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Aptiv PLC - Stock Quote APTV

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Morningstar's Aptiv PLC Stock Analysis

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Aptiv's Q1 Results Hit by Several Headwinds, Maintaining 2022 Guidance; Raising FVE to $141

Richard Hilgert Senior Equity Analyst

Analyst Note

| Richard Hilgert |

Narrow-moat-rated Aptiv reported first-quarter earnings per share before special items, or EPS, of $0.63, $0.02 ahead of the $0.61 FactSet consensus estimate but $0.54 below the $1.17 EPS year-ago result on unpredictable customer production shutdowns from the chip crunch, China COVID-19 lockdowns, the Ukraine crisis, higher raw material costs, and other inflationary cost pressures. Despite the headwinds, first-quarter revenue topped the FactSet consensus by 121 million or 3%, increasing 4% to $4.18 billion from $4.02 billion last year. Organic revenue also edged 4% higher, exceeding a 7% plunge in global light vehicle production weighted to Aptiv’s customer base by 11 percentage points.

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Aptiv PLC's Company Profile

Business Description

Aptiv’s signal and power solutions segment supplies components and systems that make up a vehicle’s electrical system backbone, including wiring assemblies and harnesses, connectors, electrical centers, and hybrid electrical systems. The advanced safety and user experience segment provides body controls, infotainment and connectivity systems, passive and active safety electronics, advanced driver-assist technologies, and displays, as well as the development of software for these systems. Aptiv's largest customer is General Motors at roughly 12% of 2021 revenue, including sales to GM’s Shanghai joint venture, followed by Stellantis at 11%, and Volkswagen at 9%. North America and Europe represented approximately 38% and 33% of total 2019 revenue, respectively.

5 Hanover Quay, Grand Canal Dock
Dublin, D02 VY79, Ireland
T +353 12597013
Sector Consumer Cyclical
Industry Auto Parts
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 155,000

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