US auto suppliers are expected to post Q3 results that "could largely miss expectations," with the exception of a handful of companies, Deutsche Bank said in a note Friday.
A few of the auto suppliers are forecast to post in-line Q3 results and potentially "deliver small outperformance on margins," the analysts said.
"We expect broad-based top-line misses from suppliers, and some that could still meet margin expectations thanks to cost actions," the note also said.
While suppliers with little exposure to Stellantis' (STLA) inventory troubles, such as Adient (ADNT), American Axle (AXL), BorgWarner (BWA), and Visteon (VC) could still meet Q3 estimates, Aptiv (APTV), Autoliv (ALV), Dana (DAN), and Lear (LEA) are at risk of missing top-line expectations, the note said.
Deutsche Bank singled out Aptiv as one company in the sector which may outperform on its bottom line in Q3.
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