aptiv said it now expects fullyear adjusted net income between 305 and 355 per share down from its previous forecast of 390 and 480 per shareauto parts supplier aptiv plc lowered its annual forecasts for profit and revenue on thursday blaming production cuts by major automakers in europe as the region braces for a disruption in gas supplies from russia shares of the company which counts stellantis nv volkswagen ag and general motors co as customers were down 9 in early trading peers borgwarner inc lear corp and adient plc also fell aptiv chief executive kevin clark warned about the worsening economic situation in europe and said the company was taking several steps including raising prices to help protect margins advt politicians in europe have said russia could cut off gas flows this winter which could throttle industrial production in the regions top economy germany meanwhile inflation is beginning to take a toll on the auto industry which is still reeling from chip shortages carmakers are reporting lower demand in europe and north america amid what analysts say is growing evidence that consumers are balking at higher prices and keeping their cash for necessities overall we believe that constraints on production and the record levels of inflation will continue for several more quarters clark added aptiv said it now expects fullyear adjusted net income between 305 and 355 per share down from its previous forecast of 390 and 480 per share it also cut 2022 revenue forecast to between 170 billion and 173 billion down from its previous outlook of 1775 billion to 1815 billion q2 was horrific evercore analysts said in a note net sales for the secondquarter were 406 billion lower than analysts expectations of 409 billion as china sales fell 2 excluding items aptiv reported a profit of 22 cents per share falling well short of estimates of 58 cents per share according to refinitiv data reuters published on aug 5 2022 at 0358 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app aptiv plc aptiv 2022 sales aptiv 2022 revenue aptiv 2022 profit international aptiv shares peers borgwarner inc lear corp kevin clark aptiv ceo homenewsauto componentsauto supplier aptiv cuts forecast on europe gas supply worries