Advertisement
U.S. markets closed
  • S&P 500

    5,137.08
    +40.81 (+0.80%)
     
  • Dow 30

    39,087.38
    +90.99 (+0.23%)
     
  • Nasdaq

    16,274.94
    +183.02 (+1.14%)
     
  • Russell 2000

    2,076.39
    +21.55 (+1.05%)
     
  • Crude Oil

    79.81
    +1.55 (+1.98%)
     
  • Gold

    2,091.60
    +36.90 (+1.80%)
     
  • Silver

    23.34
    +0.46 (+2.01%)
     
  • EUR/USD

    1.0839
    +0.0032 (+0.29%)
     
  • 10-Yr Bond

    4.1800
    -0.0720 (-1.69%)
     
  • GBP/USD

    1.2655
    +0.0029 (+0.23%)
     
  • USD/JPY

    150.0640
    +0.0800 (+0.05%)
     
  • Bitcoin USD

    61,808.25
    -791.33 (-1.26%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,682.50
    +52.48 (+0.69%)
     
  • Nikkei 225

    39,910.82
    +744.63 (+1.90%)
     

Aptiv's (APTV) Q3 Earnings Beat Estimates, Increase Y/Y

Aptiv PLC APTV reported better-than-expected third-quarter 2023 results.

Adjusted earnings (excluding $4.46 from non-recurring items) of $1.30 per share beat the Zacks Consensus Estimate by 8.3% and increased 1.6% year over year. Revenues of $5.1 billion surpassed the Zacks Consensus Estimate by 2.5% and improved 10.8% year over year.

It also registered growth of 10%, 10%, 2% and 12% in Europe, North America, Asia and South America, respectively. However, revenues were flat in China.

Aptiv PLC Price, Consensus and EPS Surprise

Aptiv PLC Price, Consensus and EPS Surprise
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 $3.7 billion gained 8% year over year and beat our estimate of $3.68 billion. The Advanced Safety and User Experience segment’s revenues were up 20% year over year to $1.5 billion and surpassed our estimate of $1.2 billion.

Adjusted operating income was $560 million, up 6.6% from the year-ago figure. This compares favorably with our expectation of $496.2 million.

Adjusted operating income margin was 11% compared with 11.4% in the prior year. Our projection was 10.1%.

Aptiv exited the quarter with a cash and cash equivalent balance of $1.8 billion compared with the prior quarter’s $1.3 billion. Long-term debt was $6.4 billion compared with $6.5 billion in the previous quarter.

Total available liquidity at third-quarter end was $4.3 billion compared with $3.8 billion at the end of the prior quarter. In the quarter, APTV generated $746 million in cash from operating activities.

2023 Outlook Unchanged

Aptiv expects revenues to be $19.95-$20.25 billion. The midpoint of the guided range ($20.1 billion) is higher than the Zacks Consensus Estimate of $20.01 billion.

Adjusted EPS is projected to be between $4.60 and $4.90. The midpoint of the guided range ($4.75) is higher than the Zacks Consensus Estimate of $4.72.

Adjusted operating income margin is anticipated to be between 10.4% and 10.7%. Capital expenditure is suggested to be $950 million.

Adjusted EBITDA margin is envisioned to be between 13.8% and 14.1%. Adjusted effective tax rate is forecast to be 12.5%.

Currently, Aptiv carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Earnings Snapshots of Some Service Providers

The Interpublic Group of Companies, Inc. IPG posted third-quarter 2023 results, wherein both earnings and revenues missed the Zacks Consensus Estimate.

IPG’s adjusted earnings of 70 cents per share lagged the consensus estimate by 6.7%. The bottom line, however, climbed 11.1% on a year-over-year basis. Net revenues of $2.31 billion fell short of the consensus estimate by 3.3%. In the year-ago quarter, IPG’s net revenues were $2.3 billion. Total revenues of $2.68 billion increased 1.5% year over year.

Equifax Inc. EFX reported lower-than-expected third-quarter 2023 results. Adjusted earnings (excluding 45 cents from non-recurring items) were $1.76 per share, missing the Zacks Consensus Estimate by 1.1%. Yet, the metric rose 1.7% from a year ago.

EFX’s total revenues of $1.32 billion fell short of the consensus estimate by 0.7%. Nonetheless, the figure gained 6% from a year ago on a reported basis and 6.5% on a local-currency basis.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Interpublic Group of Companies, Inc. (The) (IPG) : Free Stock Analysis Report

Equifax, Inc. (EFX) : Free Stock Analysis Report

Aptiv PLC (APTV) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Advertisement