Aptiv PLC reported its fourth quarter 2024 financial results, revealing a U.S. GAAP revenue of $4.9 billion, consistent with the prior year period. When adjusted for currency exchange and commodity movements, revenue decreased by 1% compared to a 4% decrease in the prior year period.
The company's U.S. GAAP net income for the fourth quarter was $268 million, with a net income margin of 5.5%. Excluding special items, the diluted earnings per share amounted to $1.75. This is compared to $905 million and $3.22 per diluted share in the prior year period. Adjusted net income for the fourth quarter was $411 million, or $1.75 per diluted share, compared to $395 million, or $1.40 per diluted share in the prior year period.
For the full year 2024, Aptiv reported U.S. GAAP revenue of $19.7 billion, a decrease of 2%. When adjusted for currency exchange and commodity movements, revenue decreased by 2%, compared to a 3% decrease in the prior year period.
The company's U.S. GAAP net income for the full year 2024 was $1,787 million, with a net income margin of 9.1%. Excluding special items, the diluted earnings per share amounted to $6.26. This is compared to $2,909 million and $10.39 per diluted share in the prior year. Adjusted net income for the full year 2024 totaled $1,607 million, or $6.26 per diluted share, compared to $1,376 million, or $4.86 per diluted share, in the prior year.
Aptiv generated $1,060 million of cash from operations in the fourth quarter of 2024, compared to $624 million in the prior year period. For the full year 2024, the company generated net cash flow from operating activities of $2,446 million, compared to $1,896 million in the prior year.
Additionally, during 2024, the company repurchased 44.4 million shares for approximately $3.35 billion, including shares repurchased under the terms of the company’s accelerated share repurchase program. As of December 31, 2024, $2.5 billion remained available for future share repurchases under the existing $5.0 billion authorization.
Looking ahead, the company provided its financial guidance for the first quarter and full year 2025. Aptiv expects net sales for the first quarter to range from $4,635 million to $4,835 million, with a U.S. GAAP net income margin of 4.6% to 5.3%. For the full year 2025, the company anticipates net sales to range from $19,600 million to $20,400 million, with a U.S. GAAP net income margin of 6.0% to 6.5%.
Aptiv intends to execute a tax-free spin-off of its electrical distribution systems business into a new, independent publicly traded company, creating two highly focused public companies strategically positioned to drive incremental value for customers, shareholders, and employees. The transaction is expected to be completed by March 31, 2026.
The company's full year 2025 outlook includes approximately $0.05 and $0.30 per diluted share for the anticipated equity losses to be recognized by Aptiv from the performance of the Motional autonomous driving joint venture.
Today the company's shares have moved 5.7% to a price of $64.78. If you want to know more, read the company's complete 8-K report here.
