Delphi Automotive Profit Rises, Sees Weak Q1

(RTTNews) - Delphi Automotive plc (DLPH) Tuesday reported an increase in profit for the fourth quarter, driven mainly on growth in revenues reflecting continued strong performance from North America and Asia. Earnings for the quarter easily beat analysts' estimates, as did revenues.

Meanwhile, the auto-parts maker detailed a weak financial outlook for the first quarter, which is indicated to miss current Wall Street estimates.

Gillingham, United Kingdom based Delphi's fourth quarter profit rose to $298 million or $0.97 per share from $136 million or $0.43 per share last year.

Adjusted earnings for the quarter improved to $1.12 per share from $0.90 per share a year ago. Seventeen analysts polled by Thomson Reuters expected earnings of $1.05 per share for the quarter. Analysts' estimates typically exclude special items.

Delphi, which was spun off from General Motors, said its revenues for the fourth quarter grew 11 percent to $4.18 billion from $3.77 billion last year. Fourteen analysts estimated revenues of $4.08 billion for the quarter.

Delphi's revenue growth reflects continued strong growth in Asia and North America. Revenues from Asia grew 14 percent and North America improved 9 percent, while Europe recorded a 7 percent growth with a 6 percent decline in South America.

Looking forward to the first quarter, the company expects adjusted earnings of $1.04 to $1.08 per share on revenues of $4.20 billion to $4.30 billion. Analysts currently see earnings of $1.19 per share with revenues of $4.36 billion for the first quarter.

For the full year 2014, the company expects adjusted earnings of $4.70 to $4.95 per share and revenue of $17.20 billion to $17.60 billion. Analysts currently sees earnings of $4.90 per share on revenues of $17.46 billion for 2014.

DLPH is currently trading at $59.60, up $0.47 or 0.79%, on the Nasdaq.