- Aptiv PLC APTV reported first-quarter FY22 sales growth of 4% year-on-year to $4.18 billion, beating the consensus of $4.04 billion.
- Revenue rose 4% adjusted for currency exchange and commodity movements.
- Revenue in North America rose 7%, South America increased 24%, Europe fell 5%, and Asia increased 9%, which includes growth of 14% in China.
- Operating expenses rose 9% Y/Y to $3.9 billion. Adjusted operating margin was 7.8%, with Adjusted operating income of $324 million and Adjusted EBITDA of $478 million.
- Cash used in operating activities amounted to $202 million in the quarter. The company held $4.9 billion in cash and equivalents as of March 31, 2022.
- Adjusted EPS of $0.63 beat the analyst consensus of $0.61.
- Outlook: Aptiv expects FY22 adjusted EPS of $3.90 - $4.80, versus the consensus of $3.88.
- APTV expects FY22 net sales of $17.75 billion - $18.15 billion, versus the consensus of $17.83 billion.
- Price Action: APTV shares are trading lower by 5.44% at $104.41 on the last check Thursday.
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