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Aptiv (APTV) Incurs Q2 Loss Amid Coronavirus Crisis, Cancels View
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Aptiv PLC (APTV - Free Report) reported second-quarter 2020 adjusted loss of $1.1 per share. In the year-ago quarter, the company had generated earnings of $1.33 per share. The reported figure is narrower than the Zacks Consensus Estimate of a loss of $1.43 per share. Revenues of $1.96 billion marginally missed the consensus estimate and plunged 46% year over year.
Aptiv’s performance in the quarter was thwarted by global vehicle-production decline, work stoppages and supply-chain disruptions due to the coronavirus crisis. The company has withdrawn its third-quarter and full-year 2020 financial guidance.
Adjusted operating loss was $229 million in the quarter. In the year-ago quarter, the company had reported adjusted operating income of $405 million.
Aptiv exited the quarter with cash and cash equivalents balance of $1.9 billion compared with the prior quarter’s $2.1 million. Long-term debt was $3.9 billion compared with the $6 billion witnessed in the previous quarter.
Total available liquidity at the end of the second quarter was $4.1 billion compared with the $2.2 billion recorded at the end of the prior quarter. Net cash used in operating activities was $106 million.
Equifax (EFX - Free Report) reported better-than-expected second-quarter 2020 adjusted earnings of $1.60 per share, which beat the Zacks Consensus Estimate by 22.1% and improved 14.3% on a year-over-year basis. The reported figure exceeded the guided range of 78-88 cents.
IQVIA Holdings (IQV - Free Report) reported second-quarter 2020 adjusted earnings per share of $1.18, which beat the consensus mark by 12.4% but decreased 22.9% on a year-over-year basis. The reported figure exceeds the guided range of $1.00-$1.09.
Robert Half’s (RHI - Free Report) reported second-quarter 2020 earnings of 41 cents per share beat the consensus mark by 17% but were down 58% year over year.
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Aptiv (APTV) Incurs Q2 Loss Amid Coronavirus Crisis, Cancels View
Aptiv PLC (APTV - Free Report) reported second-quarter 2020 adjusted loss of $1.1 per share. In the year-ago quarter, the company had generated earnings of $1.33 per share. The reported figure is narrower than the Zacks Consensus Estimate of a loss of $1.43 per share. Revenues of $1.96 billion marginally missed the consensus estimate and plunged 46% year over year.
Aptiv’s performance in the quarter was thwarted by global vehicle-production decline, work stoppages and supply-chain disruptions due to the coronavirus crisis. The company has withdrawn its third-quarter and full-year 2020 financial guidance.
Aptiv PLC Price, Consensus and EPS Surprise
Aptiv PLC price-consensus-eps-surprise-chart | Aptiv PLC Quote
Other Quarterly Numbers
Adjusted operating loss was $229 million in the quarter. In the year-ago quarter, the company had reported adjusted operating income of $405 million.
Aptiv exited the quarter with cash and cash equivalents balance of $1.9 billion compared with the prior quarter’s $2.1 million. Long-term debt was $3.9 billion compared with the $6 billion witnessed in the previous quarter.
Total available liquidity at the end of the second quarter was $4.1 billion compared with the $2.2 billion recorded at the end of the prior quarter. Net cash used in operating activities was $106 million.
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 (EFX - Free Report) reported better-than-expected second-quarter 2020 adjusted earnings of $1.60 per share, which beat the Zacks Consensus Estimate by 22.1% and improved 14.3% on a year-over-year basis. The reported figure exceeded the guided range of 78-88 cents.
IQVIA Holdings (IQV - Free Report) reported second-quarter 2020 adjusted earnings per share of $1.18, which beat the consensus mark by 12.4% but decreased 22.9% on a year-over-year basis. The reported figure exceeds the guided range of $1.00-$1.09.
Robert Half’s (RHI - Free Report) reported second-quarter 2020 earnings of 41 cents per share beat the consensus mark by 17% but were down 58% year over year.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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