Delphi Automotive beats by $0.07, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY14 EPS in-line, revs in-line
Reports Q4 (Dec) adjusted earnings of $1.12 per share, $0.07 better than the Capital IQ Consensus Estimate of $1.05; revenues rose 11.0% year/year to $4.18 bln vs the $4.11 bln consensus.
Guidance:
Q1 - Co issues downside guidance for Q1, sees adj EPS of $1.04-1.08 vs. $1.18 Capital IQ Consensus Estimate; sees Q1 revs of $4.2-4.3 bln vs. $4.34 bln Capital IQ Consensus Estimate.
FY14 - Co issues in-line guidance for FY14, sees adj EPS of $4.70-4.95 vs. $4.90 Capital IQ Consensus Estimate; sees FY14 revs of $17.2-17.6 bln vs. $17.45 bln Capital IQ Consensus Estimate.
Share Repurchase Program update
During the fourth quarter of 2013, Delphi repurchased 1.69 million shares for ~$95 million under its existing $750 million share repurchase program, leaving approximately $190 million available for future share repurchases under this program.