Aptiv Reports Third Quarter 2024 Financial Results
Aptiv PLC (NYSE: APTV) reported third quarter 2024 financial results with U.S. GAAP revenue of $4.9 billion, down 5% year-over-year. The company achieved record adjusted earnings per share of $1.83, with U.S. GAAP net income of $363 million and a 7.5% net income margin. Operating performance remained strong with Adjusted Operating Income of $593 million and a 12.2% margin.
The company generated $499 million in operating cash flow and returned $2.32 billion to shareholders through share repurchases. However, Aptiv revised its financial outlook due to customer schedule reductions and weakness in automotive production volumes. Regional revenue declined across all markets, with North America down 7%, Europe 6%, Asia 4%, and South America 12%.
Aptiv PLC (NYSE: APTV) ha riportato i risultati finanziari del terzo trimestre del 2024, con ricavi secondo i principi contabili GAAP americani di 4,9 miliardi di dollari, in calo del 5% rispetto all'anno precedente. L'azienda ha raggiunto un record di utili per azione rettificati di 1,83 dollari, con un reddito netto GAAP di 363 milioni di dollari e un margine di reddito netto del 7,5%. Le prestazioni operative sono rimaste solide con un reddito operativo rettificato di 593 milioni di dollari e un margine del 12,2%.
L'azienda ha generato 499 milioni di dollari di flusso di cassa operativo e ha restituito 2,32 miliardi di dollari agli azionisti tramite riacquisti di azioni. Tuttavia, Aptiv ha rivisto le sue previsioni finanziarie a causa delle riduzioni nei programmi dei clienti e della debolezza nei volumi di produzione automobilistica. I ricavi regionali sono diminuiti in tutti i mercati, con il Nord America che ha registrato un calo del 7%, l'Europa del 6%, l'Asia del 4% e il Sud America del 12%.
Aptiv PLC (NYSE: APTV) reportó los resultados financieros del tercer trimestre de 2024, con ingresos bajo los principios contables GAAP de EE. UU. de 4.9 mil millones de dólares, una disminución del 5% en comparación al año anterior. La compañía logró un récord de ganancias por acción ajustadas de 1.83 dólares, con un ingreso neto GAAP de 363 millones de dólares y un margen de ingreso neto del 7.5%. El desempeño operativo se mantuvo sólido, con un ingreso operativo ajustado de 593 millones de dólares y un margen del 12.2%.
La empresa generó 499 millones de dólares en flujo de caja operativo y devolvió 2.32 mil millones de dólares a los accionistas a través de recompra de acciones. Sin embargo, Aptiv revisó sus expectativas financieras debido a reducciones en los cronogramas de los clientes y debilidades en los volúmenes de producción automotriz. Los ingresos regionales disminuyeron en todos los mercados, con América del Norte cayendo un 7%, Europa un 6%, Asia un 4% y América del Sur un 12%.
Aptiv PLC (NYSE: APTV)는 2024년 3분기 재무 결과를 보고하며, 미국 GAAP 기준으로 49억 달러의 수익을 기록했으며, 이는 전년 대비 5% 감소한 수치입니다. 회사는 주당 조정된 수익을 1.83달러로 기록하며, 미국 GAAP 기준으로 3억 6300만 달러의 순이익과 7.5%의 순이익 마진을 달성했습니다. 운영 성과는 여전히 강력하여 조정된 운영 소득은 5억 9300만 달러, 마진은 12.2%에 달합니다.
회사는 4억 9900만 달러의 운영 캐시 플로우를 창출했으며, 주식 매입을 통해 23억 2000만 달러를 주주들에게 반환했습니다. 그러나 Aptiv는 고객 일정 축소와 자동차 생산량 감소로 인해 재무 전망을 조정했습니다. 북미 지역은 7%, 유럽은 6%, 아시아는 4%, 남미는 12% 감소하며 모든 시장에서 지역 수익이 감소했습니다.
Aptiv PLC (NYSE: APTV) a annoncé les résultats financiers du troisième trimestre 2024, avec un chiffre d'affaires conforme aux GAAP américains de 4,9 milliards de dollars, en baisse de 5 % par rapport à l'année précédente. L'entreprise a atteint un record de bénéfice ajusté par action de 1,83 dollars, avec un bénéfice net GAAP de 363 millions de dollars et une marge de bénéfice net de 7,5 %. La performance opérationnelle est restée solide avec un revenu opérationnel ajusté de 593 millions de dollars et une marge de 12,2 %.
L'entreprise a généré un flux de trésorerie opérationnel de 499 millions de dollars et a restitué 2,32 milliards de dollars aux actionnaires par le biais de rachats d'actions. Cependant, Aptiv a révisé ses prévisions financières en raison de réductions dans les plannings des clients et de la faiblesse des volumes de production automobile. Les revenus régionaux ont diminué dans tous les marchés, avec une baisse de 7 % en Amérique du Nord, de 6 % en Europe, de 4 % en Asie et de 12 % en Amérique du Sud.
Aptiv PLC (NYSE: APTV) hat die finanziellen Ergebnisse für das dritte Quartal 2024 veröffentlicht, mit einem Umsatz nach US-GAAP von 4,9 Milliarden US-Dollar, was einem Rückgang von 5 % im Vergleich zum Vorjahr entspricht. Das Unternehmen erzielte einen Rekord von 1,83 US-Dollar an bereinigtem Ergebnis pro Aktie, mit einem GAAP-Nettoeinkommen von 363 Millionen US-Dollar und einer Nettomarge von 7,5 %. Die operative Leistung blieb stark mit einem bereinigten operativen Einkommen von 593 Millionen US-Dollar und einer Marge von 12,2 %.
Das Unternehmen generierte 499 Millionen US-Dollar an operativem Cashflow und gab 2,32 Milliarden US-Dollar an die Aktionäre durch Aktienrückkäufe zurück. Allerdings hat Aptiv seine finanziellen Aussichten aufgrund von Reduzierungen im Kundenprogramm und Schwächen in den Automobilproduktionsvolumen überarbeitet. Der regionale Umsatz sank in allen Märkten, wobei Nordamerika um 7 %, Europa um 6 %, Asien um 4 % und Südamerika um 12 % fiel.
- Record adjusted earnings per share of $1.83, up from $1.30 in prior year
- Improved Adjusted Operating Income margin of 12.2% vs 11.0% prior year
- Strong cash flow generation of $499 million from operations
- Significant shareholder returns of $2.32 billion through share repurchases
- Increased Adjusted EBITDA margin to 16.0%
- Revenue decreased 5% to $4.9 billion
- Decline in all regional markets: North America (-7%), Europe (-6%), Asia (-4%), South America (-12%)
- Downward revision of financial outlook due to customer schedule reductions
- Interest expense increased to $101 million from $75 million prior year
Insights
Aptiv's Q3 results show mixed performance with some concerning trends. While achieving record adjusted EPS of
The bright spot is margin improvement, with adjusted operating margin reaching
The automotive supplier sector faces significant near-term challenges, reflected in Aptiv's regional performance declines. The company's exposure to key megatrends (safety, electrification, connectivity) remains strategically sound, but execution is becoming more challenging amid weakening demand. The
Notable is the aggressive share repurchase program, with
Record Adjusted Earnings Per Share Reflecting Strong Operating Performance
Third Quarter Financial Highlights Include:
-
U.S. GAAP revenue of , a decrease of$4.9 billion 5% -
Revenue decreased
6% adjusted for currency exchange and commodity movements, compared to AWM1 of (5)%
-
Revenue decreased
-
U.S. GAAP net income of ,$363 million U.S. GAAP net income margin of7.5% ;U.S. GAAP diluted earnings per share of$1.48 -
Excluding special items, diluted earnings per share of
$1.83
-
Excluding special items, diluted earnings per share of
-
U.S. GAAP operating income of ,$503 million U.S. GAAP operating income margin of10.4% -
Adjusted Operating Income of
, Adjusted Operating Income margin of$593 million 12.2% ; Adjusted EBITDA of , Adjusted EBITDA margin of$778 million 16.0%
-
Adjusted Operating Income of
-
Generated
of cash from operations$499 million -
Returned
to shareholders through share repurchases, including$2.32 billion under the$2.25 billion Accelerated Share Repurchase Program$3.0 billion
Year-to-Date Financial Highlights Include:
-
U.S. GAAP revenue of , a decrease of$14.8 billion 2% -
Revenue decreased
2% adjusted for currency exchange and commodity movements, compared to AWM1 of (2)%
-
Revenue decreased
-
U.S. GAAP net income of ,$1,519 million U.S. GAAP net income margin of10.3% ;U.S. GAAP diluted earnings per share of$5.76 -
Excluding special items, diluted earnings per share of
$4.53
-
Excluding special items, diluted earnings per share of
-
U.S. GAAP operating income of ,$1,363 million U.S. GAAP operating income margin of9.2% -
Adjusted Operating Income of
, Adjusted Operating Income margin of$1,743 million 11.8% ; Adjusted EBITDA of , Adjusted EBITDA margin of$2,286 million 15.4%
-
Adjusted Operating Income of
-
Generated
of cash from operations$1,386 million -
Returned
to shareholders through share repurchases$3.35 billion
“Aptiv delivered record adjusted earnings per share this quarter, reflecting strong operating results and benefits from our recent capital allocation actions,” said Kevin Clark, chairman and chief executive officer. “Our industry-leading solutions, global capabilities and relentless focus on operational excellence continue to demonstrate our resiliency while also delivering record third quarter profitability. Our revised financial outlook reflects the impact of incremental customer schedule reductions and broader weakness in automotive production volumes. Despite near-term headwinds, we are confident in the long-term megatrends of safe, green and connected, and we are well-positioned to support our customers in this transition, while maximizing value to shareholders.”
1 |
Represents global vehicle production weighted to the geographic regions in which the Company generates its revenue (“AWM”). |
Third Quarter 2024 Results
For the three months ended September 30, 2024, the Company reported
The Company reported third quarter 2024 U.S. GAAP net income of
Third quarter
Interest expense for the third quarter totaled
Tax expense in the third quarter of 2024 was
The Company generated net cash flow from operating activities of
Year-to-Date 2024 Results
For the nine months ended September 30, 2024, the Company reported
For the 2024 year-to-date period, the Company reported
The Company reported
Interest expense for the nine months ended September 30, 2024 totaled
Tax expense for the nine months ended September 30, 2024 was
The Company generated net cash flow from operating activities of
Reconciliations of Adjusted Revenue Growth, Adjusted Net Income, Adjusted Net Income Per Share, Adjusted Operating Income, Adjusted EBITDA and Cash Flow Before Financing, which are non-GAAP measures, to the most directly comparable financial measures, respectively, calculated and presented in accordance with accounting principles generally accepted in
Share Repurchase Program
During the third quarter of 2024, the Company repurchased 31.7 million shares for
Full Year 2024 Outlook
The Company’s full year 2024 financial guidance is as follows:
(in millions, except per share amounts) |
Full Year 2024 |
Net sales |
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
|
Adjusted EBITDA margin |
|
Adjusted operating income |
|
Adjusted operating income margin |
|
|
|
Adjusted net income per share (1) |
|
Cash flow from operations |
|
Capital expenditures |
|
|
~ |
Adjusted effective tax rate |
~ |
(1) The Company’s full year 2024 financial guidance includes approximately |
Conference Call and Webcast
The Company will host a conference call to discuss these results at 8:00 a.m. (ET) today, which is accessible by dialing +1.800.239.9838 (
Use of Non-GAAP Financial Information
This press release contains information about Aptiv’s financial results which are not presented in accordance with GAAP. Specifically, Adjusted Revenue Growth, Adjusted Operating Income, Adjusted EBITDA, Adjusted Net Income, Adjusted Net Income Per Share and Cash Flow Before Financing are non-GAAP financial measures. Adjusted Revenue Growth represents the year-over-year change in reported net sales relative to the comparable period, excluding the impact on net sales from currency exchange, commodity movements, acquisitions, divestitures and other transactions. Adjusted Operating Income represents net income before interest expense, other income (expense), net, income tax (expense) benefit, equity income (loss), net of tax, amortization, restructuring, other acquisition and portfolio project costs (which includes costs incurred to integrate acquired businesses and to plan and execute product portfolio transformation actions, including business and product acquisitions and divestitures), asset impairments and other related charges, compensation expense related to acquisitions and gains (losses) on business divestitures and other transactions. Adjusted Operating Income margin is defined as Adjusted Operating Income as a percentage of net sales. Adjusted EBITDA represents net income before depreciation and amortization (including asset impairments), interest expense, income tax (expense) benefit, other income (expense), net, equity income (loss), net of tax, restructuring and other special items.
Adjusted Net Income represents net income attributable to Aptiv before amortization, restructuring and other special items, including the tax impact thereon. Adjusted Net Income Per Share represents Adjusted Net Income divided by the Weighted Average Number of Diluted Shares Outstanding for the period. Cash Flow Before Financing represents cash provided by (used in) operating activities plus cash provided by (used in) investing activities, adjusted for the purchase price of business acquisitions and other transactions, the cost of significant technology investments and net proceeds from the divestiture of discontinued operations and other significant businesses.
Management believes the non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the Company’s financial position, results of operations and liquidity. In particular, management believes Adjusted Revenue Growth, Adjusted Operating Income, Adjusted EBITDA, Adjusted Net Income, Adjusted Net Income Per Share and Cash Flow Before Financing are useful measures in assessing the Company’s ongoing financial performance that, when reconciled to the corresponding GAAP measure, provide improved comparability between periods through the exclusion of certain items that management believes are not indicative of the Company’s core operating performance and that may obscure underlying business results and trends. Management also uses these non-GAAP financial measures for internal planning and forecasting purposes.
Such non-GAAP financial measures are reconciled to the most directly comparable GAAP financial measures in the attached supplemental schedules at the end of this press release. Non-GAAP measures should not be considered in isolation or as a substitute for our reported results prepared in accordance with GAAP and, as calculated, may not be comparable to other similarly titled measures of other companies.
About Aptiv
Aptiv is a global technology company focused on making the world safer, greener and more connected. Visit aptiv.com.
Forward-Looking Statements
This press release, as well as other statements made by Aptiv PLC (the “Company”), contain forward-looking statements that reflect, when made, the Company’s current views with respect to current events, certain investments and acquisitions and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company’s operations and business environment, which may cause the actual results of the Company to be materially different from any future results. All statements that address future operating, financial or business performance or the Company’s strategies or expectations are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: global and regional economic conditions, including conditions affecting the credit market; global inflationary pressures; uncertainties created by the conflict between
APTIV PLC CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) |
|||||||||||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
(in millions, except per share amounts) |
||||||||||||||
Net sales |
$ |
4,854 |
|
|
$ |
5,114 |
|
|
$ |
14,806 |
|
|
$ |
15,132 |
|
Operating expenses: |
|
|
|
|
|
|
|
||||||||
Cost of sales |
|
3,951 |
|
|
|
4,221 |
|
|
|
12,057 |
|
|
|
12,615 |
|
Selling, general and administrative |
|
331 |
|
|
|
360 |
|
|
|
1,102 |
|
|
|
1,055 |
|
Amortization |
|
53 |
|
|
|
59 |
|
|
|
159 |
|
|
|
177 |
|
Restructuring |
|
16 |
|
|
|
28 |
|
|
|
125 |
|
|
|
81 |
|
Total operating expenses |
|
4,351 |
|
|
|
4,668 |
|
|
|
13,443 |
|
|
|
13,928 |
|
Operating income |
|
503 |
|
|
|
446 |
|
|
|
1,363 |
|
|
|
1,204 |
|
Interest expense |
|
(101 |
) |
|
|
(75 |
) |
|
|
(230 |
) |
|
|
(214 |
) |
Other income, net |
|
5 |
|
|
|
26 |
|
|
|
30 |
|
|
|
36 |
|
Gain on Motional transactions |
|
— |
|
|
|
— |
|
|
|
641 |
|
|
|
— |
|
Income before income taxes and equity loss |
|
407 |
|
|
|
397 |
|
|
|
1,804 |
|
|
|
1,026 |
|
Income tax (expense) benefit |
|
(32 |
) |
|
|
1,312 |
|
|
|
(159 |
) |
|
|
1,248 |
|
Income before equity loss |
|
375 |
|
|
|
1,709 |
|
|
|
1,645 |
|
|
|
2,274 |
|
Equity loss, net of tax |
|
(7 |
) |
|
|
(72 |
) |
|
|
(110 |
) |
|
|
(227 |
) |
Net income |
|
368 |
|
|
|
1,637 |
|
|
|
1,535 |
|
|
|
2,047 |
|
Net income attributable to noncontrolling interest |
|
7 |
|
|
|
8 |
|
|
|
18 |
|
|
|
15 |
|
Net loss attributable to redeemable noncontrolling interest |
|
(2 |
) |
|
|
— |
|
|
|
(2 |
) |
|
|
(1 |
) |
Net income attributable to Aptiv |
|
363 |
|
|
|
1,629 |
|
|
|
1,519 |
|
|
|
2,033 |
|
Mandatory convertible preferred share dividends |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(29 |
) |
Net income attributable to ordinary shareholders |
$ |
363 |
|
|
$ |
1,629 |
|
|
$ |
1,519 |
|
|
$ |
2,004 |
|
|
|
|
|
|
|
|
|
||||||||
Diluted net income per share: |
|
|
|
|
|
|
|
||||||||
Diluted net income per share attributable to ordinary shareholders |
$ |
1.48 |
|
|
$ |
5.76 |
|
|
$ |
5.76 |
|
|
$ |
7.17 |
|
Weighted average number of diluted shares outstanding |
|
245.78 |
|
|
|
283.01 |
|
|
|
263.77 |
|
|
|
283.44 |
|
APTIV PLC CONDENSED CONSOLIDATED BALANCE SHEETS |
|||||
|
September 30,
|
|
December 31,
|
||
|
(Unaudited) |
|
|||
|
(in millions) |
||||
ASSETS |
|
|
|
||
Current assets: |
|
|
|
||
Cash and cash equivalents |
$ |
1,054 |
|
$ |
1,640 |
Short-term investments |
|
791 |
|
|
— |
Accounts receivable, net |
|
3,653 |
|
|
3,546 |
Inventories |
|
2,550 |
|
|
2,365 |
Other current assets |
|
640 |
|
|
696 |
Total current assets |
|
8,688 |
|
|
8,247 |
Long-term assets: |
|
|
|
||
Property, net |
|
3,797 |
|
|
3,785 |
Operating lease right-of-use assets |
|
499 |
|
|
540 |
Investments in affiliates |
|
1,503 |
|
|
1,443 |
Intangible assets, net |
|
2,235 |
|
|
2,399 |
Goodwill |
|
5,170 |
|
|
5,151 |
Other long-term assets |
|
2,874 |
|
|
2,862 |
Total long-term assets |
|
16,078 |
|
|
16,180 |
Total assets |
$ |
24,766 |
|
$ |
24,427 |
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND SHAREHOLDERS’ EQUITY |
|
|
|
||
Current liabilities: |
|
|
|
||
Short-term debt |
$ |
1,257 |
|
$ |
9 |
Accounts payable |
|
2,989 |
|
|
3,151 |
Accrued liabilities |
|
1,558 |
|
|
1,648 |
Total current liabilities |
|
5,804 |
|
|
4,808 |
Long-term liabilities: |
|
|
|
||
Long-term debt |
|
8,283 |
|
|
6,204 |
Pension benefit obligations |
|
413 |
|
|
417 |
Long-term operating lease liabilities |
|
421 |
|
|
453 |
Other long-term liabilities |
|
647 |
|
|
701 |
Total long-term liabilities |
|
9,764 |
|
|
7,775 |
Total liabilities |
|
15,568 |
|
|
12,583 |
Commitments and contingencies |
|
|
|
||
Redeemable noncontrolling interest |
|
99 |
|
|
99 |
|
|
|
|
||
Total Aptiv shareholders’ equity |
|
8,882 |
|
|
11,548 |
Noncontrolling interest |
|
217 |
|
|
197 |
Total shareholders’ equity |
|
9,099 |
|
|
11,745 |
Total liabilities, redeemable noncontrolling interest and shareholders’ equity |
$ |
24,766 |
|
$ |
24,427 |
APTIV PLC CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) |
|||||||
|
|||||||
|
Nine Months Ended September 30, |
||||||
|
|
2024 |
|
|
|
2023 |
|
|
(in millions) |
||||||
Cash flows from operating activities: |
|
|
|
||||
Net income |
$ |
1,535 |
|
|
$ |
2,047 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
||||
Depreciation and amortization |
|
719 |
|
|
|
666 |
|
Restructuring expense, net of cash paid |
|
(65 |
) |
|
|
4 |
|
Deferred income taxes |
|
(1 |
) |
|
|
(1,408 |
) |
Loss from equity method investments, net of dividends received |
|
120 |
|
|
|
232 |
|
Loss on extinguishment of debt |
|
12 |
|
|
|
— |
|
Gain on Motional transactions |
|
(641 |
) |
|
|
— |
|
Other, net |
|
136 |
|
|
|
125 |
|
Changes in operating assets and liabilities: |
|
|
|
||||
Accounts receivable, net |
|
(107 |
) |
|
|
(213 |
) |
Inventories |
|
(185 |
) |
|
|
(87 |
) |
Accounts payable |
|
(39 |
) |
|
|
(1 |
) |
Other, net |
|
(77 |
) |
|
|
(73 |
) |
Pension contributions |
|
(21 |
) |
|
|
(20 |
) |
Net cash provided by operating activities |
|
1,386 |
|
|
|
1,272 |
|
Cash flows from investing activities: |
|
|
|
||||
Capital expenditures |
|
(664 |
) |
|
|
(703 |
) |
Proceeds from sale of property |
|
3 |
|
|
|
3 |
|
Proceeds from business divestitures, net of cash sold |
|
— |
|
|
|
(17 |
) |
Cost of business acquisitions and other transactions, net of cash acquired |
|
— |
|
|
|
(83 |
) |
Cost of technology investments |
|
(121 |
) |
|
|
(1 |
) |
Proceeds from the sale of equity method investment |
|
448 |
|
|
|
— |
|
Purchase of short-term investments |
|
(748 |
) |
|
|
— |
|
Settlement of derivatives |
|
(2 |
) |
|
|
6 |
|
Net cash used in investing activities |
|
(1,084 |
) |
|
|
(795 |
) |
Cash flows from financing activities: |
|
|
|
||||
Increase (decrease) in other short and long-term debt, net |
|
1,036 |
|
|
|
(30 |
) |
Repayment of senior notes |
|
(700 |
) |
|
|
— |
|
Proceeds from issuance of senior and junior notes, net of issuance costs |
|
2,920 |
|
|
|
— |
|
Proceeds from bridge loan, net of issuance costs |
|
2,483 |
|
|
|
— |
|
Repayment of bridge loan |
|
(2,500 |
) |
|
|
— |
|
Contingent consideration payments |
|
— |
|
|
|
(10 |
) |
Repurchase of ordinary shares |
|
(4,104 |
) |
|
|
(98 |
) |
Distribution of mandatory convertible preferred share cash dividends |
|
— |
|
|
|
(32 |
) |
Taxes withheld and paid on employees’ restricted share awards |
|
(23 |
) |
|
|
(31 |
) |
Net cash used in financing activities |
|
(888 |
) |
|
|
(201 |
) |
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash |
|
— |
|
|
|
(23 |
) |
(Decrease) increase in cash, cash equivalents and restricted cash |
|
(586 |
) |
|
|
253 |
|
Cash, cash equivalents and restricted cash at beginning of the period |
|
1,640 |
|
|
|
1,555 |
|
Cash, cash equivalents and restricted cash at end of the period |
$ |
1,054 |
|
|
$ |
1,808 |
|
|
|
|
|
APTIV PLC FOOTNOTES (Unaudited) |
|||||||||||||||||||||
|
|||||||||||||||||||||
1. Segment Summary |
|||||||||||||||||||||
|
|||||||||||||||||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
% |
|
|
2024 |
|
|
|
2023 |
|
|
% |
||
|
(in millions) |
|
|
|
(in millions) |
|
|
||||||||||||||
Net Sales |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Signal and Power Solutions |
$ |
3,443 |
|
|
$ |
3,687 |
|
|
(7 |
)% |
|
$ |
10,442 |
|
|
$ |
10,830 |
|
|
(4 |
)% |
Advanced Safety and User Experience |
|
1,427 |
|
|
|
1,441 |
|
|
(1 |
)% |
|
|
4,410 |
|
|
|
4,339 |
|
|
2 |
% |
Eliminations and Other (a) |
|
(16 |
) |
|
|
(14 |
) |
|
|
|
|
(46 |
) |
|
|
(37 |
) |
|
|
||
Net Sales |
$ |
4,854 |
|
|
$ |
5,114 |
|
|
|
|
$ |
14,806 |
|
|
$ |
15,132 |
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted Operating Income |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Signal and Power Solutions |
$ |
397 |
|
|
$ |
451 |
|
|
(12 |
)% |
|
$ |
1,222 |
|
|
$ |
1,217 |
|
|
— |
% |
Advanced Safety and User Experience |
|
196 |
|
|
|
109 |
|
|
80 |
% |
|
|
521 |
|
|
|
310 |
|
|
68 |
% |
Adjusted Operating Income |
$ |
593 |
|
|
$ |
560 |
|
|
|
|
$ |
1,743 |
|
|
$ |
1,527 |
|
|
|
(a) |
Eliminations and Other includes the elimination of inter-segment transactions. |
2. Weighted Average Number of Diluted Shares Outstanding |
|||||||||||
The following table illustrates the weighted average shares outstanding used in calculating basic and diluted net income per share attributable to ordinary shareholders for the three and nine months ended September 30, 2024 and 2023: |
|||||||||||
|
|||||||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
|
(in millions, except per share amounts) |
||||||||||
Weighted average ordinary shares outstanding, basic |
|
245.48 |
|
|
282.84 |
|
|
263.55 |
|
|
275.56 |
Dilutive shares related to RSUs |
|
0.30 |
|
|
0.17 |
|
|
0.22 |
|
|
0.13 |
Weighted average MCPS Converted Shares |
|
— |
|
|
— |
|
|
— |
|
|
7.75 |
Weighted average ordinary shares outstanding, including dilutive shares |
|
245.78 |
|
|
283.01 |
|
|
263.77 |
|
|
283.44 |
Net income per share attributable to ordinary shareholders: |
|
|
|
|
|
|
|
||||
Basic |
$ |
1.48 |
|
$ |
5.76 |
|
$ |
5.76 |
|
$ |
7.27 |
Diluted |
$ |
1.48 |
|
$ |
5.76 |
|
$ |
5.76 |
|
$ |
7.17 |
APTIV PLC
RECONCILIATION OF NON-GAAP MEASURES
(Unaudited)
In this press release the Company has provided information regarding certain non-GAAP financial measures, including “Adjusted Revenue Growth,” “Adjusted Operating Income,” “Adjusted EBITDA,” “Adjusted Net Income,” “Adjusted Net Income Per Share” and “Cash Flow Before Financing.” Such non-GAAP financial measures are reconciled to their closest GAAP financial measure in the following schedules.
Adjusted Revenue Growth: Adjusted Revenue Growth is presented as a supplemental measure of the Company’s financial performance which management believes is useful to investors in assessing the Company’s ongoing financial performance that, when reconciled to the corresponding
Three Months Ended
|
||
|
||
Reported net sales % change |
(5 |
)% |
Less: foreign currency exchange and commodities |
(1 |
)% |
Adjusted revenue growth |
(6 |
)% |
|
|
|
|
Nine Months Ended
|
|
|
|
|
Reported net sales % change |
(2 |
)% |
Less: foreign currency exchange and commodities |
— |
% |
Adjusted revenue growth |
(2 |
)% |
Adjusted Operating Income: Adjusted Operating Income is presented as a supplemental measure of the Company’s financial performance which management believes is useful to investors in assessing the Company’s ongoing financial performance that, when reconciled to the corresponding
Consolidated Adjusted Operating Income |
|||||||||||||||||||||||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||||||||||||||||||
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||||||||||||||
|
($ in millions) |
||||||||||||||||||||||||||
|
$ |
|
Margin |
|
$ |
|
Margin |
|
$ |
|
Margin |
|
$ |
|
Margin |
||||||||||||
Net income attributable to ordinary shareholders |
$ |
363 |
|
|
7.5 |
% |
|
$ |
1,629 |
|
|
31.9 |
% |
|
$ |
1,519 |
|
|
10.3 |
% |
|
$ |
2,004 |
|
|
13.2 |
% |
Mandatory convertible preferred share dividends |
|
— |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
29 |
|
|
|
||||
Net income attributable to Aptiv |
$ |
363 |
|
|
7.5 |
% |
|
$ |
1,629 |
|
|
31.9 |
% |
|
$ |
1,519 |
|
|
10.3 |
% |
|
$ |
2,033 |
|
|
13.4 |
% |
Interest expense |
|
101 |
|
|
|
|
|
75 |
|
|
|
|
|
230 |
|
|
|
|
|
214 |
|
|
|
||||
Other income, net |
|
(5 |
) |
|
|
|
|
(26 |
) |
|
|
|
|
(30 |
) |
|
|
|
|
(36 |
) |
|
|
||||
Gain on Motional transactions |
|
— |
|
|
|
|
|
— |
|
|
|
|
|
(641 |
) |
|
|
|
|
— |
|
|
|
||||
Income tax expense (benefit) |
|
32 |
|
|
|
|
|
(1,312 |
) |
|
|
|
|
159 |
|
|
|
|
|
(1,248 |
) |
|
|
||||
Equity loss, net of tax |
|
7 |
|
|
|
|
|
72 |
|
|
|
|
|
110 |
|
|
|
|
|
227 |
|
|
|
||||
Net income attributable to noncontrolling interest |
|
7 |
|
|
|
|
|
8 |
|
|
|
|
|
18 |
|
|
|
|
|
15 |
|
|
|
||||
Net loss attributable to redeemable noncontrolling interest |
|
(2 |
) |
|
|
|
|
— |
|
|
|
|
|
(2 |
) |
|
|
|
|
(1 |
) |
|
|
||||
Operating income |
$ |
503 |
|
|
10.4 |
% |
|
$ |
446 |
|
|
8.7 |
% |
|
$ |
1,363 |
|
|
9.2 |
% |
|
$ |
1,204 |
|
|
8.0 |
% |
Amortization |
|
53 |
|
|
|
|
|
59 |
|
|
|
|
|
159 |
|
|
|
|
|
177 |
|
|
|
||||
Restructuring |
|
16 |
|
|
|
|
|
28 |
|
|
|
|
|
125 |
|
|
|
|
|
81 |
|
|
|
||||
Other acquisition and portfolio project costs |
|
13 |
|
|
|
|
|
20 |
|
|
|
|
|
66 |
|
|
|
|
|
45 |
|
|
|
||||
Asset impairments |
|
3 |
|
|
|
|
|
— |
|
|
|
|
|
17 |
|
|
|
|
|
— |
|
|
|
||||
Compensation expense related to acquisitions |
|
5 |
|
|
|
|
|
7 |
|
|
|
|
|
13 |
|
|
|
|
|
20 |
|
|
|
||||
Adjusted operating income |
$ |
593 |
|
|
12.2 |
% |
|
$ |
560 |
|
|
11.0 |
% |
|
$ |
1,743 |
|
|
11.8 |
% |
|
$ |
1,527 |
|
|
10.1 |
% |
Segment Adjusted Operating Income |
|
|
|
|
|
|||
(in millions) |
|
|
|
|
|
|||
Three Months Ended September 30, 2024 |
Signal and Power
|
|
Advanced Safety
|
|
Total |
|||
Operating income |
$ |
341 |
|
$ |
162 |
|
$ |
503 |
Amortization |
|
31 |
|
|
22 |
|
|
53 |
Restructuring |
|
13 |
|
|
3 |
|
|
16 |
Other acquisition and portfolio project costs |
|
9 |
|
|
4 |
|
|
13 |
Asset impairments |
|
3 |
|
|
— |
|
|
3 |
Compensation expense related to acquisitions |
|
— |
|
|
5 |
|
|
5 |
Adjusted operating income |
$ |
397 |
|
$ |
196 |
|
$ |
593 |
|
|
|
|
|
|
|||
Depreciation and amortization (a) |
$ |
170 |
|
$ |
71 |
|
$ |
241 |
|
|
|
|
|
|
|||
Three Months Ended September 30, 2023 |
Signal and Power
|
|
Advanced Safety
|
|
Total |
|||
Operating income |
$ |
395 |
|
$ |
51 |
|
$ |
446 |
Amortization |
|
35 |
|
|
24 |
|
|
59 |
Restructuring |
|
7 |
|
|
21 |
|
|
28 |
Other acquisition and portfolio project costs |
|
14 |
|
|
6 |
|
|
20 |
Compensation expense related to acquisitions |
|
— |
|
|
7 |
|
|
7 |
Adjusted operating income |
$ |
451 |
|
$ |
109 |
|
$ |
560 |
|
|
|
|
|
|
|||
Depreciation and amortization (a) |
$ |
160 |
|
$ |
66 |
|
$ |
226 |
|
|
|
|
|
|
|||
Nine Months Ended September 30, 2024 |
Signal and Power
|
|
Advanced Safety
|
|
Total |
|||
Operating income |
$ |
992 |
|
$ |
371 |
|
$ |
1,363 |
Amortization |
|
93 |
|
|
66 |
|
|
159 |
Restructuring |
|
89 |
|
|
36 |
|
|
125 |
Other acquisition and portfolio project costs |
|
45 |
|
|
21 |
|
|
66 |
Asset impairments |
|
3 |
|
|
14 |
|
|
17 |
Compensation expense related to acquisitions |
|
— |
|
|
13 |
|
|
13 |
Adjusted operating income |
$ |
1,222 |
|
$ |
521 |
|
$ |
1,743 |
|
|
|
|
|
|
|||
Depreciation and amortization (a) |
$ |
493 |
|
$ |
226 |
|
$ |
719 |
|
|
|
|
|
|
|||
Nine Months Ended September 30, 2023 |
Signal and Power
|
|
Advanced Safety
|
|
Total |
|||
Operating income |
$ |
1,054 |
|
$ |
150 |
|
$ |
1,204 |
Amortization |
|
107 |
|
|
70 |
|
|
177 |
Restructuring |
|
22 |
|
|
59 |
|
|
81 |
Other acquisition and portfolio project costs |
|
34 |
|
|
11 |
|
|
45 |
Compensation expense related to acquisitions |
|
— |
|
|
20 |
|
|
20 |
Adjusted operating income |
$ |
1,217 |
|
$ |
310 |
|
$ |
1,527 |
|
|
|
|
|
|
|||
Depreciation and amortization (a) |
$ |
464 |
|
$ |
202 |
|
$ |
666 |
(a) |
Includes asset impairments. |
Adjusted EBITDA: Adjusted EBITDA is presented as a supplemental measure of the Company’s financial performance which management believes is useful to investors in assessing the Company’s ongoing financial performance that, when reconciled to the corresponding
Consolidated Adjusted EBITDA |
|
|
|
|
|
|
|
||||||||
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
(in millions) |
||||||||||||||
Net income attributable to ordinary shareholders |
$ |
363 |
|
|
$ |
1,629 |
|
|
$ |
1,519 |
|
|
$ |
2,004 |
|
Mandatory convertible preferred share dividends |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
29 |
|
Net income attributable to Aptiv |
|
363 |
|
|
|
1,629 |
|
|
|
1,519 |
|
|
|
2,033 |
|
Interest expense |
|
101 |
|
|
|
75 |
|
|
|
230 |
|
|
|
214 |
|
Income tax expense (benefit) |
|
32 |
|
|
|
(1,312 |
) |
|
|
159 |
|
|
|
(1,248 |
) |
Net income attributable to noncontrolling interest |
|
7 |
|
|
|
8 |
|
|
|
18 |
|
|
|
15 |
|
Net loss attributable to redeemable noncontrolling interest |
|
(2 |
) |
|
|
— |
|
|
|
(2 |
) |
|
|
(1 |
) |
Depreciation and amortization |
|
241 |
|
|
|
226 |
|
|
|
719 |
|
|
|
666 |
|
EBITDA |
$ |
742 |
|
|
$ |
626 |
|
|
$ |
2,643 |
|
|
$ |
1,679 |
|
Other income, net |
|
(5 |
) |
|
|
(26 |
) |
|
|
(30 |
) |
|
|
(36 |
) |
Gain on Motional transactions |
|
— |
|
|
|
— |
|
|
|
(641 |
) |
|
|
— |
|
Equity loss, net of tax |
|
7 |
|
|
|
72 |
|
|
|
110 |
|
|
|
227 |
|
Restructuring |
|
16 |
|
|
|
28 |
|
|
|
125 |
|
|
|
81 |
|
Other acquisition and portfolio project costs |
|
13 |
|
|
|
20 |
|
|
|
66 |
|
|
|
45 |
|
Compensation expense related to acquisitions |
|
5 |
|
|
|
7 |
|
|
|
13 |
|
|
|
20 |
|
Adjusted EBITDA |
$ |
778 |
|
|
$ |
727 |
|
|
$ |
2,286 |
|
|
$ |
2,016 |
|
Adjusted Net Income and Adjusted Net Income Per Share: Adjusted Net Income and Adjusted Net Income Per Share, which are non-GAAP measures, are presented as supplemental measures of the Company’s financial performance which management believes are useful to investors in assessing the Company’s ongoing financial performance that, when reconciled to the corresponding
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
(in millions, except per share amounts) |
||||||||||||||
Net income attributable to ordinary shareholders |
$ |
363 |
|
|
$ |
1,629 |
|
|
$ |
1,519 |
|
|
$ |
2,004 |
|
Mandatory convertible preferred share dividends (a) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
29 |
|
Net income attributable to Aptiv |
|
363 |
|
|
|
1,629 |
|
|
|
1,519 |
|
|
|
2,033 |
|
Adjusting items: |
|
|
|
|
|
|
|
||||||||
Amortization |
|
53 |
|
|
|
59 |
|
|
|
159 |
|
|
|
177 |
|
Restructuring |
|
16 |
|
|
|
28 |
|
|
|
125 |
|
|
|
81 |
|
Other acquisition and portfolio project costs |
|
13 |
|
|
|
20 |
|
|
|
66 |
|
|
|
45 |
|
Asset impairments |
|
3 |
|
|
|
— |
|
|
|
17 |
|
|
|
— |
|
Compensation expense related to acquisitions |
|
5 |
|
|
|
7 |
|
|
|
13 |
|
|
|
20 |
|
Debt extinguishment costs |
|
12 |
|
|
|
— |
|
|
|
12 |
|
|
|
— |
|
Costs associated with acquisitions and other transactions |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4 |
|
Impairment of equity investments without readily determinable fair value |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
18 |
|
Loss on change in fair value of publicly traded equity securities |
|
5 |
|
|
|
— |
|
|
|
3 |
|
|
|
6 |
|
Gain on Motional transactions |
|
— |
|
|
|
— |
|
|
|
(641 |
) |
|
|
— |
|
Tax impact of intercompany transfers of intellectual property and other related transactions (b) |
|
— |
|
|
|
(1,359 |
) |
|
|
— |
|
|
|
(1,359 |
) |
Tax impact of adjusting items (c) |
|
(21 |
) |
|
|
(17 |
) |
|
|
(78 |
) |
|
|
(44 |
) |
Adjusted net income attributable to Aptiv |
$ |
449 |
|
|
$ |
367 |
|
|
$ |
1,195 |
|
|
$ |
981 |
|
|
|
|
|
|
|
|
|
||||||||
Weighted average number of diluted shares outstanding (a) |
|
245.78 |
|
|
|
283.01 |
|
|
|
263.77 |
|
|
|
283.44 |
|
Diluted net income per share attributable to ordinary shareholders |
$ |
1.48 |
|
|
$ |
5.76 |
|
|
$ |
5.76 |
|
|
$ |
7.17 |
|
Adjusted net income per share |
$ |
1.83 |
|
|
$ |
1.30 |
|
|
$ |
4.53 |
|
|
$ |
3.46 |
|
(a) |
|
On June 15, 2023, each outstanding share of the Company’s |
(b) |
|
In response to the OECD’s Pillar Two Directive, the Company initiated changes to its corporate entity structure, including intercompany transfers of certain intellectual property to one of its subsidiaries in |
(c) |
|
Represents the income tax impacts of the adjustments made for amortization, restructuring and other special items by calculating the income tax impact of these items using the appropriate tax rate for the jurisdiction where the charges were incurred. |
Cash Flow Before Financing: Cash Flow Before Financing is presented as a supplemental measure of the Company’s liquidity which is consistent with the basis and manner in which management presents financial information for the purpose of making internal operating decisions, evaluating its liquidity and determining appropriate capital allocation strategies. Management believes this measure is useful to investors to understand how the Company’s core operating activities generate and use cash. Cash Flow Before Financing is defined as cash provided by (used in) operating activities plus cash provided by (used in) investing activities, adjusted for the purchase price of business acquisitions and other transactions, the cost of significant technology investments and net proceeds from the divestiture of discontinued operations and other significant businesses. Not all companies use identical calculations of Cash Flow Before Financing, therefore this presentation may not be comparable to other similarly titled measures of other companies. The calculation of Cash Flow Before Financing does not reflect cash used to service debt, pay dividends or repurchase shares and, therefore, does not necessarily reflect funds available for investment or other discretionary uses.
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
(in millions) |
||||||||||||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
||||||||
Net income |
$ |
368 |
|
|
$ |
1,637 |
|
|
$ |
1,535 |
|
|
$ |
2,047 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
|
|
||||||||
Depreciation and amortization |
|
241 |
|
|
|
226 |
|
|
|
719 |
|
|
|
666 |
|
Restructuring expense, net of cash paid |
|
(31 |
) |
|
|
4 |
|
|
|
(65 |
) |
|
|
4 |
|
Working capital |
|
(170 |
) |
|
|
72 |
|
|
|
(331 |
) |
|
|
(301 |
) |
Pension contributions |
|
(8 |
) |
|
|
(6 |
) |
|
|
(21 |
) |
|
|
(20 |
) |
Increase in deferred income tax assets from intercompany transfers of intellectual property and other related transactions |
|
— |
|
|
|
(1,359 |
) |
|
|
— |
|
|
|
(1,359 |
) |
Gain on Motional transactions |
|
— |
|
|
|
— |
|
|
|
(641 |
) |
|
|
— |
|
Other, net |
|
99 |
|
|
|
172 |
|
|
|
190 |
|
|
|
235 |
|
Net cash provided by operating activities |
|
499 |
|
|
|
746 |
|
|
|
1,386 |
|
|
|
1,272 |
|
|
|
|
|
|
|
|
|
||||||||
Cash flows from investing activities: |
|
|
|
|
|
|
|
||||||||
Capital expenditures |
|
(173 |
) |
|
|
(212 |
) |
|
|
(664 |
) |
|
|
(703 |
) |
Proceeds from business divestitures, net of cash sold |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(17 |
) |
Cost of business acquisitions and other transactions, net of cash acquired |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(83 |
) |
Cost of technology investments |
|
(81 |
) |
|
|
— |
|
|
|
(121 |
) |
|
|
(1 |
) |
Proceeds from the sale of equity method investment |
|
— |
|
|
|
— |
|
|
|
448 |
|
|
|
— |
|
Purchase of short-term investments |
|
— |
|
|
|
— |
|
|
|
(748 |
) |
|
|
— |
|
Settlement of derivatives |
|
(2 |
) |
|
|
7 |
|
|
|
(2 |
) |
|
|
6 |
|
Other, net |
|
1 |
|
|
|
— |
|
|
|
3 |
|
|
|
3 |
|
Net cash used in investing activities |
|
(255 |
) |
|
|
(205 |
) |
|
|
(1,084 |
) |
|
|
(795 |
) |
|
|
|
|
|
|
|
|
||||||||
Adjusting items: |
|
|
|
|
|
|
|
||||||||
Adjustment for cost of business acquisitions and other transactions, net of cash acquired |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
83 |
|
Adjustment for cost of significant technology investments |
|
81 |
|
|
|
— |
|
|
|
121 |
|
|
|
— |
|
Adjustment for proceeds from sale of equity method investment |
|
— |
|
|
|
— |
|
|
|
(448 |
) |
|
|
— |
|
Cash flow before financing |
$ |
325 |
|
|
$ |
541 |
|
|
$ |
(25 |
) |
|
$ |
560 |
|
Financial Guidance: The reconciliation of the forward-looking non-GAAP financial measures provided in the Company’s financial guidance to the most comparable forward-looking GAAP measure is as follows:
|
Estimated Full Year |
|||||
|
2024 (a) |
|||||
|
($ in millions) |
|||||
Adjusted Operating Income |
$ |
|
Margin (b) |
|||
Net income attributable to Aptiv |
$ |
1,790 |
|
|
9.1 |
% |
Interest expense |
|
335 |
|
|
|
|
Other income, net |
|
(45 |
) |
|
|
|
Gain on Motional transactions |
|
(640 |
) |
|
|
|
Income tax expense |
|
230 |
|
|
|
|
Equity loss, net of tax |
|
125 |
|
|
|
|
Net income attributable to noncontrolling interest (c) |
|
20 |
|
|
|
|
Operating income |
$ |
1,815 |
|
|
9.2 |
% |
Amortization |
|
210 |
|
|
|
|
Restructuring |
|
210 |
|
|
|
|
Other acquisition and portfolio project costs |
|
70 |
|
|
|
|
Asset impairments |
|
20 |
|
|
|
|
Compensation expense related to acquisitions |
|
25 |
|
|
|
|
Adjusted operating income |
$ |
2,350 |
|
|
11.9 |
% |
|
|
|
|
|||
Adjusted EBITDA |
|
|
|
|||
Net income attributable to Aptiv |
$ |
1,790 |
|
|
9.1 |
% |
Interest expense |
|
335 |
|
|
|
|
Income tax expense |
|
230 |
|
|
|
|
Net income attributable to noncontrolling interest (c) |
|
20 |
|
|
|
|
Depreciation and amortization |
|
955 |
|
|
|
|
EBITDA |
$ |
3,330 |
|
|
16.9 |
% |
Other income, net |
|
(45 |
) |
|
|
|
Gain on Motional transactions |
|
(640 |
) |
|
|
|
Equity loss, net of tax |
|
125 |
|
|
|
|
Restructuring |
|
210 |
|
|
|
|
Other acquisition and portfolio project costs |
|
70 |
|
|
|
|
Compensation expense related to acquisitions |
|
25 |
|
|
|
|
Adjusted EBITDA |
$ |
3,075 |
|
|
15.6 |
% |
(a) |
|
Prepared at the estimated mid-point of the Company’s financial guidance range. |
(b) |
|
Represents net income attributable to Aptiv, operating income, Adjusted Operating Income, EBITDA and Adjusted EBITDA, respectively, as a percentage of estimated net sales. |
(c) |
|
Includes portion attributable to redeemable noncontrolling interest. |
|
|
||
|
Estimated Full Year |
||
|
2024 (a) |
||
Adjusted Net Income Per Share |
($ and shares in
|
||
Net income attributable to Aptiv |
$ |
1,790 |
|
Adjusting items: |
|
||
Amortization |
|
210 |
|
Restructuring |
|
210 |
|
Other acquisition and portfolio project costs |
|
70 |
|
Asset impairments |
|
20 |
|
Compensation expense related to acquisitions |
|
25 |
|
Loss on change in fair value of publicly traded equity securities |
|
5 |
|
Debt extinguishment costs |
|
10 |
|
Gain on Motional transactions |
|
(640 |
) |
Tax impact of adjusting items |
|
(115 |
) |
Adjusted net income attributable to Aptiv |
$ |
1,585 |
|
|
|
||
Weighted average number of diluted shares outstanding |
|
256.70 |
|
Diluted net income per share attributable to Aptiv |
$ |
6.95 |
|
Adjusted net income per share |
$ |
6.15 |
|
(a) |
|
Prepared at the estimated mid-point of the Company’s financial guidance range. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20241031095433/en/
Investor Contact:
Jane Wu
+1.617.603.7941
jane.wu@aptiv.com
Source: Aptiv PLC
FAQ
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