virtually flat at $4.15 billion and below analyst expectations of $4.24 billion.

Delphi had signaled that it is wrestling with currency fluctuations especially with the strong dollar in Europe which is a major revenue generator for the company. Revenue fell 3% in the quarter in Europe and 9% in South America due primarily to currency issues.

"While bears may nitpick here, we don't believe much has changed," RBC Capital Markets LLC analyst Joesph Spak said in a research note. "We continue to like the story of revenue acceleration in 2015 and 2016, see potential upside to 2015 guidance, and find the valuation attractive."

Delphi said it expects per-share earnings to range from $1.15 to $1.30 for the current quarter and revenue to be in the range of $4.15 billion to $4.25 billion. Full-year earnings are expected to be in the range of $5.35 to $5.65 per share, with revenue as much as $17.5 billion.

Write to Jeff Bennett at jeff.bennett@wsj.com

Access Investor Kit for General Motors Co.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US37045V1008

Stocks mentioned in the article
ChangeLast1st jan.
APTIV 0.42% 93.77 Delayed Quote.51.66%
GENERAL MOTORS COMPANY 0.65% 35.54 Delayed Quote.5.56%
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Financials (USD)
Sales 2019 14 311 M
EBIT 2019 1 538 M
Net income 2019 1 004 M
Debt 2019 3 888 M
Yield 2019 0,95%
P/E ratio 2019 24,3x
P/E ratio 2020 17,8x
EV / Sales2019 1,94x
EV / Sales2020 1,81x
Capitalization 23 839 M
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 97,56  $
Last Close Price 93,38  $
Spread / Highest target 22,1%
Spread / Average Target 4,48%
Spread / Lowest Target -27,2%
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Managers
NameTitle
Kevin P. Clark President, CEO & Non-Independent Director
Rajiv Lochan Gupta Independent Non-Executive Chairman
William H. Guggina Vice President-Global Operations
Joseph R. Massaro Chief Financial Officer & Senior Vice President
Matthew Peterson Chief Information Officer & Senior Vice President
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