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Aptiv Reports Q4, Full-Year 2019 Financial Results

The company reported U.S. GAAP revenue of $14.4 billion, a decrease of 1%.

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Aptiv PLC has reported fourth quarter 2019 U.S. GAAP earnings of 90 cents per diluted share. Excluding special items, fourth quarter earnings totaled $1.15 per diluted share. These results include the adverse impacts in the fourth quarter of approximately 28 cents per diluted share resulting from the General Motors (GM) labor strike.

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Fourth Quarter Highlights Include:

  • U.S. GAAP revenue of $3.6 billion, a decrease of 1%
  • Revenue increased 2% adjusted for currency exchange, commodity movements and divestitures; adversely impacted by approximately $130 million resulting from the GM labor strike
  • U.S. GAAP net income of $230 million, diluted earnings per share of $0.90
  • Excluding special items, earnings of $1.15 per diluted share, which includes adverse impacts of approximately $0.28 per diluted share resulting from the GM labor strike
  • U.S. GAAP operating income margin of 9.0%
  • Adjusted Operating Income margin of 10.8%; Adjusted Operating Income of $388 million, which includes adverse impacts of approximately $80 million resulting from the GM labor strike
  • Generated $703 million of cash from operations
  • Returned $86 million to shareholders through share repurchases and dividends

Full Year 2019 Highlights Include:

  • U.S. GAAP revenue of $14.4 billion, a decrease of 1%
  • Revenue increased 4% adjusted for currency exchange, commodity movements and divestitures; adversely impacted by approximately $200 million resulting from the GM labor strike
  • U.S. GAAP net income of $990 million, diluted earnings per share of $3.85
  • Excluding special items, earnings of $4.80 per diluted share, which includes adverse impacts of approximately $0.38 per diluted share resulting from the GM labor strike
  • U.S. GAAP operating income margin of 8.9%
  • Adjusted Operating Income margin of 10.8%; Adjusted Operating Income of $1,548 million, which includes adverse impacts of approximately $110 million resulting from the GM labor strike
  • Generated $1,624 million of cash from operations
  • Returned $646 million to shareholders through share repurchases and dividends

“In 2019, Aptiv continued to build on its track record of industry leadership, innovation and execution, sustaining strong above-market growth and delivering record new business awards totaling over $22 billion, focused on delivering the software capabilities, advanced computing platforms and networking architecture that are making the future of mobility real,” said Kevin Clark, president and CEO. “We enhanced the long-term competitiveness of our business model by continuing to reduce overhead costs and reinvest those savings in the development of advanced technologies. We also continued our track record of value-enhancing and balanced capital deployment, investing in acquisitions and returning approximately $650 million of cash to shareholders. Looking ahead, I am confident our strategically positioned portfolio and relentless focus on execution will continue to drive strong, sustainable performance and superior value creation even in a challenging macro environment, as reflected in our outlook for 2020.”

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