We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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 of 91 cents per share beat the Zacks Consensus Estimate by 2.3% and matched our estimate. The bottom line increased 44.4% year over year.
Revenues of $4.8 billion surpassed the Zacks Consensus Estimate by 6.4% and our estimate by 7.4%. The top line increased 15.3% year over year. It also registered 24% growth in Europe, 14% in North America, 7% in Asia, including 2% in China, and 11% in South America.
Aptiv‘s shares have lost 11.6% over the past year compared with the 24.1% decline of the industry it belongs to.
Other Quarterly Numbers
Signal and Power Solutions’ revenues of $3.5 billion improved 12% year over year. Advanced Safety and User Experience segment’s revenues increased 26% year over year to $1.4 billion.
Adjusted operating income was $437 million, up 34.9% from the figure reported in the year-ago quarter. Adjusted operating income margin was 11.3%, up 130 basis points year over year.
Aptiv exited the quarter with a cash and cash equivalent balance of $1.1 billion. Long-term debt was $6.5 billion, flat with the previous quarter.
Total available liquidity at the end of the quarter was $3.6 billion compared with $4 billion recorded at the end of the prior quarter. In the quarter, the company used $9 million cash in operating activities.
OMC’s earnings of $1.56 per share beat the Zacks Consensus Estimate by 13% and our estimate by 11.4%. EPS increased 12.2% year over year. Total revenues of $3.4 billion surpassed the consensus estimate by 2.3% and our estimate by 1.4%. The top line increased 1% year over year.
EFX’s adjusted earnings were $1.43, beating the consensus mark by 4.4% but declining 35.6% from the year-ago figure. Total revenues of $1.3 billion surpassed the consensus estimate by 1.5% but decreased 4.5% year over year.
MAN’s adjusted earnings of $1.61 per share lagged the consensus mark by 0.6% but matched our estimate. Revenues of $4.8 billion missed the consensus mark by 1.3% and our estimate by a slight margin. The top line decreased 7.6% year over year.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Aptiv (APTV) Q1 Earnings Beat Estimates, Increase Y/Y
Aptiv PLC (APTV - Free Report) reported better-than-expected first-quarter 2023 results.
Adjusted earnings of 91 cents per share beat the Zacks Consensus Estimate by 2.3% and matched our estimate. The bottom line increased 44.4% year over year.
Revenues of $4.8 billion surpassed the Zacks Consensus Estimate by 6.4% and our estimate by 7.4%. The top line increased 15.3% year over year. It also registered 24% growth in Europe, 14% in North America, 7% in Asia, including 2% in China, and 11% in South America.
Aptiv‘s shares have lost 11.6% over the past year compared with the 24.1% decline of the industry it belongs to.
Other Quarterly Numbers
Signal and Power Solutions’ revenues of $3.5 billion improved 12% year over year. Advanced Safety and User Experience segment’s revenues increased 26% year over year to $1.4 billion.
Adjusted operating income was $437 million, up 34.9% from the figure reported in the year-ago quarter. Adjusted operating income margin was 11.3%, up 130 basis points year over year.
Aptiv exited the quarter with a cash and cash equivalent balance of $1.1 billion. Long-term debt was $6.5 billion, flat with the previous quarter.
Total available liquidity at the end of the quarter was $3.6 billion compared with $4 billion recorded at the end of the prior quarter. In the quarter, the company used $9 million cash in operating activities.
Aptiv PLC Price, Consensus and EPS Surprise
Aptiv PLC price-consensus-eps-surprise-chart | Aptiv PLC Quote
2023 Outlook
Aptiv expects revenues of $18.7-$19.3 billion, the mid-point ($19 billion) of which is below the Zacks Consensus Estimate of $19.14 billion.
Adjusted EPS is expected between $4.00 and $4.50, the mid-point ($4.25 billion) of which is below the Zacks Consensus Estimate of $4.4.
The adjusted operating income margin is anticipated between 10.3% and 10.8%. Capital expenditure is expected to be $950 million.
The adjusted EBITDA margin is expected between 13.8% and 14.2%. The adjusted effective tax rate is expected to be 14.5%.
Currently, Aptiv carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Earnings Snapshots of Some Service Providers
Omnicom (OMC - Free Report) reported better-than-expected first-quarter 2023 results.
OMC’s earnings of $1.56 per share beat the Zacks Consensus Estimate by 13% and our estimate by 11.4%. EPS increased 12.2% year over year. Total revenues of $3.4 billion surpassed the consensus estimate by 2.3% and our estimate by 1.4%. The top line increased 1% year over year.
Equifax (EFX - Free Report) also posted better-than-expected first-quarter 2023 results.
EFX’s adjusted earnings were $1.43, beating the consensus mark by 4.4% but declining 35.6% from the year-ago figure. Total revenues of $1.3 billion surpassed the consensus estimate by 1.5% but decreased 4.5% year over year.
ManpowerGroup (MAN - Free Report) reported lower-than-expected first-quarter 2023 results.
MAN’s adjusted earnings of $1.61 per share lagged the consensus mark by 0.6% but matched our estimate. Revenues of $4.8 billion missed the consensus mark by 1.3% and our estimate by a slight margin. The top line decreased 7.6% year over year.