Stock Monitor: American Axle & Manufacturing Holdings Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 1, 2018 / If you want access to our free earnings report on Aptiv PLC (NYSE: APTV), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=APTV. Aptiv reported its first quarter fiscal 2018 operating and financial results on May 02, 2018. The global technology Company outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for American Axle & Manufacturing Holdings, Inc. (NYSE: AXL), which also belongs to the Consumer Goods sector as the Company Aptiv. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Aptiv most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=APTV

Earnings Highlights and Summary

Aptiv reported net sales of $3.63 billion in the first quarter of 2018, reflecting an increase of 15% compared to net sales of $3.14 billion in Q1 2017. Adjusted for currency exchange, commodity movements, acquisitions and divestitures, the Company's revenue increased by 8% on a y-o-y basis in the reported quarter. Aptiv's reported numbers beat analysts' estimates by $260 million.

During Q1 2018, Aptiv recorded operating income of $374 million, up 28% compared to $293 million in Q1 2017. For the reported quarter, the Company's adjusted operating income was $427 million, up 21% compared to $352 million in the prior year's corresponding period. For Q1 2018, Aptiv's adjusted operating income margin was 11.8% versus 11.2% in the prior year's comparable period, reflecting sales growth, the beneficial impacts of cost reduction initiatives, and the absence of certain warranty charges recorded in the prior year's same period.

During Q1 2018, Aptiv's depreciation and amortization (D&A) expense totaled $155 million, an increase from $126 million in Q1 2017. The Company's tax expense in the reported quarter was $59 million, resulting in an effective tax rate of approximately 16% compared to $19 million, or an effective rate of 8%, in the prior year's same period. The increase in the effective tax rate reflected the geographic mix of pretax earnings and the impact of favorable discrete items recorded in the prior period.

Aptiv reported US GAAP net income from continuing operations of $307 million and earnings from continuing operations of $1.15 per diluted share in Q1 2018 compared to $220 million and $0.82 per diluted share in Q1 2017. The Company's adjusted net income for the reported quarter jumped 19% to $1.29 per diluted share compared to $1.08 per diluted share in the prior year's same period, and ahead of Wall Street's estimates of $1.19 per share.

Cash Matters

Aptiv generated net cash flow from continuing operating activities of $186 million in Q1 2018. As of March 31, 2018, the Company had cash and cash equivalents of $1.3 billion and total available liquidity of $3.7 billion.

During Q1 2018, Aptiv repurchased 1.68 million shares for approximately $149 million under its existing authorized share repurchase program, leaving approximately $840 million available for future share repurchases.

Outlook

For the full year 2018, Aptiv is forecasting net sales to be in the range of $13.95 billion to $14.35 billion. The Company is estimating operating income in the range of $1.75 billion to $1.83 billion, and earnings per share to be in the band of $5.20 to $5.40 per share, up from its prior guidance range of $5.00 to $5.20 per share. For FY18, Aptiv is anticipating operating cash flow to be approximately $1.6 billion, up mid-teens over 2017.

For the second quarter 2018, Aptiv's revenues is projected in the range of $3.50 billion to $3.60 billion. The Company is expecting operating margins to expand 30 to 50 basis points and earnings in the band of $1.33 to $1.38 per diluted share.

Stock Performance Snapshot

May 31, 2018 - At Thursday's closing bell, Aptiv's stock advanced 1.07%, ending the trading session at $97.50.

Volume traded for the day: 2.23 million shares, which was above the 3-month average volume of 1.43 million shares.

Stock performance in the last month ? up 15.34%; previous three-month period ? up 11.09%; past twelve-month period ? up 32.32%; and year-to-date ? up 14.94%

After yesterday's close, Aptiv's market cap was at $25.82 billion.

Price to Earnings (P/E) ratio was at 23.33.

The stock has a dividend yield of 0.90%.

The stock is part of the Consumer Goods sector, categorized under the Auto Parts industry.

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