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Sep 30, 2022
Aptiv Q3 2022 Earnings Report
Operational execution drove strong growth and margin expansion.
Key Takeaways
Aptiv's Q3 2022 results demonstrated strong growth over underlying vehicle production, achieving a 26% increase in U.S. GAAP revenue to $4.6 billion and a U.S. GAAP net income of $286 million, or $1.05 per diluted share. Excluding special items, earnings per share totaled $1.28. The company generated $437 million in cash from operations.
U.S. GAAP revenue of $4.6 billion, an increase of 26%
Revenue increased 33% adjusted for currency exchange and commodity movements; growth over market of 9% based on AWM1 of 24%
U.S. GAAP net income of $286 million, diluted earnings per share of $1.05
Adjusted Operating Income margin of 11.4%, Adjusted Operating Income of $525 million; Adjusted EBITDA of $673 million
Aptiv
Aptiv
Aptiv Revenue by Segment
Revenue by Segment
Safety & User Experience Revenue
CapyFin.com Forward Guidance
The Company’s full year 2022 financial guidance is as follows: Net sales $17,000 - $17,300, Adjusted EBITDA $2,160 - $2,310, Adjusted EBITDA margin 12.7% - 13.4%, Adjusted operating income $1,525 - $1,675, Adjusted operating income margin 9.0% - 9.7%, Adjusted net income per share $3.05 - $3.55, Cash flow from operations $1,350, Capital expenditures $800, Adjusted effective tax rate ~13%
Positive Outlook
- Net sales $17,000 - $17,300 million
- Adjusted EBITDA $2,160 - $2,310 million
- Adjusted EBITDA margin 12.7% - 13.4%
- Adjusted operating income $1,525 - $1,675 million
- Adjusted operating income margin 9.0% - 9.7%
Challenges Ahead
- Adjusted net income per share $3.05 - $3.55
- Cash flow from operations $1,350 million
- Capital expenditures $800 million
- Adjusted effective tax rate ~13%
- Includes approximately $1.05 per diluted share for the anticipated equity losses to be recognized by Aptiv from the performance of the Motional autonomous driving joint venture.