Aptiv Caps Strong 2025 with Record Q4 Revenue, Sets Stage for Versagen Spin-Off
Dublin, Ireland – February 2, 2026 – Aptiv PLC (NYSE: APTV), a global leader in automotive technology, closed a resilient 2025 with record fourth-quarter revenue, the company announced in its earnings call Monday. The results come as Aptiv finalizes preparations for a significant corporate transformation: the spin-off of its Electrical Distribution Systems (EDS) business into an independent, publicly traded company named Versagen, effective April 1, 2026.
For the quarter ending December 31, 2025, Aptiv posted revenue of $5.2 billion, a 3% year-over-year increase, marking a new Q4 record. Adjusted operating income reached $607 million. The company attributed the performance to strength across its Intelligent Systems, Engineered Components, and EDS segments, alongside disciplined cost management that helped offset significant foreign exchange and commodity headwinds.
"Our resilient operating model enabled us to execute flawlessly in a dynamic environment," said Aptiv CEO Kevin Clark. "We are successfully leveraging our portfolio to penetrate non-automotive markets where trends like automation and electrification are creating new opportunities."
A key highlight of the quarter was the finalization of the leadership team for Versagen, which will be led by Joe Liatine. The spin-off remains on schedule for April 1. "We're confident Versagen is well-positioned to deliver continued value to its customers and create value for its shareholders," Clark added.
The company's full-year 2025 new business bookings reached $27 billion, slightly below its $31 billion target due to some customer awards shifting into 2026. However, Aptiv ended the year with a robust pipeline and expects 2026 bookings—for the combined Aptiv and Versagen—to exceed $30 billion.
Looking ahead, Aptiv provided its first financial outlook for the post-spin entities. The future "NuAptiv," focused on advanced safety, software, and computing architectures, forecasts 2026 revenue between $12.8 and $13.2 billion. The new Versagen, specializing in electrical distribution and energy management, expects revenue between $9.1 and $9.4 billion.
CFO Varun Laroyia noted the company is navigating industry-wide challenges, including potential DRAM shortages, but expressed confidence due to strategic inventory builds and long-term supplier contracts. "We have worked diligently to strengthen the resiliency of our supply chain," Laroyia stated.
Analyst and Investor Reactions:
The announcement drew mixed reactions from the investment community.
"The record revenue and clear path for the spin-off are positive signs," said Michael Thorne, a portfolio manager at Horizon Capital. "Aptiv's diversification into robotics and non-automotive sectors, evidenced by partnerships with firms like Vecna Robotics, shows strategic foresight beyond cyclical auto production."
"The guidance for NuAptiv seems conservative, but it's prudent given the volatile macro environment and vehicle production forecasts," commented Sarah Chen, a senior analyst at Finley Research. "The key will be execution on the spin-off and delivering the promised margin expansion in both companies post-separation."
However, some voices were more critical. David R. Feldon, editor of the Feldon's Automotive Report, offered a sharper take: "Another quarter of navigating 'headwinds' and 'dynamic environments'—the corporate jargon is strong. A 3% revenue growth is solid but hardly explosive for a tech leader. The real test is whether creating two smaller, more focused companies actually unlocks value or just creates two entities to navigate the same semiconductor and commodity volatility. The market's patience for this 'unlocking value' narrative is wearing thin."
As Aptiv and the soon-to-be-independent Versagen head into a transformative 2026, the focus will be on their ability to capitalize on secular trends in electrification and software-defined vehicles while proving the strategic merit of the separation to shareholders.