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FY2026 Q1
예상 부합
Aptiv PLC 실적 발표
Buzzberg 분석
New Aptiv bookings surge 15% to $4.6B in Q1
Aptiv's first earnings call post-spin of its EDS business (Versagen) focused on presenting the new 'Aptiv' as a higher-growth, higher-margin software and hardware company. Management maintained near-term guidance despite citing significant commodity cost headwinds from the Middle East conflict and a customer-specific production disruption, expressing confidence in second-half acceleration. The most notable cross-company signal was a direct rebuttal of rumors regarding GM reducing wiring harness awards, confirming the relationship is healthy. Completed separation of EDS business into new company Versagen, reporting standalone first quarter results for 'new Aptiv'.
Buzzberg 분석 New Aptiv bookings surge 15% to $4.6B in Q1 Aptiv's first earnings call post-spin of its EDS business (Versagen) focused on presenting the new 'Aptiv' as a higher-growth, higher-margin software and hardware company. Management maintained near-term guidance despite citing significant commodity cost headwinds from the Middle East conflict and a customer-specific production disruption, expressing confidence in second-half acceleration. The most notable cross-company signal was a direct rebuttal of rumors regarding GM reducing wiring harness awards, confirming the relationship is healthy. Completed separation of EDS business into new company Versagen, reporting standalone first quarter results for 'new Aptiv'. 전체 분석 보기분석 접기
Aptiv's first earnings call post-spin of its EDS business (Versagen) focused on presenting the new 'Aptiv' as a higher-growth, higher-margin software and hardware company. Management maintained near-term guidance despite citing significant commodity cost headwinds from the Middle East conflict and a customer-specific production disruption, expressing confidence in second-half acceleration. The most notable cross-company signal was a direct rebuttal of rumors regarding GM reducing wiring harness awards, confirming the relationship is healthy. Completed separation of EDS business into new company Versagen, reporting standalone first quarter results for 'new Aptiv'.
- Maintained FY2026 guidance for revenue growth (4%), EBITDA margin (18.6%), EPS ($5.70-$6.10), and FCF ($750M), despite citing ~60bps incremental input cost headwinds.
- Q1 revenue growth was 1%, impacted by a customer supply chain issue (fire at supplier) and China program cancellations, but strength in non-automotive (9%) and software/services (10%) growth.
- Management explicitly addressed and dismissed rumors about GM awarding electric harness business to a competitor, confirming GM remains a strategic customer and the relationship is healthy.
매출$5.086B-1% 전분기 대비
주당순이익(EPS)$1.71-8% 전분기 대비
매출총이익률18.09%보고값
영업이익률8.65%보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Diversification
Non-auto revenue grows 9%, software up 10%
Bookings
Expects 2026 bookings exceeding $20 billion
핵심 내용 3개 더 보기
Guidance
Second-half growth acceleration driven by launches and demand recovery
Suppliers
GM reaffirms Aptiv as 'gold standard' wire harness supplier
Margins
Commodity inflation headwinds up 60 bps since prior guide
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| 매출 | $5.086B | -1% 전분기 대비 |
| 주당순이익(EPS) | $1.71 | -8% 전분기 대비 |
| 매출총이익률 | 18.09% | 보고값 |
| 영업이익률 | 8.65% | 보고값 |
| 잉여현금흐름 | $-0.362B | 보고값 |
| 자본지출 | $0.219B | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 주당순이익(EPS) | FY2026 | $5.70–$6.10 | $5.90 | 유지 |
AI, 자본지출 및 수요 분석
경영진 분석
Measured
Management acknowledged near-term headwinds from input cost inflation and customer mix issues but expressed confidence in offsetting them through performance initiatives and future growth drivers.
경영진의 AI 분석
Management highlighted AI as a structural tailwind, driving demand for high-speed interconnects, edge compute, and software solutions, with growth in robotics and drone partnerships and expansion into non-automotive markets like data centers.
투자 및 생산능력
Management did not provide specific capital expenditure guidance, but mentioned continued investments in supply chain resiliency for semiconductors and bolt-on M&A opportunities.
아래에 언급된 기업 5개 모두 표시
기업발표 이후 수익률
고객
고객
Kevin Clark
Aptiv's new Active segment faces a material revenue headwind in Q1 due to supply chain disruptions at a large North American customer following a fire at their aluminum supplier; this impact is expected to partially recover in the second half. — Indicates a temporary supply chain bottleneck for a major North American OEM, but one that is being managed and resolved over the course of the year.
근거
“GM did award a very small portion of the wire harness content on the T1 program to another supplier. This portion represents a simpler portion of the harness.”
공급망
공급망
Kevin Clark
Aptiv is experiencing a meaningful increase in input costs (copper, gold, silver, resins) due to the Middle East conflict, but a significant portion is expected to be offset by performance initiatives and customer pass-throughs, with some lag. — Suggests sustained pricing pressure for inputs like copper and oil-based resins, but also indicates that companies with contractual pass-throughs or hedging can mitigate the impact.
근거
“The macroeconomic environment remains very dynamic. At present, and as reflected in our first quarter results and full year guide, we're experiencing a meaningful increase in input costs, broadly related to the ongoing conflict in the”
공급망
Kevin Clark
Aptiv's new business awards are strong ($4.6B in Q1, +15% vs 2025 quarterly average), particularly in non-automotive markets (~$900M), driven by diversification into aerospace, defense, and data centers. — Indicates a robust competitive position in diversified end markets, with management expressing high confidence in achieving full-year bookings of $20 billion+.
근거
“We secured $7 billion of new business awards while also delivering solid financial results, including revenue of over $5 billion”
외부 신호
공급망 알파 · 3발표 이후 수익률
Aptiv's new Active segment faces a material revenue headwind in Q1 due to supply chain disruptions at a large North American customer following a fire at their aluminum supplier; this impact is expected to partially recover in the second half.
근거
“a greater than anticipated headwind from lower production at one of our largest North American customers owing to supply chain constraints following a supplier fire. although this should be partially recovered in the second half of the yea…”
Aptiv is experiencing a meaningful increase in input costs (copper, gold, silver, resins) due to the Middle East conflict, but a significant portion is expected to be offset by performance initiatives and customer pass-throughs, with some lag.
근거
“The macroeconomic environment remains very dynamic. At present, and as reflected in our first quarter results and full year guide, we're experiencing a meaningful increase in input costs, broadly related to the ongoing conflict in the Midd…”
Aptiv's new business awards are strong ($4.6B in Q1, +15% vs 2025 quarterly average), particularly in non-automotive markets (~$900M), driven by diversification into aerospace, defense, and data centers.
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 5개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.