Supplier Aptiv said the late 2019 General Motors UAW contract strike had adversely affected its fourth quarter 2019 profits of US$0.90 per share ($1.15 excluding special items) by about $0.28 per share.

Revenue dipped 1% year on year to $3.6bn, a decrease of 1%, increased 2% adjusted for currency exchange, commodity movements and divestitures but was adversely impacted by about $130m by the GM strike, the supplier said.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Net income was $230m and the operating income margin was 9%.

Adjusted operating income margin was 10.8% and adjusted operating income of $388m included adverse strike impacts of about $80m.

Full year 2019 revenue slipped 1% to $14.4bn, but was up 4% adjusted for currency exchange, commodity movements and divestitures and adversely affected by around $200m by the GM strike.

See Also:

Net income was $990m with earnings per share of $3.85. Excluding special items, EPS was $4.80, adversely affected by the strike by $0.38.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Full year operating income margin was 8.9% or 10.8% adjusted and affected by $110m by the GM labour dispute.

Adjusted operating income was $1,548m.

President and CEO Kevin Clark said Aptiv booked new business wins worth $22bn in 2019.

“We enhanced the long-term competitiveness of our business model by continuing to reduce overhead costs and reinvest those savings in the development of advanced technologies. We also continued our track record of value-enhancing and balanced capital deployment, investing in acquisitions and returning approximately $650m of cash to shareholders.”

The supplier forecast Q1 2020 sales of $3,470m-$3,570m and $14,500m-$14,900m for the full year, adjusted operating income of $303m-$328m for Q1 and $1,670m-$1,770m for the full year, adjusted operating income margin of 8.7%-9.2% (Q1) and 11.5%-11.9% (full year) and adjusted income per share of $0.86-$0.94 and $4.75-$5.05 for the first quarter and full year respectively.