Aptiv has reported second-quarter net income of US$291m, down 2% from the comparable period last year, while revenue rose 12% to US$3.7bn.
“During the second quarter, we delivered record double-digit revenue growth, operating income, earnings per share and free cash flow,” said Aptiv president and CEO, Kevin Clark. “We continued to see strong new business awards, totalling US$11bn year-to-date, focused on delivering the software capabilities, advanced computing platforms and networking architecture that are making the future of mobility real.
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“Also in the quarter, we closed on the acquisition of KUM, an accretive bolt-on to our engineered components business, and announced the acquisition of Winchester Interconnect, a leading provider of custom engineered interconnect solutions for harsh environment applications, further establishing Aptiv as a market leader of connectivity solutions and reinforcing our strategy to diversify our business.
“As we look to the second half of 2018, we expect our portfolio of advanced technologies to drive continued above market growth, as reflected in our increased outlook for the year.”
