Aptiv Cuts FY Sales Outlook

Aptiv Plc. (APTV) now expects full year 2021 sales to be in the range of $15.1 billion to $15.5 billion, down 6% at the midpoint versus a previous range of $16.1 billion to $16.4 billion.

Full year 2021 adjusted operating income margins are now expected to be in the range of 7.6% to 8.4% versus a previous range of 9.9% to 10.2%, which includes the impacts of operating inefficiencies, increased supply chain disruption costs and other uncertainties.

The updated outlook reflects a 7% decrease in global vehicle production rates, from 85 million to 79 million units, at the time the previous full year 2021 guidance was issued on August 5, 2021.

Although the company still expects revenue growth over market to be consistent with the previously issued financial guidance of 10% for 2021, global vehicle production for the third quarter is currently expected to be approximately 18 million units, or a decrease of approximately 15% from the 21 million units expected at the time the previous full year guidance was issued.

Global vehicle production for the fourth quarter is currently expected to be approximately 20 million units, or a decrease of approximately 13% from the 23 million units expected previously.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating loss of more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV. The U.S. Food and Drug Administration announced the intended availability of base powder to make around 6 million bottles of specialty formula from Mexico as part of its efforts to meet the nationwide supply shortage caused by Abbott Nutrition recall. Reckitt Nutrition/Mead Johnson Nutrition will send an initial shipment of 331 thousand pounds of base powder for PurAmino Hypoallergenic Formula. Shares of Deutsche Telekom AG were gaining more than 1 percent in the morning trading in Germany after the telecom major on Thursday raised its fiscal 2022 earnings outlook again, despite reporting lower profit in its second quarter. Adjusted EBITDA AL, a key earnings metric, increased, while adjusted EBITDA AL margin dropped.
Follow RTT