Aptiv PLC

Latest Results (14.08.2024):

Record Quarterly Earnings

Aptiv PLC reported record quarterly operating earnings and earnings per share for the second quarter of 2024. The company achieved U.S. GAAP earnings of $3.47 per diluted share, and excluding special items, earnings totaled $1.58 per diluted share. This marks a significant improvement from the prior year period.

Revenue Performance

For the second quarter of 2024, Aptiv PLC reported U.S. GAAP revenue of $5.1 billion, a decrease of 3% from the previous year. Adjusted for currency exchange and commodity movements, revenue decreased by 2%. This decline was observed across various regions, with North America down by 3%, Europe by 2%, and South America by 13%, while Asia remained flat with a 1% increase in China.

Net Income and Margins

Aptiv PLC's U.S. GAAP net income for the second quarter of 2024 was $938 million, resulting in a net income margin of 18.6%. This is a substantial increase compared to the prior year period, which saw a net income of $229 million and a net income margin of 4.4%. Adjusted net income for the quarter was $428 million, or $1.58 per diluted share.

Cash Flow and Shareholder Returns

In the second quarter of 2024, Aptiv PLC generated $643 million in cash from operations. The company returned $434 million to shareholders through share repurchases. Year-to-date, Aptiv has repurchased 12.7 million shares for approximately $1,034 million, with all repurchased shares being retired.

Share Repurchase Program

Aptiv PLC announced a new $5.0 billion share repurchase authorization and a $3.0 billion accelerated share repurchase program. This new authorization follows the completion of the company's previous $2.0 billion share repurchase program initiated in January 2019. The accelerated share repurchase program will be funded through cash on hand and proceeds from debt.