Aptiv PLC (APTV) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

August 4, 2022 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day and welcome to the Aptiv Second Quarter 2022 Earnings Call. My name is Jennifer and I will be your conference operator today. Thank you. Jessica Kourakos, Vice President of Investor Relations and ESG, you may begin your conference.

Jessica Kourakos - VP, IR

Thank you, Jennifer. Good morning and thank you for joining Aptiv’s second quarter 2022 earnings conference call. The press release and related tables, along with the slide presentation can be found on 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 Q2 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 maybe materially different for reasons that we cite in our Form 10-K and other SEC filings, include 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.

With that, I would like to turn the call over to Kevin Clark.

Kevin Clark - Chairman and CEO

Thank you, Jessica and thanks everyone for joining us this morning. Beginning on Slide 3, through the first half of the year, two themes stand out; the first is strong broad-based demand across our portfolio of product offerings reflected in over $20 billion in bookings during the first half of 2022, including a record $14 billion in the second quarter alone, almost double where we were at this time last year. The growth in bookings showcases our strong portfolio of technologies and the increasing strategic value we are providing our customers as they transform to meet the consumer demand for the electrified software-defined vehicle. The second theme relates to the persistent COVID and supply chain issues that continue to constrain automotive production impacting our first half revenue growth and our profitability.