Delphi Technologies PLC (NYSE: DLPH) (“Delphi Technologies” or the “Company”), a global leader in vehicle propulsion, today reported first quarter 2019 U.S. GAAP earnings of $0.18 per diluted share. Excluding special items, first quarter earnings totaled $0.67 per diluted share. The Company also reported revenue of $1.2 billion for the quarter, a decrease of 6% compared to the respective equivalent prior period, on an adjusted basis.
First quarter highlights
- Revenue of $1.2 billion, down 6%(*) year-on-year
- U.S. GAAP net income of $16 million, diluted earnings per share of $0.18
- Excluding special items, earnings of $0.67 per diluted share
- U.S. GAAP operating income of $55 million, or 4.8% margin
- Adjusted operating income of $87 million, or 7.6% margin
- Generated $21 million of cash from operating activities
- Returned $15 million to shareholders through share repurchases
(*) Adjusted for currency exchange
CEO comments
“We made an encouraging start to 2019 and are reaffirming our outlook for the year. Consistent with our vision to be the pioneers in propulsion technology solutions which enable vehicles to drive cleaner, better and further, we continue to have strong momentum on key initiatives that will support our long-term growth,” said Richard F. Dauch, Chief Executive Officer of Delphi Technologies. “Having completed my initial orientation of the company in Q1, I am even more bullish about the opportunity here at Delphi Technologies to create value for all our stakeholders. We are now working at pace to define, prioritize and resource the actions we will take to ensure this potential becomes a reality. Our teams are operating with a renewed sense of urgency and focus on execution, and I look forward to the future with confidence.”
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SOURCE: Delphi Technologies
