Aptiv's (APTV) Q1 Earnings Meet Estimates, Decrease Y/Y

Aptiv PLC’s APTV first-quarter 2022 earnings meet the Zacks Consensus Estimate while revenues beat the same.

Adjusted earnings (excluding 36 cents from non-recurring items) came in at 63 cents per share and declined 40.6% on a year-over-year basis. Revenues of $4.18 billion surpassed the consensus mark by 3.1% and rose 3.9% year over year.

Other Quarterly Numbers

Signal and Power Solutions revenues of $3.1 billion were up 3% year over year. Advanced Safety and User Experience revenues climbed 7% year over year to $1.08 billion.

Aptiv PLC Price, Consensus and EPS Surprise

Aptiv PLC Price, Consensus and EPS Surprise

Aptiv PLC price-consensus-eps-surprise-chart | Aptiv PLC Quote

Adjusted operating income came in at $324 million, down 31.6% from the figure reported in the year-ago quarter. Adjusted operating income margin came in at 7.8%, down 403 basis points year over year.

Aptiv exited the quarter with cash and cash equivalents balance of $4.9 billion compared with the prior quarter’s level of $3.14 billion. Long-term debt was $6.5 billion compared with $4.1 billion at the end of the previous quarter.

Total available liquidity at the end of the quarter was $7.4 billion compared with $5.6 billion recorded at the end of the prior quarter. During the quarter, net cash used in operating activities was $202 million.

2022 Outlook

Aptiv expects revenues in the range of $17.75-$18.15 billion. The current Zacks Consensus Estimate is pegged at $17.75 million.

Adjusted EPS is expected between $3.9 and $4.8, above the current Zacks Consensus Estimate of $3.8.

Adjusted operating income margin is anticipated between $9.9% and $11.2%. Capital expenditures are expected to be $850 million.

Adjusted EBITDA margin is expected between 13.6% and 14.8%. Adjusted effective tax rate is expected to be 13%.

Currently, Aptiv carries a Zacks Rank 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Earnings Snapshots

Within the broader Business Services sector, ManpowerGroup Inc. MAN, Omnicom Group Inc. OMC and Equifax Inc. EFX recently reported first-quarter 2022 results.

ManpowerGroup reported impressive first-quarter 2022 results, with both earnings and revenues beating the Zacks Consensus Estimate. Quarterly adjusted earnings of $1.88 per share beat the consensus mark by 20.5% and improved 69.4% year over year. Revenues of $5.14 billion surpassed the consensus mark by 0.7% and inched up 4.5% year over year on a reported basis and 9.8% on a constant-currency (cc) basis.

Omnicom reported impressive first-quarter 2022 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Earnings of $1.39 per share beat the consensus mark by 8.6% and increased 4.5% year over year, driven by a strong margin performance. Total revenues of $3.4 billion surpassed the consensus estimate by 5.4% but declined slightly year over year.

Equifax reported better-than-expected first-quarter 2022 results. Adjusted earnings of $2.22 per share beat the Zacks Consensus Estimate by 3.3% and improved 13% on a year-over-year basis. Revenues of $1.36 billion outpaced the consensus estimate by 2.4% and improved 12.4% year over year on a reported basis and 13% on a local-currency basis.

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ManpowerGroup Inc. (MAN) : Free Stock Analysis Report

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