Aptiv PLC (NYSE:APTV) shares are trading higher Thursday after the company reported better-than-expected financial results and issued strong guidance. Here’s a rundown of the report.
Total revenue was down 1% year-over-year. Cash flow from operations totaled $1.06 billion in the quarter. The company ended the quarter with $1.6 billion in cash and cash equivalents.
“Looking ahead, as we navigate a dynamic market environment, we will remain focused on enabling our customers as they transition to a more feature-rich, software-defined future,” said Kevin Clark, chairman and CEO of Aptiv.
“This year also marks a major milestone in Aptiv’s evolution, as we execute on the separation of our Electrical Distribution Systems business, which will create two independent companies better positioned to address the evolving needs of our customers and further capitalize on market opportunities.”
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Outlook: Aptiv expects first-quarter revenue of $4.64 billion to $4.84 billion versus estimates of $4.81 billion, according to Benzinga Pro. The company anticipates first-quarter adjusted earnings of $1.40 to $1.60 per share versus estimates of $1.49 per share.
Aptiv expects full-year revenue to be between $19.6 billion and $20.4 billion versus estimates of $19.96 billion. The company expects full-year adjusted earnings of $7 to $7.60 per share versus estimates of $6.92 per share.
APTV Price Action: Aptiv shares were up 5.47% at $64.54 at the time of publication Thursday, according to Benzinga Pro.
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