Quarterly ResultMay 5, 2026, 06:56 AM
Aptiv Q1 Revenue $5.1B, +5%; Reports $0.88 GAAP EPS; Spin-off Complete
AI Summary
Aptiv PLC reported Q1 2026 financial results, with U.S. GAAP revenue increasing 5% to $5.1 billion and U.S. GAAP diluted earnings per share of $0.88, a significant improvement from a net loss in the prior year. The company successfully completed the spin-off of its Electrical Distribution Systems business into Versigent PLC on April 1, 2026, sharpening its focus on advanced software and hardware. Aptiv also provided an outlook for Q2 and full-year 2026 for the "New Aptiv" without the spun-off business.
Key Highlights
- Successfully completed the spin-off of its Electrical Distribution Systems business into Versigent PLC on April 1, 2026.
- Q1 2026 U.S. GAAP revenue increased 5% to $5.1 billion, or 1% adjusted for currency and commodity movements.
- Q1 2026 U.S. GAAP net income was $189 million, or $0.88 per diluted share, compared to a net loss of $11 million in Q1 2025.
- Adjusted diluted EPS for Q1 2026 was $1.71, up from $1.69 in the prior year period.
- Redeemed $266 million of senior notes in Q1 2026 and $1,847 million in April 2026, utilizing spin-off proceeds.
- Repurchased 1.0 million shares for $75 million during the first quarter of 2026.
- Q1 2026 segment net sales: Electrical Distribution Systems $2.21 billion (+9%), Engineered Components $1.66 billion (+5%), Intelligent Systems $1.43 billion (+1%).
- Forecasts Q2 2026 net sales for New Aptiv between $3.2 billion and $3.4 billion, and full-year 2026 free cash flow of $650 million to $850 million.