Delphi Automotive PLC is one of the leading global manufacturers of vehicle components and a supplier of technology for automotive and commercial vehicles. The company regularly undertakes acquisitions and alliances to enhance its technological capability, increase its operating scale, augment its client base and expand geographically. In addition, Delphi Automotive follows an active capital deployment strategy to boost shareholder value.
However, loss of revenues from the divestment of Thermal Systems business had been negatively impacting Delphi Automotive’s top line in the recent past. Moreover, the company’s sales are dependent on vehicle production and sales volumes of automakers.
Estimate Trend & Surprise History
Investors should note that the second-quarter Zacks Consensus Estimate for Delphi Automotive remained unchanged over the past month.
The company has delivered a flurry of positive earnings surprises. It has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters with an average beat of around 0.93%. Thus, investors have been eagerly awaiting Delphi Automotive’ latest earnings report.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings
Delphi Automotive’s earnings increased 19% year over year to $1.59 per share in the second quarter of 2016, beating the Zacks Consensus Estimate of $1.55.
Revenues
Delphi Automotive reported revenues of $4.21 billion, up 9% year over year. Revenues marginally missed the Zacks Consensus Estimate of $4.22 billion. The year-over-year increase was due to the acquisition of HellermannTyton and volume growth in North America, Europe and Asia Pacific.
Key Stats/Developments to Note
In first half of 2016, Delphi Automotive repurchased 6.49 million shares for approximately $435 million. Following this, the company had $1.57 billion available for repurchases under its current share buyback program.
For 2016, Delphi Automotive reduced its revenue guidance to $16.25–$16.45 billion from the prior range of $16.6–$17 billion. Adjusted earnings per share are expected in the range of $5.95–$6.05, compared to the prior range of $5.80–$6.10.
Zacks Rank
Currently, Delphi Automotive has a Zacks Rank #4 (Sell), but that could change following its earnings report which has just released.
Market Reaction
Delphi Automotive’ shares have moved down 1.84% in pre-market trading so far following the release. Clearly, the initial reaction to the report is negative.
Check back later for our full write up on Delphi Automotive’ earnings report!
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Delphi Automotive PLC is one of the leading global manufacturers of vehicle components and a supplier of technology for automotive and commercial vehicles. The company regularly undertakes acquisitions and alliances to enhance its technological capability, increase its operating scale, augment its client base and expand geographically. In addition, Delphi Automotive follows an active capital deployment strategy to boost shareholder value.
However, loss of revenues from the divestment of Thermal Systems business had been negatively impacting Delphi Automotive’s top line in the recent past. Moreover, the company’s sales are dependent on vehicle production and sales volumes of automakers.
Estimate Trend & Surprise History
Investors should note that the second-quarter Zacks Consensus Estimate for Delphi Automotive remained unchanged over the past month.
The company has delivered a flurry of positive earnings surprises. It has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters with an average beat of around 0.93%. Thus, investors have been eagerly awaiting Delphi Automotive’ latest earnings report.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings
Delphi Automotive’s earnings increased 19% year over year to $1.59 per share in the second quarter of 2016, beating the Zacks Consensus Estimate of $1.55.
Revenues
Delphi Automotive reported revenues of $4.21 billion, up 9% year over year. Revenues marginally missed the Zacks Consensus Estimate of $4.22 billion. The year-over-year increase was due to the acquisition of HellermannTyton and volume growth in North America, Europe and Asia Pacific.
Key Stats/Developments to Note
In first half of 2016, Delphi Automotive repurchased 6.49 million shares for approximately $435 million. Following this, the company had $1.57 billion available for repurchases under its current share buyback program.
For 2016, Delphi Automotive reduced its revenue guidance to $16.25–$16.45 billion from the prior range of $16.6–$17 billion. Adjusted earnings per share are expected in the range of $5.95–$6.05, compared to the prior range of $5.80–$6.10.
Zacks Rank
Currently, Delphi Automotive has a Zacks Rank #4 (Sell), but that could change following its earnings report which has just released.
Market Reaction
Delphi Automotive’ shares have moved down 1.84% in pre-market trading so far following the release. Clearly, the initial reaction to the report is negative.
Check back later for our full write up on Delphi Automotive’ earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>