Financial Data and Key Metrics Changes - Revenue totaled $4.8 billion, down 1% year-over-year due to lower vehicle production in North America and Europe and negative customer mix [5][21] - Operating income reached a record $572 million, an increase of over 5%, reflecting strong operating execution and ongoing cost reduction initiatives [5][21] - Earnings per share hit a record $1.69, a 46% increase from the prior year, driven by higher operating income and share repurchases [5][23] - Operating cash flow totaled $273 million, positioning the company to accelerate its deleveraging plan [5][31] Business Line Data and Key Metrics Changes - Advanced Safety and User Experience (ASUX) segment revenues were flat, with Active Safety revenues increasing by 9% and User Experience down 14% due to the roll-off of legacy programs [25][13] - Engineered Components Group (ECG) revenues increased by 1%, driven by 24% growth in China, offsetting declines in North America and Europe [26][16] - Electrical Distribution Systems (EDS) revenues declined by 3%, primarily due to lower light vehicle production, but bookings included over $1 billion in new business awards [27][18] Market Data and Key Metrics Changes - In North America, revenues were down 2%, while in Europe, revenues decreased by 4% year-over-year [24] - In China, revenues grew by 2% year-over-year, driven by growth with local OEMs, despite significant production volume declines with a specific EV customer [24][26] Company Strategy and Development Direction - The company is focused on the transition to electrified, software-defined, and connected solutions, positioning itself to enable this transition across multiple end markets [7][35] - The separation of the EDS business is on track, expected to create two independent public companies with unique product portfolios and financial profiles [35][19] - The company is proactively adapting its business to evolving trade policies and customer needs, leveraging a localized supply chain and flexible cost structure [10][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth drivers of the business, despite current uncertainties due to rapid changes in global trade policies [8][9] - The company is closely monitoring demand changes and plans to update its full-year outlook when visibility improves [8][9] - Management highlighted strong cash flow generation and a robust balance sheet, providing flexibility to execute strategic initiatives [31][32] Other Important Information - The company completed a $3 billion accelerated share repurchase program, reducing its share count by 18% [6] - Bookings for the first quarter were nearly $5 billion, with strong traction in China and across various segments [11][12] Q&A Session Summary Question: Outlook and Tariff Impact - Management confirmed that the second quarter guidance is based on current visibility, with a focus on vehicle production schedules and customer pricing strategies [37][41] Question: High-Value Production Relocation - Management indicated that high-value production could potentially move back to the U.S., but this does not include the wire harness business [42][44] Question: Advanced Content Bidding Launches - Management noted that activity levels remain robust, although customer award timelines have been extended due to macro uncertainties [48][49] Question: EDS Spin and Macro Uncertainty - Management affirmed that the plan to separate EDS remains unchanged, focusing on growth and cost minimization [50][51] Question: Volume Decline and Guidance - Management clarified that the guidance reflects a volume question for the second half of the year, with no direct tariff impact expected [54][60] Question: China Market Performance - Management acknowledged strong growth in China, despite being impacted by a significant global EV manufacturer [62][63] Question: Tariff Commentary - Management confirmed that 99% of goods imported are USMCA compliant, implying minimal tariff costs [78][79]

Financial Performance - Q1 2025 - Reported revenue was $4825 million, a decrease of (2%) year-over-year[28,55] - Adjusted revenue growth, excluding foreign exchange and commodities impact, was (1%)[28,55] - EBITDA increased by 5% to $758 million, with an EBITDA margin of 15.7%, a 100 bps increase[28] - Operating income reached a record $572 million for the first quarter, with an operating margin of 11.9%, up 80 bps[28] - Earnings per share (EPS) stood at $1.69, including a $0.21 benefit from Motional EPS[28] - Operating cash flow was $273 million, driven by higher year-over-year earnings and continued inventory management[28] Segment Performance - Q1 2025 - Advanced Safety & User Experience (AS&UX) reported flat revenue growth, with a 9% adjusted growth in Active Safety and 12% in SV Compute & Software[28,35] - Engineered Components Group (ECG) saw a 1% adjusted revenue growth, with China up 24%, and an 8% increase in operating income[28,39] - Electrical Distribution Systems (EDS) experienced a (3%) adjusted revenue decline due to lower vehicle production, but a 5% increase in operating income[28,43] Guidance and Outlook - The company provided Q2 2025 revenue guidance of $4920 - $5120 million and full-year 2025 revenue guidance of $19600 - $20400 million[45] - Q2 2025 adjusted revenue growth is expected to be around (1%), with NA ~flat, EU (3%), and China (4%)[45] - Full-year 2025 adjusted revenue growth is projected at approximately 2%[45]

"Our solid first quarter performance validates our industry-leading portfolio, global capabilities, and relentless focus on operational excellence," said Kevin Clark, chair and chief executive officer. "The company delivered record first quarter adjusted earnings per share, driven by strong execution and proactive capital allocation initiatives. As we navigate through near-term geopolitical uncertainties, our robust business model allows us to remain agile and responsive in a dynamic macroenvironment. Longe ...

针对部分市场人士有关"智驾产业最终可能出现赢家通吃"的观点，杨晓明表示，智驾领域较难形成垄 断。由于中国市场需求高度多样化，且产业链支持体系尚未固化，不同智驾企业仍可通过差异化路径探 索生存发展空间。从过往中国整车行业的整合历程来看，由于中国市场空间巨大，企业只要找到可行的 模式就可持续发展，智驾产业最终预计也将呈现"部分头部企业主导+多元参与者共存"的格局，这一过 程可能持续较长时间。 据了解，基于风河软件底座，并整合先进的AI技术，安波福中国在本次车展上展出了多款先进、可 靠、好用、高性价的新一代智能汽车本地化解决方案，涵盖端到端高级辅助驾驶、人工智能/机器学习 赋能下的感知系统、跨域融合数字基座等，致力于以值得信赖的本土化技术体系和交付能力赋能整车企 业。 杨晓明表示，中国智驾装机量增长的趋势仍将长期持续，原因在于相关技术已临近突破临界点。此外， 监管部门反应迅速、调整灵活，能够针对问题快速形成可执行方案，也有利于智驾产业的发展。 中证报中证网讯(记者王辉)为期10天的2025上海车展日前在上海开幕，全球科技公司安波福在本次车展 上首发了多款为中国市场量身定制的本地化创新方案。安波福中国及亚太区总裁杨晓 ...

上海车展正在进行中，安波福中国带来了包括端到端智能辅助驾驶、跨域融合数字基座、AI座舱等解决方案。安波福中国总裁杨晓明在接受新京报贝壳财 经记者采访时表示，以上方案均已能在国产供应链基础上实现100%国产化。 他认为，智能驾驶近期有所降温，进入理性发展期，未来预期较为积极。安波福在做好智能驾驶技术的同时，将继续推进国产化，并帮助中国车企走向全球 市场。 安波福中国总裁杨晓明。受访者供图 智能驾驶进入理性发展期 新京报贝壳财经：在智能驾驶节奏放缓、竞争加剧的背景下，安波福如何看待技术路线的选择与市场竞争？ 从长远视角来看，智能驾驶技术所具备的安全、便捷与效率等核心价值，依然是交通出行领域的刚性需求。随着系统架构持续优化、算法不断成熟以及成本 的降低，未来智能驾驶有望突破现有应用边界，从高速、园区等特定场景向全场景拓展，逐步从辅助驾驶迈向高度自动驾驶甚至无人驾驶。 杨晓明：这是行业从狂热的资本追捧、概念炒作回归到理性发展的必然过程。前期，行业对技术突破难度、法规政策复杂性和市场接受速度预估不足，大量 资源投入未达预期，资本趋于谨慎。与此同时，智能驾驶技术在复杂场景下的决策算法、高可靠传感器技术等关键领域遭遇瓶颈， ...

Group 1 - The global automotive manufacturing landscape is undergoing significant transformation by 2025, with companies like Aptiv actively adjusting to these changes [1] - Aptiv is promoting a fully localized supply chain strategy in China, aiming for self-sufficiency in its OEM customer business and local OEM export business [1][2] - The company emphasizes a "China for China" approach, ensuring that its intellectual property and R&D capabilities are rooted in China [2] Group 2 - At the Shanghai Auto Show, Aptiv showcased localized intelligent automotive solutions, including a real-time operating system and virtualization platform, focusing on emerging industries [2] - The company aims to achieve 100% localization in its solutions, allowing for flexible partnerships with domestic suppliers [2][3] - The current domestic chip localization rate in China is only 15%, indicating significant room for growth in this area [2] Group 3 - Aptiv acknowledges the challenges in achieving higher localization rates for automotive-grade chips and is committed to strengthening its supply chain in China [3] - The company is actively collaborating with local partners to create an ecosystem that supports domestic OEMs in their export efforts [5][6] - Aptiv's strategy includes leveraging its capabilities to support the export of Chinese automotive innovations, particularly in the electric vehicle sector [6]

In the latest trading session, Aptiv PLC (APTV) closed at $55.96, marking a +1.63% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.74%. At the same time, the Dow added 0.05%, and the tech-heavy Nasdaq gained 1.26%.Shares of the company witnessed a loss of 11.55% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 6.15% and the S&P 500's loss of 4.77%.Investors will be eagerly watching for the performance of Apt ...

Core Insights - Aptiv PLC is expected to release its first-quarter 2025 results on May 1, with consensus estimates for earnings per share (EPS) at $1.55 and revenues at $4.78 billion, indicating a 33.62% growth in EPS year-over-year [1][2] Financial Performance - The Zacks Consensus Estimate for Aptiv's quarterly revenues suggests a year-over-year decline of 2.40%, despite the company beating earnings estimates in the last four quarters with an average surprise of 9.88% [2] - In Q4 2024, Aptiv reported an adjusted EPS of $1.75, surpassing the Zacks Consensus Estimate of $1.66, and net sales of $4.91 billion, exceeding the estimate of $4.88 billion, with the top line remaining flat year-over-year [2] Revenue Projections - For full-year 2025, Aptiv projects revenues between $19.6 billion and $20.4 billion, reflecting a 2% year-over-year increase at the midpoint, driven by mid-single-digit growth in the AS&UX business and low-single-digit growth in the ECG business [3] Cost Management and Margins - The advanced safety and user experience segment is benefiting from cost reductions by shifting AI workloads to the edge, contributing to improved margins [4] - For 2025, Aptiv expects an adjusted EBITDA margin in the range of 15.8% to 16.1%, compared to 15.7% reported in 2024 [5] Earnings Expectations - Aptiv has a positive Earnings ESP of +3.50%, indicating a likelihood of an earnings beat for the upcoming quarter, supported by a Zacks Rank of 3 [6][7]

Company Performance - Aptiv PLC (APTV) closed at $53.31, reflecting a +1.97% increase compared to the previous day, outperforming the S&P 500's gain of 1.67% [1] - Over the past month, Aptiv's shares have decreased by 18.93%, which is worse than the Auto-Tires-Trucks sector's loss of 6.08% and the S&P 500's loss of 6.57% [1] Earnings Expectations - The upcoming earnings report for Aptiv is scheduled for May 1, 2025, with an expected EPS of $1.53, representing a 31.9% increase from the same quarter last year [2] - The consensus estimate projects revenue of $4.77 billion, indicating a 2.58% decline from the equivalent quarter last year [2] Full Year Projections - For the full year, the Zacks Consensus Estimates forecast earnings of $7.26 per share and revenue of $19.71 billion, showing changes of +15.97% and 0% respectively from the previous year [3] Analyst Projections - Recent shifts in analyst projections for Aptiv PLC should be monitored, as positive estimate revisions are seen as a good sign for the company's business outlook [4] Zacks Rank and Performance - The Zacks Rank system, which includes estimate changes, currently ranks Aptiv PLC at 3 (Hold), with a 0.8% decline in the Zacks Consensus EPS estimate over the past month [6] - Historically, 1 ranked stocks in the Zacks Rank system have delivered an average annual return of +25% since 1988 [6] Valuation Metrics - Aptiv PLC has a Forward P/E ratio of 7.2, which is lower than the industry's average Forward P/E of 9.52 [7] - The company has a PEG ratio of 0.47, compared to the Automotive - Original Equipment industry's average PEG ratio of 0.81 [7] Industry Context - The Automotive - Original Equipment industry, part of the Auto-Tires-Trucks sector, holds a Zacks Industry Rank of 164, placing it in the bottom 34% of over 250 industries [8] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]

上海车展期间，安波福（APTV：NYSE)表示，将支持全面芯片国产化。安波福是一家跨国汽车零部 件供应商，中国及亚太区总裁杨晓明表示："我们正在全力、全速推进本地化战略2.0，构建起全面、 彻底、完整的中国方案。"汽车电动化和智能化变局中，芯片发挥越来越重要作用。安波福基于国产 SoC芯片开发的ADAS方案已经获得国内头部新势力车企的定点。 ...