Aptiv beats quarterly revenue estimates on price hikes
Suppliers across the board, hobbled by fears of a looming recession, have been passing on rising costs for labor, freight and raw materials to their customers. Aptiv Chief Executive Kevin Clark told analysts in February that the company has been negotiating price increases with its clients through 2022 and intends to continue the conversations in 2023.
Auto parts supplier Aptiv reported first-quarter revenue on Thursday that beat analysts’ estimates, helped by price hikes that offset ongoing supply and production constraints.
Suppliers across the board, hobbled by fears of a looming recession, have been passing on rising costs for labor, freight and raw materials to their customers.
Aptiv Chief Executive Kevin Clark told analysts in February that the company has been negotiating price increases with its clients through 2022 and intends to continue the conversations in 2023.