Aptiv PLC Announces Fourth Quarter and Full Year 2024 Financial Results
Dublin, Ireland — Aptiv PLC , a leading global technology company committed to creating a safer, greener, and more connected world, today announced its financial results for the fourth quarter and full year ending December 31, 2024. Despite facing dynamic market conditions, the company showcased resilience, operational excellence, and strong strategic positioning.
Fourth Quarter 2024 Financial Performance
Aptiv reported U.S. GAAP revenue of $4.9 billion for the fourth quarter of 2024, consistent with the same period in 2023. Adjusted for currency exchange and commodity price fluctuations, revenue saw a modest decline of 1%, compared to an Automotive Weighted Market (AWM) decrease of 4%.
Key highlights for Q4 2024 include:
- Revenue: $4.9 billion, stable year-over-year.
- Net Income: $268 million with a net income margin of 5.5%.
- Diluted Earnings Per Share (EPS): $1.14 (GAAP), and $1.75 excluding special items.
- Operating Income: $479 million (GAAP), reflecting an operating income margin of 9.8%.
- Adjusted Operating Income: $623 million, with a 12.7% margin.
- Adjusted EBITDA: $811 million, representing a margin of 16.5%.
- Cash from Operations: $1.06 billion, demonstrating strong liquidity and financial health.
Regional performance revealed declines in Europe (-8%), offset by growth in North America (+3%) and Asia (+3%, with 4% growth in China). South America maintained stable performance.
Full Year 2024 Financial Overview
For the full year, Aptiv recorded U.S. GAAP revenue of $19.7 billion, reflecting a 2% decrease from 2023. After adjusting for currency and commodity movements, revenue also declined by 2%, compared to a global AWM decrease of 3%.
Key full-year highlights include:
- Revenue: $19.7 billion, down 2% year-over-year.
- Net Income: $1.787 billion, with a net income margin of 9.1%.
- Diluted EPS: $6.96 (GAAP), and $6.26 excluding special items.
- Operating Income: $1.842 billion (GAAP), with a 9.3% margin.
- Adjusted Operating Income: $2.366 billion, with a 12.0% margin.
- Adjusted EBITDA: $3.097 billion, yielding a 15.7% margin.
- Cash from Operations: $2.446 billion, reflecting robust cash generation.
- Share Repurchases: $4.1 billion funded, repurchasing 44.4 million shares.
Leadership Commentary
Kevin Clark, Aptiv’s Chairman and CEO, expressed confidence in the company’s trajectory:
“Our full-year results validate Aptiv’s operational excellence and the strength of our product portfolio. We achieved record operating cash flow and strong earnings growth, with a 140 basis point improvement in operating margins year-over-year. Our strategic focus on cost discipline and execution has driven these outcomes. Additionally, we secured record fourth-quarter new business awards, marking our third consecutive year with over $30 billion in bookings.”
Clark emphasized Aptiv’s readiness to navigate evolving market conditions while enabling customers’ transitions to more feature-rich, software-defined vehicles. The planned spin-off of the Electrical Distribution Systems (EDS) business in 2026 marks a significant milestone in Aptiv’s evolution, positioning both entities for focused growth.
Strategic Developments and Business Realignment
Aptiv announced plans to spin off its EDS business into an independent, publicly traded company. This strategic move aims to create two highly focused companies, each positioned to address distinct market opportunities more effectively. The tax-free spin-off is expected to be completed by March 31, 2026.
In preparation, Aptiv will realign its operations into three reportable segments starting Q1 2025:
- Electrical Distribution Systems
- Engineered Components Group
- Advanced Safety and User Experience
This realignment supports Aptiv’s goal of enhancing operational focus and driving incremental value for customers, shareholders, and employees.
Financial Metrics and Reconciliations
Aptiv provided detailed reconciliations of non-GAAP financial measures, including Adjusted Revenue Growth, Adjusted Operating Income, Adjusted EBITDA, and Adjusted Net Income, to their most directly comparable GAAP measures. These reconciliations are included in the supplemental schedules accompanying the earnings release.
Share Repurchase Program Update
In 2024, Aptiv repurchased shares worth approximately $3.35 billion, including transactions under its Accelerated Share Repurchase (ASR) program. As of December 31, 2024, $2.5 billion remained available under the existing $5.0 billion share repurchase authorization. All repurchased shares have been retired.
Aptiv PLC Announces Fourth Quarter and Full Year 2024 Financial Results
Dublin, Ireland — Aptiv PLC (NYSE: APTV), a leading global technology company committed to creating a safer, greener, and more connected world, today announced its financial results for the fourth quarter and full year ending December 31, 2024. Despite facing dynamic market conditions, the company showcased resilience, operational excellence, and strong strategic positioning.
Regional performance revealed declines in Europe (-8%), offset by growth in North America (+3%) and Asia (+3%, with 4% growth in China). South America maintained stable performance.
