Aptiv reported third-quarter revenue of USD 3.2 billion, up 2 per cent year on year and a record for the period. Net income from continuing operations was USD 194 million and adjusted EBITDA USD 567 million.
Revenue growth came despite pressure in the core automotive business. On the earnings call, Aptiv disclosed that automotive revenue fell 1 per cent in the quarter while non-automotive revenue grew 11 per cent.
Segment and regional split
The smart systems segment recorded USD 1.402 billion, down 3 per cent, with automotive-related revenue down 4 per cent and software and services down 11 per cent. Engineered components generated USD 1.835 billion, up 7 per cent, including 2 per cent growth in automotive-related revenue.
Regional performance diverged. North America grew 5 per cent. Europe fell 5 per cent, which Aptiv attributed mainly to weakness at two German luxury carmakers. China grew 1 per cent, with smart systems growing for a second consecutive quarter.
An ADAS win with a 2028 delivery date
Aptiv said on the call that it had recently won a new advanced driver assistance order, replacing a competitor’s existing vision, parking and surround-view systems with an integrated platform. Revenue contribution is expected to become more visible in 2028.
Cumulative revenue for the first nine months reached USD 9.5 billion, up 2 per cent.
With automotive growth under pressure, the company is expanding into data centres and robotics in search of new revenue.
The pattern is common across European and North American suppliers this quarter. Revenue records are being set on non-automotive lines while the vehicle business flattens, and the geographic weakness is concentrated where model cycles are oldest.
Editor’s note: This is an adapted translation of the original Gasgoo report. It has been trimmed and restructured for readability for an international business audience. The full original (in Chinese) is at https://auto.gasgoo.com/news/202611/4I70476866C901.shtml.