A maker of the brains and wiring of modern cars, Aptiv designs sensors, compute platforms, and connection systems that power safety features and electric vehicles for the world's largest automakers. It began as a General Motors parts division in 1994, was spun off as Delphi in 1999, and took its current name in 2017 after splitting from its engine business. The name blends "apt" and "adaptive," and the company plans to spin off its electrical-distribution arm as a separate firm called Versigent by 2026.
Aptiv reports Q2 2026 revenue of $3.3B, up 2%, and adjusted EPS of $1.63
Q2 2026 U.S. GAAP revenue was $3.3 billion, up 2% from the prior year period.
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Q2 2026 U.S. GAAP net income from continuing operations was $298 million, with diluted EPS of $1.40.
Adjusted EBITDA for Q2 2026 was $613 million, with an adjusted EBITDA margin of 18.7%.
The spin-off of the Electrical Distribution Systems segment into Versigent PLC was completed on April 1, 2026, with Aptiv receiving a $1.9 billion cash dividend.
Full year 2026 guidance includes net sales of $12.6-$12.8 billion and adjusted EPS of $5.60-$5.80.
2.02 Results of Operations and Financial Condition
Aptiv reports record first quarter 2026 revenue and adjusted EPS.
U.S. GAAP net income was $189 million, or $0.88 per diluted share, compared to a net loss of $11 million, or $0.05 per diluted share, in the prior year period.
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First quarter 2026 U.S. GAAP revenue was $5.1 billion, up 5% year-over-year; adjusted for currency and commodity movements, revenue increased 1%.
Adjusted EBITDA was $752 million, with a margin of 14.8%, down from $758 million and 15.7% in the prior year period.
The company provided Q2 2026 guidance of net sales $3.2-$3.4 billion and adjusted EPS $1.30-$1.50; full year 2026 net sales $12.8-$13.2 billion and adjusted EPS $5.70-$6.10.
The EDS business spin-off to Versigent completed on April 1, 2026; Q2 and full year guidance reflects New Aptiv without EDS.
2.02 Results of Operations and Financial Condition · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Aptiv PLC shareholders elect 11 directors and approve EY as auditor at 2026 AGM.
Shareholders elected all 11 director nominees for one-year terms, with each receiving a majority of votes cast.
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Aptiv PLC held its Annual General Meeting of Shareholders on April 29, 2026.
Shareholders approved the re-appointment of Ernst & Young LLP as the company's independent registered public accounting firm, with 186,539,017 votes for and 7,724,294 against.
The advisory vote on named executive officer compensation was approved, with 166,576,769 votes for and 19,881,838 against.
The report was filed under Item 5.07 to disclose the final voting results of these shareholder matters.
5.07 Submission of Matters to a Vote of Security Holders
Aptiv subsidiary completes $1.371B cash tender offer for seven series of senior notes
Aptiv Swiss Holdings Limited's tender offer expired on April 3, 2026, with final settlement announced on April 6, 2026.
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The tender offer covered seven series of senior notes with aggregate consideration up to $1,371,000,000, excluding accrued interest.
Conditions for the tender offer were satisfied, including the consummation of the Versigent spin-off and receipt of a special dividend of at least $1.7 billion.
The company will accept notes totaling approximately $1.446 billion across the series, with proration applied to the 4.150% Senior Notes due 2052 at a factor of 19.2%.
Settlement is expected on April 7, 2026, with Citigroup, Goldman Sachs, and J.P. Morgan serving as dealer managers.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Aptiv PLC completes spin-off of Versigent Limited, distributing shares on April 1, 2026.
Each Aptiv shareholder received one Versigent ordinary share for every three Aptiv ordinary shares held as of the March 17, 2026 record date, with cash paid in lieu of fractional shares.
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Aptiv PLC completed the spin-off of Versigent Limited on April 1, 2026, distributing all outstanding Versigent ordinary shares pro rata to Aptiv shareholders.
Versigent's ordinary shares began trading on the New York Stock Exchange under the ticker symbol 'VGNT' on April 1, 2026.
The separation was effected under a Separation and Distribution Agreement dated March 30, 2026, between Aptiv and Versigent, filed as Exhibit 2.1.
Pro forma financial information related to the spin-off will be filed by amendment within four business days after the spin-off date.
1.01 Entry into a Material Definitive Agreement · 2.01 Completion of Acquisition or Disposition of Assets · 9.01 Financial Statements and Exhibits
Aptiv upsizes cash tender offer to $1.371 billion for seven series of senior notes
As of the Early Tender Deadline, holders had tendered notes with aggregate principal amounts ranging from $111.69 million (4.400% notes due 2046) to $691.948 million (3.100% notes due 2051).
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Aptiv PLC's subsidiary Aptiv Swiss Holdings Limited increased the Maximum Aggregate Consideration for its cash tender offer from $1.35 billion to $1.371 billion.
The tender offer covers seven series of senior notes due 2032 through 2054, with acceptance priority levels and series caps for certain series.
The tender offer is conditioned on the completion of the Spin-Off of Aptiv's Electrical Distribution Systems business into Versigent and receipt of a special dividend of at least $1.7 billion.
The settlement date is expected to be April 7, 2026, and the withdrawal deadline was March 19, 2026.
Aptiv subsidiary launches up to $1.35B cash tender offer for seven series of senior notes
On March 6, 2026, Aptiv Swiss Holdings Limited commenced a cash tender offer to purchase up to $1,350,000,000 aggregate principal amount of seven series of senior notes.
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The tender offer is conditioned on the completion of the spin-off of Aptiv's Electrical Distribution Systems business into Versigent and receipt of a special dividend of at least $1,700,000,000 from Versigent.
The tender offer expires at 5:00 p.m. New York City time on April 3, 2026, with an early tender deadline of March 19, 2026, and expected settlement on April 7, 2026.
Aptiv also announced the conditional redemption of the entire $401 million aggregate principal amount of its 4.650% Senior Notes due 2029, expected on April 7, 2026.
The tender offer includes an early tender premium of $30 per $1,000 principal amount and fixed spreads ranging from +40 to +105 basis points over reference U.S. Treasury securities.