Delphi’s net income boosts 42% in second quarter 2017
Auto supplier Delphi Automotive saw its net income skyrocketed 42% to US$ 386 million in the second quarter of 2017 as the company focus its strategy in electrification and safety systems, including those being developed for self-driving vehicles.
The company raised its full-year forecasts, including a revenue of US$ 16.85 billion to US$ 17.05 billion from a previous projection of US$ 16.50 billion to US$ 16.90 billion.
Delphi said it remains on track to complete the spinoff of its internal combustion engine business by March 2018, a transaction that includes operations in Mexico. That unit, called Powertrain Systems, accounted for 27% of the company’s revenue in the second quarter.
Income from continuing operations rose to US$ 369 million in the second quarter, up 43% from US$ 258 million a year earlier.
Delphi has been in Mexico since 1978, with more than 60,000 workers is one of the largest private employers in the country. With over 45 manufacturing facilities in 22 cities, across 12 states, all Delphi divisions have a presence in Mexico. Eighteen of these facilities have earned the Shingo Award for Excellence in Manufacturing.
The Delphi Mexico Technical Center (MTC), located in Ciudad Juarez, is the company’s largest research and development site worldwide, it employs 2,000 engineers from nearly two dozen countries. More than twenty languages are spoken at the MTC.