Aptiv (APTV) Q4 2025 Earnings Call Transcript

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• Total bookings for 2026 expected to exceed $30B for combined Aptiv and Versagen

  80% confidence

• Historical DRAM cost recovery has been approximately 100% pass-through to customers

  80% confidence

• Software and services business represents approximately 25% of NuAptiv business with mid-teens growth rate

  80% confidence

• Aptiv is highly confident it will be able to push DRAM cost increases through to OEM customers

  80% confidence

• Versagen has momentum heading into 2026 and is confident in ability to deliver shareholder value as independent company

  80% confidence

• Non-automotive revenue grew 8% full-year 2025, with other industrial growing faster than commercial vehicles in Q4

  80% confidence

• 2026 vehicle production forecast revised to down 1% from prior expectation of up 1%, with Q1 down 4%

  80% confidence

• 2026 is a very exciting year for both Aptiv and for Versagen as we unlock value through the formation of two independent, optimally positioned public companies

  80% confidence

• The four to seven points growth target through 2028 remains intact

  80% confidence

• Our resilient operating model enables us to execute flawlessly in this dynamic environment

  80% confidence

• China weakness expected in Q1 2026 with strengthening expected Q3-Q4

  80% confidence

• DRAM price increases expected to be low double-digits in 2026, with 2027 expected to be less than 100-120% increases

  80% confidence

• Supply chain visibility achieved at 95% to Tier 3 and 99% for semiconductors to Tier 5

  80% confidence

• Copper budgeted at $5.50/lb for 2026 versus $4.51 actual in 2025, representing approximately $200M top-line revenue impact for Versagen

  80% confidence

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