Aptiv Reports Second Quarter 2026 Financial Results

Aptiv PLC (NYSE: APTV), a global industrial technology company, today reported financial results for the second quarter of 2026.

Second Quarter Financial Highlights Include:

• U.S. GAAP revenue of $3.3 billion, an increase of 2%
  • Adjusted revenue growth of 2%
• U.S. GAAP net income from continuing operations of $298 million
• Adjusted EBITDA of $613 million
• U.S. GAAP diluted earnings per share from continuing operations of $1.40
  • Adjusted net income per share of $1.63
• Completed the spin-off of Electrical Distribution Systems segment
  • Electrical Distribution Systems segment classified as discontinued operations for all periods presented
  • Received cash dividend of $1.9 billion in connection with the spin-off

Year-to-Date Financial Highlights Include:

• U.S. GAAP revenue of $6.3 billion, an increase of 2%
  • Adjusted revenue growth of 1%
• U.S. GAAP net income from continuing operations of $427 million
• Adjusted EBITDA of $1,106 million
• U.S. GAAP diluted earnings per share from continuing operations of $2.01
  • Adjusted net income per share of $2.56

"We delivered solid results in the second quarter, our first as New Aptiv, with a reacceleration in revenue growth and margin expansion year-over-year,” said Kevin Clark, chair and chief executive officer. “In addition, we continued to demonstrate progress on many of our strategic initiatives, including double digit revenue growth in Non-Automotive revenues, advancing our presence in the Robotics market from partnerships to commercial stage, and securing a major Drone market commercial win in early July. While the macroeconomic landscape for Automotive remains dynamic and customer mix has presented as an incremental headwind, we remain committed to delivering continued revenue growth and strong operating performance this year. Moreover, our strong belief in the long-term value of our business and opportunity for growth across markets has reinforced our commitment in returning capital to shareholders, with half of our expected cash flow for the year already having been allocated towards share repurchases, a level we see continuing for the next few years."

Second Quarter 2026 Results

For the three months ended June 30, 2026, the Company reported U.S. GAAP revenue of $3.3 billion, an increase of 2% from the prior year period. Adjusted for currency exchange and commodity movements, revenue increased by 2% in the second quarter. This reflects growth of 10% in North America, 6% in Asia Pacific, which includes growth of 5% in China, partially offset by declines of 8% in EMEA and 4% in South America, our smallest region.

The Company reported second quarter 2026 U.S. GAAP net income from continuing operations of $298 million, net income margin from continuing operations of 9.1% and earnings from continuing operations of $1.40 per diluted share, compared to U.S. GAAP net income from continuing operations of $265 million, net income margin from continuing operations of 8.3% and earnings from continuing operations of $1.21 per diluted share in the prior year period. Second quarter Adjusted Net Income totaled $345 million, or earnings of $1.63 per diluted share, compared to $285 million, or $1.31 per diluted share, in the prior year period.

The Company reported second quarter Adjusted EBITDA of $613 million, compared to $547 million in the prior year period. Adjusted EBITDA margin was 18.7%, compared to 17.1% in the prior year period, primarily reflecting increased volumes and favorable impacts of foreign currency exchange, partially offset by increased commodity costs.

The Company reported second quarter Adjusted Operating Income of $473 million, compared to $410 million in the prior year period. Adjusted Operating Income margin was 14.4%, compared to 12.8% in the prior year period.

Depreciation and amortization expense totaled $195 million, compared to $190 million in the prior year period. Interest expense for the second quarter totaled $62 million, compared to $92 million in the prior year period.

Tax expense in the second quarter of 2026 was $52 million, compared to $16 million in the prior year period.

Net cash flow provided by operating activities from continuing operations totaled $137 million in the second quarter, compared to $326 million in the prior year period. The Company generated Free Cash Flow of $12 million in the second quarter, compared to $219 million generated in the prior year period.

Year-to-Date 2026 Results

For the six months ended June 30, 2026, the Company reported U.S. GAAP revenue of $6.3 billion, an increase of 2% from the prior year period. Adjusted for currency exchange and commodity movements, revenue increased by 1% during the period. This reflects growth of 9% in North America and 1% in Asia Pacific, which includes a decline of 4% in China, partially offset by declines of 7% in EMEA and 3% in South America, our smallest region.

The Company reported 2026 year-to-date U.S. GAAP net income from continuing operations of $427 million, net income margin from continuing operation of 6.8% and earnings from continuing operations of $2.01 per diluted share, compared to U.S. GAAP net income from continuing operations of $125 million, net income margin from continuing operation of 2.0% and earnings from continuing operations of $0.55 per diluted share in the prior year period. Year-to-date Adjusted Net Income totaled $545 million, or earnings of $2.56 per diluted share, compared to $517 million, or $2.30 per diluted share, in the prior year period.

For the 2026 year-to-date period, The Company reported Adjusted EBITDA of $1,106 million, compared to $1,059 million in the prior year period. Adjusted EBITDA margin was 17.5%, compared to 17.1% in the prior year period, primarily reflecting increased volumes and favorable impacts of foreign currency exchange, partially offset by increased commodity costs.

The Company reported Adjusted Operating Income of $829 million for the year-to-date 2026 period, compared to $789 million in the prior year period. Adjusted Operating Income margin was 13.1%, compared to 12.8% in the prior year period.

Depreciation and amortization expense totaled $384 million, compared to $379 million in the prior year period. Interest expense for the year-to-date period totaled $146 million, compared to $185 million in the prior year period.

Tax expense in the six months ended June 30, 2026 was $94 million. Tax expense in the six months ended June 30, 2025 was $342 million, which primarily reflects an increase to valuation allowances of approximately $300 million on deferred tax assets impacted by the OECD Administrative Guidance issued in the first quarter of 2025.

Net cash flow provided by operating activities from continuing operations totaled $82 million in the six months ended June 30, 2026, compared to $531 million in the prior year period. The Company reported negative Free Cash Flow of $196 million in the six months ended June 30, 2026, compared to $264 million generated in the prior year period.

Reconciliations of Adjusted Revenue Growth, Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income, Adjusted Net Income Per Share and Free Cash Flow, which are non-GAAP measures, to the most directly comparable financial measures, respectively, calculated and presented in accordance with accounting principles generally accepted in the United States (“GAAP”) are provided in the attached supplemental schedules.

Debt Redemptions and Share Repurchases

In April 2026, the Company redeemed $1,847 million of aggregate principal amount of certain senior notes principally utilizing proceeds from the cash distribution received from Versigent in connection with the spin-off.

The Company repurchased and retired 4.1 million shares for $250 million in the second quarter of 2026, bringing the year-to-date total to $325 million. As of June 30, 2026, $1.8 billion remained available for future share repurchases under the Company’s existing authorization.

EDS Spin-Off

As previously disclosed, the spin-off of the Company’s former Electrical Distribution Systems segment into a new independent publicly traded company, Versigent PLC, was completed on April 1, 2026. The results of the Electrical Distribution Systems business through April 1, 2026 are presented as discontinued operations separate from the Company’s continuing operations for all periods presented. In connection with the spin-off, Aptiv received a dividend of approximately $1.9 billion from Versigent, which the Company used to opportunistically redeem outstanding debt prior to maturity.

Q3 and Full Year 2026 Outlook

The Company’s third quarter and full year 2026 financial guidance is as follows. This reflects Aptiv without the EDS business, which is presented as discontinued operations.

Conference Call and Webcast

The Company will host a conference call to discuss these results at 8:00 a.m. (ET) today, which is accessible by dialing +1.800.330.6710 (U.S.) or +1.213.279.1505 (international) or through a webcast at ir.aptiv.com. The conference ID number is 8103952. A slide presentation will accompany the prepared remarks and has been posted on the investor relations section of the Company’s website. A replay will be available two hours following the conference call.

Use of Non-GAAP Financial Information

This press release contains information about Aptiv’s financial results which are not presented in accordance with GAAP. Specifically, Adjusted Revenue Growth, Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income, Adjusted Net Income Per Share and Free Cash Flow are non-GAAP financial measures. Adjusted Revenue Growth represents the year-over-year change in reported net sales relative to the comparable period, excluding the impact on net sales from currency exchange, commodity movements, acquisitions, divestitures and other transactions. Adjusted EBITDA represents net income (loss) before depreciation and amortization (including asset impairments), interest expense, income tax (expense) benefit, other income (expense), net, equity income (loss), net of tax, income (loss) from discontinued operations, restructuring and other special items. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of net sales. Adjusted Operating Income represents net income (loss) before interest expense, other income (expense), net, income tax (expense) benefit, equity income (loss), net of tax, income (loss) from discontinued operations, amortization, restructuring, separation costs related to the spin-off of the Electrical Distribution Systems business, other acquisition and portfolio project costs (which includes costs incurred to integrate acquired businesses and to plan and execute product portfolio transformation actions, including business and product acquisitions and divestitures), goodwill and other asset impairments, compensation expense related to acquisitions and gains (losses) on business divestitures and other transactions. Adjusted Operating Income margin is defined as Adjusted Operating Income as a percentage of net sales.

Adjusted Net Income represents net income (loss) attributable to Aptiv before income (loss) from discontinued operations, amortization, restructuring and other special items, including the tax impact thereon. Adjusted Net Income Per Share represents Adjusted Net Income divided by the Weighted Average Number of Diluted Shares Outstanding for the period.

Free cash flow represents cash provided by (used in) operating activities from continuing operations less capital expenditures.

Management believes the non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the Company’s financial position, results of operations and liquidity. In particular, management believes Adjusted Revenue Growth, Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income, Adjusted Net Income Per Share and Free Cash Flow are useful measures in assessing the Company’s ongoing financial performance that, when reconciled to the corresponding GAAP measure, provide improved comparability between periods through the exclusion of certain items that management believes are not indicative of the Company’s core operating performance and that may obscure underlying business results and trends. Management also uses these non-GAAP financial measures for internal planning and forecasting purposes.

Such non-GAAP financial measures are reconciled to the most directly comparable GAAP financial measures in the attached supplemental schedules at the end of this press release. Non-GAAP measures should not be considered in isolation or as a substitute for our reported results prepared in accordance with GAAP and, as calculated, may not be comparable to other similarly titled measures of other companies.

About Aptiv

Aptiv is a global industrial technology leader delivering advanced solutions people trust when it matters most across automotive, commercial vehicle, aerospace and defense, telecom and datacom, and other diversified industrial end markets. Our differentiated portfolio enables devices and systems to sense, think, act, and continuously optimize performance. Building on decades of innovation, Aptiv brings global scale and a resilient, localized value chain to customers across the globe. Learn more at aptiv.com.

Forward-Looking Statements

This press release, as well as other statements made by Aptiv PLC (the “Company”), contain forward-looking statements that reflect, when made, the Company’s current views with respect to current events, certain investments and acquisitions and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company’s operations and business environment, which may cause the actual results of the Company to be materially different from any future results. All statements that address future operating, financial or business performance or the Company’s strategies or expectations are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s filings with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. It should be remembered that the price of the ordinary shares and any income from them can go down as well as up. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law.