Q2 2024 Aptiv PLC Earnings Call Transcript
Key Points
- Aptiv PLC (APTV) delivered record earnings and EPS, reflecting solid execution and lower supply chain disruption costs.
- The company announced a new $5 billion share repurchase authorization, including an accelerated share repurchase plan.
- Aptiv PLC (APTV) booked $4.3 billion of new business awards in Q2, bringing the year-to-date total to over $17 billion.
- The Advanced Safety and User Experience segment achieved record revenues and earnings, driven by strong product portfolio and operational efficiency.
- The company reported strong cash flow, positioning it to repurchase over $100 billion of stock during the quarter.
- Revenue was down 2% year-over-year, impacted by lower production volumes at select customers.
- The Signal and Power Solutions segment saw a 3% decline in revenues, primarily due to reduced production schedules by select customers.
- The company lowered its full-year revenue outlook due to continued pressure on vehicle production.
- High voltage revenues were down 19% in the quarter, impacting overall segment performance.
- Aptiv PLC (APTV) faces significant revenue headwinds from smaller customers, particularly in the Chinese market.
Please stand by for streaming text.
Earnings Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Jane oil, Vice President of Investor Relations and Corporate Development. Please go ahead.
Thank you, gentlemen. Good morning, and thank you for joining us this second quarter 2024 earnings conference call. The press release and related tables, along with the slide presentation can be found on the Investor Relations portion of our website at amtd.com sales review.
Our financials exclude amortization, restructuring and other special items, and we'll address yes, the continuing operations of active. The reconciliations between GAAP and non-GAAP measures for our second quarter results as well as our 2024 outlook are included at the back of the slide presentation and the earnings press release.
During today's call, we will be providing certain forward-looking information that reflects
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