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Aptiv's (APTV) Q3 Earnings Miss Estimates, Revenues Beat
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Aptiv PLC (APTV - Free Report) reported mixed third-quarter 2021 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same.
Adjusted earnings of 38 cents per share missed the Zacks Consensus Estimate by 7.3% and declined 66.4% on a year-over-year basis. Revenues of $3.7 billion surpassed the consensus mark by 4.1% but fell marginally year over year.
Aptiv’s shares have surged 69.9% in the past year against 14% loss of the industry it belongs to.
Image Source: Zacks Investment Research
Other Quarterly Numbers
Signal and Power Solutions revenues of $2.7 billion were up 2% year over year. Advanced Safety and User Experience revenues declined 6% year over year to $959 million.
Adjusted operating income came in at $219 million, down 43.7% from adjusted operating income reported in the year-ago quarter. Adjusted operating income margin came in at 6%.
Aptiv exited the third quarter with cash and cash equivalents balance of $2.7 billion compared with the prior quarter’s level of $2.9 billion. Long-term debt was $4 billion, flat with the prior quarter’s figure.
Total available liquidity at the end of the quarter was $5.3 billion compared with $5.5 billion recorded at the end of the prior quarter. Net cash generated from operating activities was $4 million, during the quarter.
Updated 2021 Outlook
The company now expects revenues in the range of $15.1-$15.5 billion (previous expectation: $16.115-$16.415 billion). The midpoint of the guidance ($15.3 billion) is below the current Zacks Consensus Estimate of $15.34 billion.
Adjusted EPS is now expected between $2.30 and $2.80 (previous expectation: $3.63 and $3.87). The midpoint of the guidance ($2.55) is below the current Zacks Consensus Estimate of $2.68.
Adjusted operating income is now anticipated to be between $1.15 billion and $1.3 billion (previous expectation: $1.59 billion and $1.67 billion).
Capital expenditures are now expected to be at $650 million (previous outlook: 750 million).
Adjusted EBITDA margin is now expected to be between 12.8% to 13.5% (previous outlook: 14.8% to 15%).
Adjusted effective tax rate is still expected to be 12%.
Performance of Some Other Business Services Companies
Equifax’s (EFX - Free Report) third-quarter 2021 adjusted earnings of $1.85 per share beat the Zacks Consensus Estimate by 7.6%. The bottom line declined on a year-over-year basis. Revenues of $1.22 billion outpaced the consensus estimate by 3.6%. The top line increased 14.5% year over year on a reported basis and 14% on a local-currency basis.
IQVIA’s (IQV - Free Report) third-quarter 2021 adjusted earnings per share of $2.17 beat the consensus mark by 1.9% and rose 33.1% on a year-over-year basis. Total revenues of $3.39 billion outpaced the consensus estimate by 1%. The top line increased 21.7% year over year on a reported basis and 21.1% on a constant-currency basis.
Omnicom’s (OMC - Free Report) third-quarter 2021 adjusted earnings of $1.65 per share beat the consensus mark by 20.4% and increased 36.4% year over year. Total revenues of $3.4 billion surpassed the consensus estimate by 0.6% and increased 7.1% year over year.
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Aptiv's (APTV) Q3 Earnings Miss Estimates, Revenues Beat
Aptiv PLC (APTV - Free Report) reported mixed third-quarter 2021 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same.
Adjusted earnings of 38 cents per share missed the Zacks Consensus Estimate by 7.3% and declined 66.4% on a year-over-year basis. Revenues of $3.7 billion surpassed the consensus mark by 4.1% but fell marginally year over year.
Aptiv’s shares have surged 69.9% in the past year against 14% loss of the industry it belongs to.
Other Quarterly Numbers
Signal and Power Solutions revenues of $2.7 billion were up 2% year over year. Advanced Safety and User Experience revenues declined 6% year over year to $959 million.
Adjusted operating income came in at $219 million, down 43.7% from adjusted operating income reported in the year-ago quarter. Adjusted operating income margin came in at 6%.
Aptiv exited the third quarter with cash and cash equivalents balance of $2.7 billion compared with the prior quarter’s level of $2.9 billion. Long-term debt was $4 billion, flat with the prior quarter’s figure.
Total available liquidity at the end of the quarter was $5.3 billion compared with $5.5 billion recorded at the end of the prior quarter. Net cash generated from operating activities was $4 million, during the quarter.
Updated 2021 Outlook
The company now expects revenues in the range of $15.1-$15.5 billion (previous expectation: $16.115-$16.415 billion). The midpoint of the guidance ($15.3 billion) is below the current Zacks Consensus Estimate of $15.34 billion.
Adjusted EPS is now expected between $2.30 and $2.80 (previous expectation: $3.63 and $3.87). The midpoint of the guidance ($2.55) is below the current Zacks Consensus Estimate of $2.68.
Adjusted operating income is now anticipated to be between $1.15 billion and $1.3 billion (previous expectation: $1.59 billion and $1.67 billion).
Capital expenditures are now expected to be at $650 million (previous outlook: 750 million).
Adjusted EBITDA margin is now expected to be between 12.8% to 13.5% (previous outlook: 14.8% to 15%).
Adjusted effective tax rate is still expected to be 12%.
Currently, Aptiv carries a Zacks Rank 4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Aptiv PLC Price, Consensus and EPS Surprise
Aptiv PLC price-consensus-eps-surprise-chart | Aptiv PLC Quote
Performance of Some Other Business Services Companies
Equifax’s (EFX - Free Report) third-quarter 2021 adjusted earnings of $1.85 per share beat the Zacks Consensus Estimate by 7.6%. The bottom line declined on a year-over-year basis. Revenues of $1.22 billion outpaced the consensus estimate by 3.6%. The top line increased 14.5% year over year on a reported basis and 14% on a local-currency basis.
IQVIA’s (IQV - Free Report) third-quarter 2021 adjusted earnings per share of $2.17 beat the consensus mark by 1.9% and rose 33.1% on a year-over-year basis. Total revenues of $3.39 billion outpaced the consensus estimate by 1%. The top line increased 21.7% year over year on a reported basis and 21.1% on a constant-currency basis.
Omnicom’s (OMC - Free Report) third-quarter 2021 adjusted earnings of $1.65 per share beat the consensus mark by 20.4% and increased 36.4% year over year. Total revenues of $3.4 billion surpassed the consensus estimate by 0.6% and increased 7.1% year over year.