Businessweek

Delphi Automotive PLC Presents at Barclay's Americas Select Franchise Conference, May-22-2013 10:30 AM. Venue: Langham Hotel, London, United Kingdom. Speakers: Kevin P. Clark, Chief Financial Officer and Executive Vice President.

Delphi Automotive PLC reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $4,024 million compared to $4,092 million a year ago. Operating income was $397 million compared to $464 million a year ago. Income before income taxes and equity income was $327 million compared to $436 million a year ago. Net income attributable to the company was $276 million or $0.88 diluted per share compared to $342 million or $1.04 diluted per share a year ago. Net cash provided by operating activities was $149 million compared to $293 million a year ago. Capital expenditures were $213 million compared to $260 million a year ago. Adjusted EBITDA was $562 million compared to $584 million a year ago. Adjusted operating income was $431 million compared to $470 million a year ago. Adjusted income before income taxes and equity income was $400 million compared to $442 million a year ago. Adjusted net income attributable to the company was $336 million or $1.07 per diluted share compared to $346 million or $1.05 diluted per share a year ago. The company provided earnings guidance for the second quarter of 2013. For the quarter, the company expects adjusted earnings per share of $1.05 - $1.15, adjusted EBITDA of $600 million to $630 million, adjusted EBITDA margin of 14.5% to 14.8%, revenue of $4,150 million to $4,250 million, and cash flow before financing of $1,000 million, capital expenditures of $750 million and effective tax rate of 16%. For the full year 2013, the company expects adjusted earnings per share of $4.15 - $4.41, adjusted EBITDA of $2,325 million to $2,425 million, adjusted EBITDA margin of 14.4% to 14.6%, revenue of $16,200 million to $16,600 million as compared to adjusted earnings per share of 4.12 - $4.38, adjusted EBITDA of $2,325 million to $2,425 million, adjusted EBITDA margin of 14.4% to 14.6%, revenue of $16,200 million to $16,600 million as previously reported. Cash flow before financing expects to be $1,000 million, capital expenditures expects to be $750 million and effective tax rate expects to be 16%.

The executives of Delphi Automotive PLC (NYSE:DLPH) said that they are interested in making targeted acquisitions to grow their business, according to The Wall Street Journal which cited two people familiar with the situation.

Delphi Automotive PLC announced that its Board of Directors declared a quarterly cash dividend of $0.17 per ordinary share, payable on May 30, 2013 to shareholders of record at the close of business on May 15, 2013.

Johnson Controls Inc. (NYSE:JCI) said it has received multiple "expressions of interest" to purchase its automotive electronics business but declined to identify the potential suitors. Delphi Automotive PLC (NYSE:DLPH) and Continental AG (DB:CON) have reportedly expressed interest in acquiring automotive electronics business of Johnson Controls Inc. (NYSE:JCI), people familiar with the situation said. According to the sources, the automotive electronics business may fetch about $1.2 billion. "As a matter of company policy we don't comment on merger and acquisition activity," Delphi spokeswoman Claudia Piccinin told Dow Jones News Service. Two other bidders were Valeo SA (ENXTPA:FR) and Harman International Industries, Incorporated (NYSE:HAR), said one of the people. Fabienne de Brebisson, a spokeswoman for Valeo, told Bloomberg that the French company isn’t bidding. J.P. Morgan Chase & Co. was appointed by Johnson Controls in March to advise it on the potential sale of its automotive electronics business.