Aptiv PLC (APTV - Free Report) reported better-than-expected third-quarter 2020 results.
Adjusted earnings of $1.13 per share beat the Zacks Consensus Estimate by 43% but declined 11% year over year. Revenues of $3.7 billion surpassed the consensus estimate by 9.5% and increased 3.1% year over year despite global vehicle production decline of 4%.
Notably, Aptiv’s shares declined 1.5% year to date, compared with 6.3% decline of the industry it belongs to.
Other Quarterly Numbers
Signal and Power Solutions revenues of $2.66 billion were up 3% year over year. Advanced Safety and User Experience revenues increased 4% year over year to $1.02 billion.
Adjusted operating income came in at $389 million, down from $410 million in the year-ago quarter. Adjusted operating income margin was 10.6%, down from 11.5% in the year-ago quarter.
Aptiv exited the quarter with cash and cash equivalents balance of $2.1 billion compared with the prior quarter’s $1.9 million. Long-term debt was $3.9 billion, flat with the previous-quarter figure.
Total available liquidity at the end of the second quarter was $4.5 billion compared with the $4.1 billion recorded at the end of the prior quarter. Net cash generated from operating activities was $559 million.
2020 Outlook
Aptiv expects revenues in the range of $12.54 billion to $12.69 billion, higher than the Zacks Consensus Estimate of $12.1 billion. Adjusted EPS is expected between $1.65 and $1.8, higher than the Zacks Consensus Estimate of $1.31.
Adjusted operating income is anticipated between $775 million and $825 million. Effective tax rate is expected to be in the range of 10% to 11%.
Currently, Aptiv carries a Zacks Rank 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Business Services Companies
Equifax Inc. (EFX - Free Report) reported third-quarter 2020 adjusted earnings of $1.87 per share that beat the Zacks Consensus Estimate by 16.2% and improved 26.4% on a year-over-year basis. Revenues of $1.07 billion outpaced the consensus estimate by 5.9% and improved 22% year over year.
ManpowerGroup Inc. (MAN - Free Report) reported third-quarter 2020 earnings of $1.12 per share, beating the consensus mark by 90.5% but declining more than 37.5% year over year. Revenues of $4.58 billion surpassed the consensus mark by 8.7% but declined 12.7% year over year.
IHS Markit Ltd. recorded third-quarter fiscal 2020 adjusted earnings per share of 77 cents that surpassed the consensus estimate by 11.6% and increased 15% on a year-over-year basis. Total revenues came in at $1.07 billion, marginally surpassing the consensus mark but declining 4% from the year-ago quarter.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Aptiv PLC (APTV - Free Report) reported better-than-expected third-quarter 2020 results.
Adjusted earnings of $1.13 per share beat the Zacks Consensus Estimate by 43% but declined 11% year over year. Revenues of $3.7 billion surpassed the consensus estimate by 9.5% and increased 3.1% year over year despite global vehicle production decline of 4%.
Notably, Aptiv’s shares declined 1.5% year to date, compared with 6.3% decline of the industry it belongs to.
Other Quarterly Numbers
Signal and Power Solutions revenues of $2.66 billion were up 3% year over year. Advanced Safety and User Experience revenues increased 4% year over year to $1.02 billion.
Adjusted operating income came in at $389 million, down from $410 million in the year-ago quarter. Adjusted operating income margin was 10.6%, down from 11.5% in the year-ago quarter.
Aptiv exited the quarter with cash and cash equivalents balance of $2.1 billion compared with the prior quarter’s $1.9 million. Long-term debt was $3.9 billion, flat with the previous-quarter figure.
Total available liquidity at the end of the second quarter was $4.5 billion compared with the $4.1 billion recorded at the end of the prior quarter. Net cash generated from operating activities was $559 million.
2020 Outlook
Aptiv expects revenues in the range of $12.54 billion to $12.69 billion, higher than the Zacks Consensus Estimate of $12.1 billion. Adjusted EPS is expected between $1.65 and $1.8, higher than the Zacks Consensus Estimate of $1.31.
Adjusted operating income is anticipated between $775 million and $825 million. Effective tax rate is expected to be in the range of 10% to 11%.
Currently, Aptiv carries a Zacks Rank 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Business Services Companies
Equifax Inc. (EFX - Free Report) reported third-quarter 2020 adjusted earnings of $1.87 per share that beat the Zacks Consensus Estimate by 16.2% and improved 26.4% on a year-over-year basis. Revenues of $1.07 billion outpaced the consensus estimate by 5.9% and improved 22% year over year.
ManpowerGroup Inc. (MAN - Free Report) reported third-quarter 2020 earnings of $1.12 per share, beating the consensus mark by 90.5% but declining more than 37.5% year over year. Revenues of $4.58 billion surpassed the consensus mark by 8.7% but declined 12.7% year over year.
IHS Markit Ltd. recorded third-quarter fiscal 2020 adjusted earnings per share of 77 cents that surpassed the consensus estimate by 11.6% and increased 15% on a year-over-year basis. Total revenues came in at $1.07 billion, marginally surpassing the consensus mark but declining 4% from the year-ago quarter.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on MAN - FREE
Get the latest research report on EFX - FREE
Get the latest research report on APTV - FREE