Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Aptiv's second quarter of fiscal 2026 marked its first full period as a standalone continuing operations company following the April 1, 2026 spin-off of its Electrical Distribution Systems business into Versigent PLC. Revenue growth of 2.3% was driven by volume increases in North America and Asia Pacific, outstripping flat global automotive production. Operating income rose 12.9% on improved operational performance, but net income fell 36.9% due to higher income tax expense and the absence of a prior-year gain from equity method transactions. Cash flow from operations turned negative year-to-date as the company built inventory to safeguard against supply chain disruptions, contrasting with strong cash generation in the prior year. The results reflect a company in transition, with improving margins from continuing operations but volatile non-operating items and working capital pressures.
Revenue
$3.27B
+2.34% YoY
EPS (Diluted)
$1.17
-35.00% YoY
Operating Income
$367M
+12.92% YoY
Source: SEC XBRL
Aptiv (APTV) reported Q2 FY2026 revenue of $3.27B, up 2.3% year over year. Operating margin was 11.2%, up 1.0 points from 10.2% a year earlier. APTV's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026This filing | 1.63 | 1.46 | Beat +11.6% |
| Mar 2026 | 1.71 | 1.60 | Beat +6.9% |
| Dec 2025 | 1.86 | 1.89 | Miss -1.5% |
| Sep 2025 | 2.17 | 1.85 | Beat +17.1% |
Adjusted (non-GAAP) EPS of $1.63 versus the $1.46 analyst consensus — a +11.6% beat for Jun 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $1.17.
2 reported segments · SEC XBRL
Segment revenue totals $3.3B; with -$27M of reconciling items (corporate, unallocated and eliminations) it ties to the $3.27B of consolidated revenue on the income statement. The profit column adds up to the consolidated figure as well.
Profit above is reported as operating income, the measure APTV itself discloses in this filing. Each company chooses its own measure here, so these margins are not comparable with another company's.
Compiled by AI from 10-Q Item 2 of this filing
On April 1, 2026, Aptiv completed the separation of its Electrical Distribution Systems segment into Versigent PLC, distributing one Versigent share for every three Aptiv shares. The historical results of this business are reported as discontinued operations, making this the first quarter of Aptiv's continuing operations.
Source: 10-Q Item 2 MD&A
Volume increased 3% year-over-year in Q2, driven by strength in North America and Asia Pacific, while Europe declined, compared to flat global automotive production on an Aptiv-weighted basis. This outperformance was supported by new business and recoveries.
Source: 10-Q Item 2 MD&A
Operating income rose 12.9% to $367 million, with gross margin expanding to 23.7% from 22.9%, reflecting operational efficiencies and cost management, partially offset by continued pricing pressures and restructuring costs.
Source: 10-Q Item 2 MD&A
Year-to-date operating cash flow turned negative at -$51 million compared to $783 million in the prior-year period, primarily due to increased inventory levels to mitigate supply chain risks and customer production volatility.
Source: 10-Q Item 2 MD&A
While the U.S. Supreme Court invalidated certain IEEPA tariffs in February 2026, the environment remains uncertain with potential for new tariffs and retaliatory measures. Aptiv is working with customers and suppliers to mitigate impacts, but material effects could arise.
Source: 10-Q Item 2 MD&A
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
Aptiv's revenue is highly dependent on global vehicle production, which is cyclical. Weakness in Europe, which saw volume declines, and potential slowdowns in other regions could adversely impact revenue and profitability.
Source: 10-Q Income Statement (XBRL)
Net income declined 36.9% despite 12.9% operating income growth, driven by a $36 million increase in income tax expense and a $43 million decline in equity gains. Such items are unpredictable and can mask underlying operational improvements.
Source: 10-Q Income Statement (XBRL)
Year-to-date operating cash flow was -$51 million versus $783 million in the prior year, indicating significant cash consumption from operations. This could strain liquidity and investment capacity if it persists.
Source: 10-Q Cash Flow Statement (XBRL)
The negative operating cash flow is partly driven by a buildup in inventory to mitigate supply chain risks, as mentioned in the MD&A. Excess inventory risks obsolescence or write-downs if customer demand slows.
Source: 10-Q Cash Flow Statement (XBRL)
Long-term debt stands at $5.33 billion with a debt-to-equity ratio of 1.06. Interest expense of $62 million in Q2 represents a fixed cost that could pressure earnings if revenue growth slows.
Source: 10-Q Balance Sheet (XBRL)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 3.27 $B | 3.20 $B | +2.34% |
Cost of Revenue $B | 2.50 $B | 2.47 $B | +1.26% |
Operating Income $M | 367.00 $M | 325.00 $M | +12.92% |
Net Income $M | 248.00 $M | 393.00 $M | -36.90% |
EPS (Basic) $ | 1.17 $ | 1.80 $ | -35.00% |
EPS (Diluted) $ | 1.17 $ | 1.80 $ | -35.00% |
SG&A Expense $M | 332.00 $M | 327.00 $M | +1.53% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
APTV reported Q1 FY2025 revenue of $5.09B (+5.4% YoY) but saw operating income fall 15.6% to $378M as rising costs and SG&A pressures compressed margins, while net income surged to $189M versus a prior-year loss, aided by a significant financing inflow that boosted cash to $3.17B.
Aptiv (APTV) reported FY2025 revenue growth of 3.5% to $20.4B, but net income collapsed 90.8% to $165M and EPS fell to $0.75 from $6.97, driven by margin compression, elevated SG&A, and significant non-operating charges.