Federal-Mogul's Q3 results show revenue up 11%, loss on restructuring

Newly acquired Affinia chassis and Honeywell brake components businesses boost earnings.

Federal-Mogul has announced its third-quarter 2014 earnings, posting revenue of USD1.9 billion, up 11% versus the third quarter of 2013. The supplier reported operational EBITDA of USD152 million, 8.1% of sales, and operating income of USD70 million. Net sales stood at USD1.871 billion, also an increase of 11%. Despite the positive operating income, restructuring costs led to an USD18-million loss, compared with a net income of USD38 million in the third quarter of 2013. Federal-Mogul's Powertrain division reported increased sales on improved light-vehicle production and market-share gains. Revenue for this unit increased to USD1.1 billion compared with a year earlier. Revenue increased in North America by 7%, in Europe by 4%, and in the rest of the world by 11%.