Aptiv reported second quarter 2019 US GAAP earnings of $1.07 per share. Excluding special items, second quarter earnings totaled $1.33 per share.
Second quarter revenue was $3.6bn, a decrease of 2%, while net income was $274m. Operating income margin was 9.2% and 11.2% adjusted.
Adjusted operating income was $405m.
Year to date revenue fell 2% to $7.2bn, net income was $514m, earnings per share $1.99, operating income margin 8.8% and adjusted operating income $750m.
"Aptiv's second quarter performance, including sustained strong above-market growth despite weak global vehicle production, reflects the efforts we have taken to build a more sustainable business," said Kevin Clark, president and chief executive officer.
Q2 2019 net income of $274m and earnings of $1.07 per share compared to $291m and $1.10 per share in Q2 2018.
Second quarter adjusted net income totaled $342m, or $1.33 per share, compared to $372m, or $1.40 per share.
Q2 adjusted operating income was $405m, compared to $474m. Adjusted operating income margin was 11.2%, compared to 12.9% reflecting the unfavorable impacts of foreign currency exchange, vehicle production declines in China and continued incremental investments for growth, partially offset by above-market sales growth.
For 2019 YTD, Aptiva reported net income of $514m and earnings of $1.99 per share, compared to $598m and $2.25 per share in H1 2018. Adjusted net income was $615m, or $2.38 per share, compared to $715m, or $2.69 diluted share, in the prior year period.
Adjusted operating income of $750m for the six months compared to $901m in the prior year period. Adjusted operating income margin was 10.4% compared to 12.3%.
