Delphi Automotive PLC has reported fourth quarter 2016 U.S. GAAP earnings from continuing operations of $1.03 per diluted share. Excluding special items, fourth quarter earnings from continuing operations totaled $1.83 per diluted share.
Fourth quarter revenue was $4.3 billion, up 10 percent adjusted for currency exchange, commodity movements, acquisitions and divestitures. The company reported U.S. GAAP net income from continuing operations of $281 million, and diluted earnings per share from continuing operations of $1.03. Excluding special items, earnings from continuing operations were $1.83 per diluted share, up 32 percent.
For the full year 2016, Delphi reported revenue of $16.7 billion, up 8 percent adjusted for currency exchange, commodity movements, acquisitions and divestitures. U.S. GAAP net income from continuing operations was $1,152 million, and diluted earnings per share from continuing operations were $4.21. Excluding special items, earnings from continuing operations for the full year were $6.28 per diluted share, up 20 percent.
“We finished 2016 strong, delivering another year of robust sales, margin expansion, and earnings growth with solid cash flow,” said Kevin Clark, Delphi president and CEO. “Our strong organic growth and bookings demonstrate that our portfolio of market-relevant advanced technologies is meeting changing industry needs. Delphi remains focused on delivering profitable growth, executing flawlessly for customers, and delivering on our commitments to shareholders again in 2017.”