Bookings
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FY2026 Q1
В пределах ожиданий
Отчётный звонок Aptiv PLC
Вывод Buzzberg
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'.
Вывод Buzzberg 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'. Читать полный анализСвернуть анализ
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.
Выручка$5.086B-1% к/к
EPS$1.71-8% к/к
Валовая маржа18.09%Факт
Операционная маржа8.65%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Diversification
Non-auto revenue grows 9%, software up 10%
Bookings
Expects 2026 bookings exceeding $20 billion
Показать ещё 3 тезиса
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
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $5.086B | -1% к/к |
| EPS | $1.71 | -8% к/к |
| Валовая маржа | 18.09% | Факт |
| Операционная маржа | 8.65% | Факт |
| Свободный денежный поток | $-0.362B | Факт |
| Капзатраты | $0.219B | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| EPS | FY2026 | $5.70–$6.10 | $5.90 | Подтверждён |
AI, капзатраты и спрос
Оценка менеджмента
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.
Оценка AI от менеджмента
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.
Инвестиции и мощности
Management did not provide specific capital expenditure guidance, but mentioned continued investments in supply chain resiliency for semiconductors and bolt-on M&A opportunities.
все упомянутые компании ниже: 5
Компаниис момента звонка
Клиенты
Клиенты
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.
Доказательства
“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.”
Цепочка поставок
Цепочка поставок
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.
Доказательства
“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”
Цепочка поставок
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+.
Доказательства
“We secured $7 billion of new business awards while also delivering solid financial results, including revenue of over $5 billion”
Внешние сигналы
Альфа цепочки поставок · 3с момента звонка
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.
Доказательства
“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.
Доказательства
“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.
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 5. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.