July 31 (Reuters) - Aptiv PLC ( APTV ) forecast a
bigger-than-expected annual adjusted profit on Thursday, banking
on resilient demand for its auto parts despite pressure from
U.S. tariffs and higher costs.
U.S.-listed shares of the Dublin-based company rose nearly
3% in premarket trade.
Strong demand from automakers for advanced driver-assistance
features and infotainment systems has helped companies like
Aptiv ( APTV ).
But U.S. President Donald Trump's tariffs have hit the
import-heavy automotive industry. Global demand for electric
vehicles has also slowed down, forcing Aptiv ( APTV ) to cut costs last
year.
Aptiv ( APTV ), which sources components globally for its auto parts
business, counts major automakers such as the Detroit Three,
Volkswagen AG and BMW among its key clients.
The supplier now expects annual adjusted earnings per share
between $7.30 and $7.60, above analysts' estimates of $7.23,
according to data compiled by LSEG.
On an adjusted basis, Aptiv ( APTV ) earned $2.12 per share in the
quarter through June, compared with estimates of $1.84 per
share.
Overall quarterly net sales rose 3% to $5.2 billion from a
year ago. Analysts on average expected net sales of $5.09
billion.