Federal-Mogul reports improved Q2 2014 results

July 23, 2014

July 23, 2014

Federal-Mogul Holdings Corporation (NASDAQ: FDML) has announced financial results for the second quarter ended June 30, 2014.  Net sales for the period were stated as being $1,872 million, an increase of 7% on a continuing operations basis versus the second quarter of 2013.

Operating income improved $10 million, or 11% in Q2 2014 over the same period last year. Operational EBITDA was $180 million or 9.6% of sales in the second quarter of 2014, up from $162 million, or 9.3% of sales, in Q2 2013. 

Powertrain Division Results

Federal-Mogul’s Powertrain (PT) division continued to gain market share in all regions with revenue of $1.2 billion, an increase of $90 million or 8% on Q2 2013. Revenue in North America was up 12%, while in Europe revenue was up 5% (on a constant dollar basis). Revenue in ROW was up 11%, driven by strong sales in China where sales increased by 24% compared to Q2 2013. 

“The improvements in Federal-Mogul Powertrain division’s Q2 revenue and EBITDA were driven largely by volume increases and market share gains across all regions,” stated Rainer Jueckstock, Federal-Mogul Co-CEO and CEO, Powertrain Division. “We also continue to make operational progress by restructuring and realigning our manufacturing footprint to improve our cost competitiveness.”

Motorparts Division Results

Federal-Mogul’s Motorparts division reported revenue of $791 million in Q2 2014 compared to $761 million in Q2 2013, with negligible exchange impact.  When excluding the impact of sales related to the Affinia acquisition which closed during the quarter, revenue was essentially flat.  Sales in the US and Canada aftermarket increased by 4%.  This was offset by a 6% decline in European sales on a constant dollar basis.

“We continued to make progress on our strategic priorities during the second quarter. Specifically, we secured locations and started the build-out of full product line regional distribution centres in Southern California and Eastern Pennsylvania. We also began implementation of a new, web-based inventory management system; invested in our sales force and technical training programs; and launched a new product development process,” stated Dan Ninivaggi, Federal-Mogul Co-CEO and CEO, Motorparts Division.  “In addition, we completed the Affinia chassis acquisition on May 1 and, shortly after quarter-end, closed the Honeywell brake acquisition.  At the same time, we have recruited several new senior executives and streamlined our organizational structure.”



Subscribe to our FREE e-newsletter

Register to receive our FREE e-newsletter and a complimentary digital subscription to Powder Metallurgy Review magazine:

Your email address:

Useful links: Download PM Review magazine | News headlines | Browse articles 

July 23, 2014

In the latest issue of PM Review…

Download PDF

Extensive Powder Metallurgy industry news coverage, and the following exclusive deep-dive articles and reports:

  • From powder modification to rejuvenation: Fluidised Bed Reactors in metal powder production and Additive Manufacturing
  • Retech: Enabling the atomisation of reactive and refractory alloys at substantially higher levels of productivity and lower cost
  • Sustainability in Powder Metallurgy: Highlights from the 41st Hagen Symposium
  • Innovations from Japan’s Powder Metallurgy industry: award winners highlight novel automotive and healthcare applications

The latest news from the world of metal powders, delivered to your inbox

Don't miss any new issue of PM Review, and get the latest industry news. Sign up to our weekly newsletter.

Sign up

Join our community

Discover our magazine archive…

The free-to-access PM Review magazine archive offers unparalleled insight into the world of Powder Metallurgy from a commercial and technological perspective through:

  • Reports on visits to leading PM part manufacturers, metal powder manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.


Browse the archive


Looking for PM production equipment, metal powders, R&D support and more?

Discover suppliers of these and more in our
advertisers’ index and buyer’s guide, available in the back of PM Review magazine.

  • Powders & materials
  • Powder process, classification & analysis
  • PM products
  • Atomisers & powder production technology
  • Compaction presses, tooling & ancillaries
  • Sintering equipment & ancillaries
  • Post-processing
  • Consulting & toll sintering
View online
Share via
Copy link