Aptiv (APTV)

Yesterday (2/14), we attended Aptiv’s (APTV; $123.78; E/W) Investor Conference in Boston where management provided a detailed long-term vision for better monetizing its expansive product portfolio. To that end, management spent a great deal of…

We reviewed Aptiv’s (APTV; $117.97; E/W) 10-K, filed yesterday (2/8), which was timely given the company’s upcoming Investor Conference on Tuesday (2/14) in Boston. For example, the 10-K disclosed that just four OEMs drove 60%…

We adjust our 2023E EPS for Aptiv (APTV; $118.68; E/W) from $3.75 to $4.35 following a “mixed bag” of Q4 results and after the company introduced 2023E EPS targets of $4.00-$4.50 (vs. consensus of $4.58). From…

Aptiv (APTV; $114.75; E/W) reported adjusted Q4 EPS of $1.27, which was ahead of our $1.21 and the Street’s $1.20 on sales of $4,640mm (vs. our $4,301mm and the Street’s $4,437mm). However, as per the…

Our trip to the Consumer Electronics Show (CES) raised more questions in our minds about Aptiv’s (APTV; $99.49; E/W) just completed acquisition of Wind River and the company’s need to “own” so many sub-system pieces…

Aptiv (APTV; $91.26; E/W) announced on Friday (12/23), that it completed the acquisition of Wind River under revised terms. Specifically, APTV will now acquire Wind River from TPG Capital for $3.5B in cash or below…

Yesterday after the close, Aptiv (APTV; $93.87; E/W) announced that Benjamin Lyon has been appointed Senior Vice President and Chief Technology Officer (CTO), succeeding Glen De Vos, who has served as Senior Vice President and…

We reduce our Q4E and 2023E EPS for Aptiv (APTV; $93.46; E/W) to better account for recent vehicle production volatility in China, the “long tail” of semiconductor constraints, plus YoY currency headwinds while further de-risking…

This morning, Motional, which is Aptiv’s (APTV; $97.79; E/W) joint venture with Hyundai Motor Group (005380.KR; W163,000; NR) announced the launch of its previously disclosed Automated Mobility on Demand (AMoD) service on Uber Technologies’ (UBER;…

We raise 2022E EPS for Aptiv (APTV; $91.62; E/W) from $3.05 to $3.50 while sticking with 2023E EPS at $4.80 after global vehicle production trends in Q3 pulled forward some of its full year shipment…

Aptiv (APTV; $88.00; E/W) reported adjusted Q3 EPS of $1.28, which was well ahead of the Street’s $0.98 and our much more conservative $0.82 on a healthy sales beat ($4,614mm vs. the Street’s $4,331mm and…

We think Aptiv’s (APTV; $91.07; E/W) 2022E guidance is on solid ground ahead of Q3 results and outlook on Thursday (11/3 before market). Recall, APTV targeted 2022E sales, operating margin, and EPS of $17.0-17.3B, 9.0-9.7%…