Aptiv Q1 Report 2022

For the three months ended March 31, 2022, the Company reported U.S. GAAP revenue of $4.2 billion, an increase of 4% from the prior year period. Adjusted for currency exchange and commodity movements, revenue increased by 4% in the first quarter. This reflects growth of 9% in Asia, which includes growth of 14% in China, 7% in North America and 24% in South America, our smallest region, partially offset by a decline of 5% in Europe.

The Company reported first quarter 2022 U.S. GAAP net income of $73 million and earnings of $0.27 per diluted share, compared to $279 million and $1.03 per diluted share in the prior year period. First quarter Adjusted Net Income, a non-GAAP financial measure defined below, totaled $180 million, or earnings of $0.63 per diluted share, compared to $333 million, or $1.17 per diluted share, in the prior year period.

First quarter Adjusted Operating Income, a non-GAAP financial measure defined below, was $324 million, compared to $474 million in the prior year period. Adjusted Operating Income margin was 7.8%, compared to 11.8% in the prior year period, reflecting adverse impacts from global inflationary pressures, lower global vehicle production rates and the worldwide semiconductor shortage on the global automotive supply chain. Depreciation and amortization expense totaled $191 million, as compared to $193 million in the prior year period.