Aptiv Plc (APTV) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 5, 2022 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day and welcome to Aptiv's First Quarter 2022 Earnings Conference Call. My name is Marion and I'll be your conference operator today. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. Thank you.

Chris Tillett, Aptiv's Director of Investor Relations, you may begin your conference.

Christopher Tillett - Director of IR

Thank you, Marion. Good morning. And thank you for joining Aptiv's first quarter 2022 earnings conference call. The press release and related tables along with the slide presentation can be found at the Investor Relations portion of our website at aptiv.com. Today's review of our financials exclude amortization, restructuring and other special items, and will address the continuing operations of Aptiv.

The reconciliations between GAAP and non-GAAP measures for our Q1 financials as well as for our full-year financials, as well as our full-year 2022 outlook are included at the back of the slide presentation and the earnings press release.

During today's call, we will be providing certain forward-looking information, which reflects Aptiv's current view of future financial performance and may be materially different for reasons that we cite in our Form 10-K and other SEC filings, including uncertainties posed by the COVID-19 pandemic, the ongoing supply chain disruptions and the conflict between Ukraine and Russia.

Joining us today will be Kevin Clark, Aptiv's Chairman and CEO, and Joe Massaro, CFO and Senior Vice President of Business Operations. Kevin will provide a strategic update on the business and Joe will cover the financial results in more detail before we open the call to Q&A.

And with that, I'd like to turn the call over to Kevin Clark.

Kevin Clark - Chairman and CEO

Thank you, Chris. And thanks, everyone, for joining us this morning. Beginning on slide 3, Aptiv had a solid start to the year showcasing our ability to continue to outperform in a volatile market. Revenues totaled $4.2 billion, up 4% from the prior year, driven by strong demand across our portfolio of safe green and connected technologies.

Operating income and earnings per share totaled $324 million and $0.63 cents, respectively, reflecting continued revenue growth despite a decline in vehicle production in the quarter, more than offset by material inflation and increased operating costs associated with the ongoing supply chain disruption.