- Aptiv PLC APTV reported second-quarter FY21 sales growth of 94.2% year-on-year, to $3.81 billion, beating the analyst consensus of $3.59 billion.
- Revenue rose 85% adjusted for currency exchange, commodity movements, and divestitures.
- Revenue in North America rose 154%, South America increased 287%, Europe gained 123%, and Asia increased 17%.
- Operating expenses rose 55.1% Y/Y to $3.5 billion.
- The adjusted operating margin was 7.9%, with an adjusted operating income of $301 million. Adjusted EBITDA was $498 million.
- Cash generated from operating activities amounted to $297 million.
- Adjusted EPS of $0.60 missed the analyst consensus of $0.69.
- The company held $2.9 billion in cash and equivalents as of June 30, 2021.
- Outlook: Aptiv raised FY21 sales guidance to $16.115 billion - $16.415 billion (prior $15.125 billion - $15.725 billion), versus the consensus of $15.69 billion.
- The company also raised the adjusted EPS outlook to $3.63 - $3.87 (prior $3.35 - $3.85), versus a consensus of $3.74.
- It sees Adjusted EBITDA margin of 14.8%-15.0% (prior 15.4%-15.7%) and Adjusted operating income margin to 9.9%-10.2% (prior 10.2%-10.7%).
- Price action: APTV shares are trading lower by 3.45% at $160.01 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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