Aptiv races into pole position with full year earnings for 2017
Aptiv, the automotive parts technology company focused on the trends driving the industry into the future, reported earnings for full year 2017 this month, blowing its own guidance out of the water. The company saw its revenue rise by 5% from the previous year to $12.9 billion. U.S. GAAP net income hit $1.02 billion, or $3.81 per share.
During the fourth quarter, the company also completed the spin-off of its power train systems segment. That company is now Delphi Technologies (Apitv’s previous name was Delphi Automotive), as Aptiv has restructured itself to focus on automated vehicles, “greener” solutions, and the “future” of the auto-industry.
Aptiv’s share price has appreciated by more than 9% year to date
SOURCE: Yahoo Finance
Kevin Clark, Aptiv’s president and CEO spoke to the press, praising his employees and setting an optimistic tone for the coming year. He told reporters:
"Our team's disciplined execution delivered strong financial performance in 2017 that exceeded our expectations, as we continue to invest and reposition the company for the future.”
“Aptiv remains highly focused on delivering value to shareholders through innovation, profitable growth, strong cash flow generation and disciplined capital deployment. Our 2018 outlook reflects that commitment, with double-digit growth in our fastest-growing product lines, including active safety, infotainment, vehicle electrification and connected services. This outlook underscores our unparalleled commitment to solving mobility's toughest challenges."
Dominion holds Aptiv in its Global Trends Managed Fund.
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