Aptiv reports Q2 adjusted EPS $1.58, consensus $1.42

Reports Q2 revenue $5.1B, consensus $5.31B. “Strong execution across both segments and continued cost discipline resulted in record quarterly earnings and 180 basis points of operating margin expansion year-over-year,” said Kevin Clark, chairman and chief executive officer. “Multiple new business awards underscore the strength of our advanced product portfolio and its alignment with the safe, green and connected megatrends. As the world continues to become more electrified and software defined, we are uniquely positioned to enable this transition for our customers and are confident in our ability to deliver significant, sustainable value to our shareholders. We strongly believe Aptiv shares are an attractive investment opportunity, and as a result, we are announcing a new $5 billion share repurchase plan, representing over 25% of our current equity market capitalization, and are proceeding immediately with a $3 billion accelerated share repurchase program.”