We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Adjusted earnings (excluding $4.46 from non-recurring items) of $1.30 per share beat the Zacks Consensus Estimate by 8.3% and increased 1.6% year over year. Revenues of $5.1 billion surpassed the Zacks Consensus Estimate by 2.5% and improved 10.8% year over year.
It also registered growth of 10%, 10%, 2% and 12% in Europe, North America, Asia and South America, respectively. However, revenues were flat in China.
Signal and Power Solutions’ revenues of $3.7 billion gained 8% year over year and beat our estimate of $3.68 billion. The Advanced Safety and User Experience segment’s revenues were up 20% year over year to $1.5 billion and surpassed our estimate of $1.2 billion.
Adjusted operating income was $560 million, up 6.6% from the year-ago figure. This compares favorably with our expectation of $496.2 million.
Adjusted operating income margin was 11% compared with 11.4% in the prior year. Our projection was 10.1%.
Aptiv exited the quarter with a cash and cash equivalent balance of $1.8 billion compared with the prior quarter’s $1.3 billion. Long-term debt was $6.4 billion compared with $6.5 billion in the previous quarter.
Total available liquidity at third-quarter end was $4.3 billion compared with $3.8 billion at the end of the prior quarter. In the quarter, APTV generated $746 million in cash from operating activities.
2023 Outlook Unchanged
Aptiv expects revenues to be $19.95-$20.25 billion. The midpoint of the guided range ($20.1 billion) is higher than the Zacks Consensus Estimate of $20.01 billion.
Adjusted EPS is projected to be between $4.60 and $4.90. The midpoint of the guided range ($4.75) is higher than the Zacks Consensus Estimate of $4.72.
Adjusted operating income margin is anticipated to be between 10.4% and 10.7%. Capital expenditure is suggested to be $950 million.
Adjusted EBITDA margin is envisioned to be between 13.8% and 14.1%. Adjusted effective tax rate is forecast to be 12.5%.
Recent Earnings Snapshots of Some Service Providers
The Interpublic Group of Companies, Inc. (IPG - Free Report) posted third-quarter 2023 results, wherein both earnings and revenues missed the Zacks Consensus Estimate.
IPG’s adjusted earnings of 70 cents per share lagged the consensus estimate by 6.7%. The bottom line, however, climbed 11.1% on a year-over-year basis. Net revenues of $2.31 billion fell short of the consensus estimate by 3.3%. In the year-ago quarter, IPG’s net revenues were $2.3 billion. Total revenues of $2.68 billion increased 1.5% year over year.
Equifax Inc. (EFX - Free Report) reported lower-than-expected third-quarter 2023 results. Adjusted earnings (excluding 45 cents from non-recurring items) were $1.76 per share, missing the Zacks Consensus Estimate by 1.1%. Yet, the metric rose 1.7% from a year ago.
EFX’s total revenues of $1.32 billion fell short of the consensus estimate by 0.7%. Nonetheless, the figure gained 6% from a year ago on a reported basis and 6.5% on a local-currency basis.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Aptiv's (APTV) Q3 Earnings Beat Estimates, Increase Y/Y
Aptiv PLC (APTV - Free Report) reported better-than-expected third-quarter 2023 results.
Adjusted earnings (excluding $4.46 from non-recurring items) of $1.30 per share beat the Zacks Consensus Estimate by 8.3% and increased 1.6% year over year. Revenues of $5.1 billion surpassed the Zacks Consensus Estimate by 2.5% and improved 10.8% year over year.
It also registered growth of 10%, 10%, 2% and 12% in Europe, North America, Asia and South America, respectively. However, revenues were flat in China.
Aptiv PLC Price, Consensus and EPS Surprise
Aptiv PLC price-consensus-eps-surprise-chart | Aptiv PLC Quote
Other Quarterly Numbers
Signal and Power Solutions’ revenues of $3.7 billion gained 8% year over year and beat our estimate of $3.68 billion. The Advanced Safety and User Experience segment’s revenues were up 20% year over year to $1.5 billion and surpassed our estimate of $1.2 billion.
Adjusted operating income was $560 million, up 6.6% from the year-ago figure. This compares favorably with our expectation of $496.2 million.
Adjusted operating income margin was 11% compared with 11.4% in the prior year. Our projection was 10.1%.
Aptiv exited the quarter with a cash and cash equivalent balance of $1.8 billion compared with the prior quarter’s $1.3 billion. Long-term debt was $6.4 billion compared with $6.5 billion in the previous quarter.
Total available liquidity at third-quarter end was $4.3 billion compared with $3.8 billion at the end of the prior quarter. In the quarter, APTV generated $746 million in cash from operating activities.
2023 Outlook Unchanged
Aptiv expects revenues to be $19.95-$20.25 billion. The midpoint of the guided range ($20.1 billion) is higher than the Zacks Consensus Estimate of $20.01 billion.
Adjusted EPS is projected to be between $4.60 and $4.90. The midpoint of the guided range ($4.75) is higher than the Zacks Consensus Estimate of $4.72.
Adjusted operating income margin is anticipated to be between 10.4% and 10.7%. Capital expenditure is suggested to be $950 million.
Adjusted EBITDA margin is envisioned to be between 13.8% and 14.1%. Adjusted effective tax rate is forecast to be 12.5%.
Currently, Aptiv carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Earnings Snapshots of Some Service Providers
The Interpublic Group of Companies, Inc. (IPG - Free Report) posted third-quarter 2023 results, wherein both earnings and revenues missed the Zacks Consensus Estimate.
IPG’s adjusted earnings of 70 cents per share lagged the consensus estimate by 6.7%. The bottom line, however, climbed 11.1% on a year-over-year basis. Net revenues of $2.31 billion fell short of the consensus estimate by 3.3%. In the year-ago quarter, IPG’s net revenues were $2.3 billion. Total revenues of $2.68 billion increased 1.5% year over year.
Equifax Inc. (EFX - Free Report) reported lower-than-expected third-quarter 2023 results. Adjusted earnings (excluding 45 cents from non-recurring items) were $1.76 per share, missing the Zacks Consensus Estimate by 1.1%. Yet, the metric rose 1.7% from a year ago.
EFX’s total revenues of $1.32 billion fell short of the consensus estimate by 0.7%. Nonetheless, the figure gained 6% from a year ago on a reported basis and 6.5% on a local-currency basis.