Aptiv says coronavirus hurt revenue by 150-200 million USD
Aptiv, the automotive technology supplier, said the coronavirus outbreak in China has hurt revenue by $150 million to $200 million and operating income by $60 million to $80 million.
Aptiv said it anticipates “a significant number” of production delays through February with some plants resuming operations in mid-to-late February, working to achieve full production through March.
The supplier previously predicted in its Q4 earnings call production delays through Feb. 9 and revenue and operating income impacts of $50 million and $20 million respectively.
“In response to the evolving developments related to the coronavirus outbreak in China, the company has been adjusting to changes in customer production schedule at sites in the affected regions, which have been temporarily closed or are operating at partial capacity,” Aptiv said.
“Given the difficulty predicting when our customers’ plants will be fully operational,” Aptiv acknowledged, the impact to the company’s first-quarter and full-year results “will depend on future developments, which remain highly uncertain and difficult to forecast.”
“The company is unable to quantify any further potential impact from these developments at this time,” the filing said. “The company does not intend to provide further updates on its guidance until it releases its first quarter results in April.”
Via Automotive News