In a statement made by Delphi Automotive this week, the supplier announced that they had more than doubled their net income in Q4 2013 to $298 million in comparison to $136 million in Q4 2012.
Though analysts had expected Delphi’s revenue to reach $4.08 billion in the outgoing year, the supplier pulled in $4.18 billion with increases in Asia (14 percent), North America (9 percent) and Europe (7 percent); revenue in South America fell 6 percent.
Automotive News reports that profits rose in Delphi’s electrical/electronic and powertrain systems units for the year, resulting in gains of 38 percent and 20 percent, respectively. Gains were also made in their electronics/safety and thermal systems units, as well.
On the stock market, the supplier earned $1.12 per share excluding one-time items, 8 cents more than analysts expected. However, Delphi said there would be a weaker Q1 2014 coming for their bottom line in the range of $1.04 to $1.08 per share before one-time items on revenue between $4.2 billion and $4.3 billion; analysts were expecting $1.19/share on revenue of $4.36 billion.
For the upcoming year in totality, Delphi hopes to earn $4.70 to $4.95/share before one-time items on revenue between $17.2 billion to $17.6 billion, in opposition to analyst expectations of $4.90/share on revenue of $17.46 billion; the forecast is based on assumption of a 3 percent increase in global vehicle production.