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Aptiv Cuts FY Sales Outlook

(RTTNews) - Aptiv Plc. (APTV) now expects full year 2021 sales to be in the range of $15.1 billion to $15.5 billion, down 6% at the midpoint versus a previous range of $16.1 billion to $16.4 billion.

Full year 2021 adjusted operating income margins are now expected to be in the range of 7.6% to 8.4% versus a previous range of 9.9% to 10.2%, which includes the impacts of operating inefficiencies, increased supply chain disruption costs and other uncertainties.

The updated outlook reflects a 7% decrease in global vehicle production rates, from 85 million to 79 million units, at the time the previous full year 2021 guidance was issued on August 5, 2021.

Although the company still expects revenue growth over market to be consistent with the previously issued financial guidance of 10% for 2021, global vehicle production for the third quarter is currently expected to be approximately 18 million units, or a decrease of approximately 15% from the 21 million units expected at the time the previous full year guidance was issued.

Global vehicle production for the fourth quarter is currently expected to be approximately 20 million units, or a decrease of approximately 13% from the 23 million units expected previously.
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