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.
Aptiv PLC (APTV - Free Report) reported mixed fourth-quarter 2023 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Adjusted earnings of $1.4 per share beat the Zacks Consensus Estimate by 8.5% and increased 10.2% year over year. Revenues of $4.9 billion missed the Zacks Consensus Estimate by 0.5% but increased 6% year over year.
The company’s revenues registered 6% growth in Europe and 10% in Asia, including 12% in China. Revenues declined 7% in North America and 6% in South America.
Aptiv‘s shares have declined 23.3% over the past year against the 29.3% rally of the industry it belongs to.
Signal and Power Solutions’ revenues of $3.6 billion improved 6% year over year, in line with our estimate. The Advanced Safety and User Experience segment’s revenues increased 6% year over year to $1.4 billion but lagged our estimate of $1.3 billion.
Adjusted operating income was $600 million, up 14.7% from the figure reported in the year-ago quarter. This compares favorably with our expectation of an adjusted operating income of $597 million.
Adjusted operating income margin was 12.2%, up 90 basis points year over year. This is in line with our expectation.
Aptiv exited the quarter with a cash and cash equivalent balance of $1.6 billion compared with the prior quarter’s $1.8 billion. Long-term debt was $6.2 billion compared with $6.4 billion in the previous quarter.
Total available liquidity at the end of the quarter was $4.1 billion compared with $4.3 billion recorded at the end of the prior quarter. In the quarter, the company generated $624 million in cash from operating activities.
2024 Outlook
Aptiv expects revenues to be $21.3-$21.9 billion, higher than the Zacks Consensus Estimate of $19.31 billion.
Adjusted EPS is expected between $5.55 and $6.05, higher than the Zacks Consensus Estimate of $4.39. Adjusted operating income margin is anticipated between 11.6% and 12%. Capital expenditure is expected to be $1.05 billion.
Adjusted EBITDA margin is expected between 15% and 15.3%. Adjusted effective tax rate is expected to be 17.5%.
Recent Earnings Snapshots of Some Service Providers
Booz Allen Hamilton Holding Corp. (BAH - Free Report) reported better-than-expected third-quarter fiscal 2024 results.
Quarterly adjusted EPS of $1.41 surpassed the Zacks Consensus Estimate by 24.8% and exceeded the year-ago quarter by 31.8%. BAH reported revenues of $2.57 billion, which beat the consensus estimate by 1.5% and increased 12.9% year over year. Revenues, excluding billable expenses, were $1.77 billion, up 13% year over year.
Xerox Holdings Corporation (XRX - Free Report) reported lower-than-expected fourth-quarter 2023 results, wherein earnings and revenues declined from the year-ago quarter.
XRS’s adjusted EPS of 43 cents missed the Zacks Consensus Estimate by 15.7% and decreased 51.7% year over year. Total revenues of $1.77 billion lagged the consensus mark by 1.6% and decreased 9.1% year over year on a reported basis. Revenues declined 7.4% on a constant-currency basis.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Aptiv's (APTV) Q4 Earnings Beat Estimates, Increase Y/Y
Aptiv PLC (APTV - Free Report) reported mixed fourth-quarter 2023 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Adjusted earnings of $1.4 per share beat the Zacks Consensus Estimate by 8.5% and increased 10.2% year over year. Revenues of $4.9 billion missed the Zacks Consensus Estimate by 0.5% but increased 6% year over year.
The company’s revenues registered 6% growth in Europe and 10% in Asia, including 12% in China. Revenues declined 7% in North America and 6% in South America.
Aptiv‘s shares have declined 23.3% over the past year against the 29.3% rally of the industry it belongs to.
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 $3.6 billion improved 6% year over year, in line with our estimate. The Advanced Safety and User Experience segment’s revenues increased 6% year over year to $1.4 billion but lagged our estimate of $1.3 billion.
Adjusted operating income was $600 million, up 14.7% from the figure reported in the year-ago quarter. This compares favorably with our expectation of an adjusted operating income of $597 million.
Adjusted operating income margin was 12.2%, up 90 basis points year over year. This is in line with our expectation.
Aptiv exited the quarter with a cash and cash equivalent balance of $1.6 billion compared with the prior quarter’s $1.8 billion. Long-term debt was $6.2 billion compared with $6.4 billion in the previous quarter.
Total available liquidity at the end of the quarter was $4.1 billion compared with $4.3 billion recorded at the end of the prior quarter. In the quarter, the company generated $624 million in cash from operating activities.
2024 Outlook
Aptiv expects revenues to be $21.3-$21.9 billion, higher than the Zacks Consensus Estimate of $19.31 billion.
Adjusted EPS is expected between $5.55 and $6.05, higher than the Zacks Consensus Estimate of $4.39. Adjusted operating income margin is anticipated between 11.6% and 12%. Capital expenditure is expected to be $1.05 billion.
Adjusted EBITDA margin is expected between 15% and 15.3%. Adjusted effective tax rate is expected to be 17.5%.
Currently, Aptiv carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Earnings Snapshots of Some Service Providers
Booz Allen Hamilton Holding Corp. (BAH - Free Report) reported better-than-expected third-quarter fiscal 2024 results.
Quarterly adjusted EPS of $1.41 surpassed the Zacks Consensus Estimate by 24.8% and exceeded the year-ago quarter by 31.8%. BAH reported revenues of $2.57 billion, which beat the consensus estimate by 1.5% and increased 12.9% year over year. Revenues, excluding billable expenses, were $1.77 billion, up 13% year over year.
Xerox Holdings Corporation (XRX - Free Report) reported lower-than-expected fourth-quarter 2023 results, wherein earnings and revenues declined from the year-ago quarter.
XRS’s adjusted EPS of 43 cents missed the Zacks Consensus Estimate by 15.7% and decreased 51.7% year over year. Total revenues of $1.77 billion lagged the consensus mark by 1.6% and decreased 9.1% year over year on a reported basis. Revenues declined 7.4% on a constant-currency basis.