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Aptiv's Q3 Earnings Beat Estimates, Increase Year Over Year
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Aptiv PLC (APTV - Free Report) reported mixed third-quarter 2024 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Adjusted earnings of $1.83 per share beat the Zacks Consensus Estimate by 8.3% and increased 40.8% year over year. Revenues of $4.9 billion missed the Zacks Consensus Estimate by 6.1% and decreased 5.1% year over year.
The company’s adjusted revenues declined 6% year over year. Adjusted revenues declined 7% in North America and 4% in Asia, including a 6% decrease in China. Revenues declined 6% in Europe and 12% in South America.
APTV stock has lost 19.7% of its value in the past year against the 56.6% rally of the industry it belongs to.
Signal and Power Solutions’ revenues of $3.4 billion declined 7% year over year. The Advanced Safety and User Experience segment’s revenues decreased 1% year over year to $1.4 billion.
Adjusted operating income was $593 million, up 6% from the figure reported in the year-ago quarter. Adjusted operating income margin was 12.2%, up 120 basis points year over year.
Aptiv exited the quarter with a cash and cash equivalent balance of $1.1 billion compared with the prior quarter’s $1.4 billion. Long-term debt was $8.3 billion compared with $5.5 billion in the previous quarter.
Total available liquidity at the end of the quarter was $3.9 billion compared with $4.6 billion recorded at the end of the prior quarter. The company generated $499 million in cash from operating activities in the quarter.
APTV’s Updated 2024 Outlook
Aptiv expects revenues to be between $19.6 billion and $19.9 billion compared with the prior expectation of $20.1-$20.4 billion, and lower than the current Zacks Consensus Estimate of $20.2 billion.
Adjusted EPS is expected to be between $6 and $6.3 compared with the previous anticipation of $6.15 and $6.45. The midpoint ($6.15) is lower than the current Zacks Consensus Estimate of $6.23. Adjusted operating income margin is anticipated between 11.7% and 12.1% compared with the previous guidance of 11.8% and 12%. Capital expenditure is expected to be $875 million against the previous expectation of $900 million.
Adjusted EBITDA margin is expected between 15.4% and 15.7%. The adjusted effective tax rate is expected to be around 16.5%.
Omnicom (OMC - Free Report) reported impressive third-quarter 2024 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.
OMC’s earnings of $2 per share beat the consensus estimate by 3.1% and increased 9.1% year over year. Total revenues of $3.9 billion surpassed the consensus estimate by 2.3% and increased 8.5% year over year.
Equifax (EFX - Free Report) reported mixed third-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate while revenues missed the same.
EFX’s adjusted earnings were $1.8 per share, beating the Zacks Consensus Estimate by a slight margin and increasing 5.1% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 9.3% from the year-ago quarter.
RSG’s earnings per share of $1.8 outpaced the Zacks Consensus Estimate by 11.7% and grew 17.5% from the year-ago quarter. Revenues of $4.1 billion missed the consensus mark by a slight margin, while it increased 6.5% on a year-over-year basis.
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Aptiv's Q3 Earnings Beat Estimates, Increase Year Over Year
Aptiv PLC (APTV - Free Report) reported mixed third-quarter 2024 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Adjusted earnings of $1.83 per share beat the Zacks Consensus Estimate by 8.3% and increased 40.8% year over year. Revenues of $4.9 billion missed the Zacks Consensus Estimate by 6.1% and decreased 5.1% year over year.
The company’s adjusted revenues declined 6% year over year. Adjusted revenues declined 7% in North America and 4% in Asia, including a 6% decrease in China. Revenues declined 6% in Europe and 12% in South America.
APTV stock has lost 19.7% of its value in the past year against the 56.6% 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 for APTV
Signal and Power Solutions’ revenues of $3.4 billion declined 7% year over year. The Advanced Safety and User Experience segment’s revenues decreased 1% year over year to $1.4 billion.
Adjusted operating income was $593 million, up 6% from the figure reported in the year-ago quarter. Adjusted operating income margin was 12.2%, up 120 basis points year over year.
Aptiv exited the quarter with a cash and cash equivalent balance of $1.1 billion compared with the prior quarter’s $1.4 billion. Long-term debt was $8.3 billion compared with $5.5 billion in the previous quarter.
Total available liquidity at the end of the quarter was $3.9 billion compared with $4.6 billion recorded at the end of the prior quarter. The company generated $499 million in cash from operating activities in the quarter.
APTV’s Updated 2024 Outlook
Aptiv expects revenues to be between $19.6 billion and $19.9 billion compared with the prior expectation of $20.1-$20.4 billion, and lower than the current Zacks Consensus Estimate of $20.2 billion.
Adjusted EPS is expected to be between $6 and $6.3 compared with the previous anticipation of $6.15 and $6.45. The midpoint ($6.15) is lower than the current Zacks Consensus Estimate of $6.23. Adjusted operating income margin is anticipated between 11.7% and 12.1% compared with the previous guidance of 11.8% and 12%. Capital expenditure is expected to be $875 million against the previous expectation of $900 million.
Adjusted EBITDA margin is expected between 15.4% and 15.7%. The adjusted effective tax rate is expected to be around 16.5%.
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
Omnicom (OMC - Free Report) reported impressive third-quarter 2024 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.
OMC’s earnings of $2 per share beat the consensus estimate by 3.1% and increased 9.1% year over year. Total revenues of $3.9 billion surpassed the consensus estimate by 2.3% and increased 8.5% year over year.
Equifax (EFX - Free Report) reported mixed third-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate while revenues missed the same.
EFX’s adjusted earnings were $1.8 per share, beating the Zacks Consensus Estimate by a slight margin and increasing 5.1% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 9.3% from the year-ago quarter.
Republic Services (RSG - Free Report) reported mixed third-quarter 2024 results.
RSG’s earnings per share of $1.8 outpaced the Zacks Consensus Estimate by 11.7% and grew 17.5% from the year-ago quarter. Revenues of $4.1 billion missed the consensus mark by a slight margin, while it increased 6.5% on a year-over-year basis.