Aptiv said it benefited from automakers increasingly trying to incorporate more advanced driver assistance aids in their cars in their effort to make autonomous vehicles.
However, a tight labor market has been an ongoing issue for automotive companies that are looking to increase production and meet customer demand.
Aptiv, which counts General Motors, Ford and Tesla Inc. among its customers, said it expects net sales at the end of the year to rise between $19.95 billion and $20.25 billion from its prior range of $18.7 billion to $19.3 billion.
Aptiv ranks No. 13 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $17.5 billion in 2022.
Reuters and Philip Nussel contributed to this report