Aptiv PLC on July 31 raised its EPS guidance for full year 2019 despite dips in its second-quarter net income and revenue.
The Irish auto parts retailer now expects full-year EPS in a range of $5.05 to $5.15, higher than its previous forecast of $4.90 to $5.10. It also expects full-year adjusted operating income margin of 11.4% to 11.5%. For the ongoing quarter ending Sept. 30, the company forecasts adjusted EPS of $1.27 to $1.33.
For the quarter ended June 30, adjusted EPS came in at $1.33, lower than last year's $1.40 but better than S&P Global Market Intelligence's normalized EPS estimate of $1.14.
Adjusted net income slid to $274 million from $291 million in the year-ago period, while adjusted operating income margin also dropped to 9.2% from 11.4% in the same period in 2018. The company attributed the decline to unfavorable impacts of foreign currency exchange, commodity movements and divestitures.
Revenue for the quarter reached $3.6 billion, a 2% decline year over year but a 4% increase in currency-adjusted terms.