Aptiv (NYSE:APTV) shares are losing traction and set to trade in the red for a third straight day as the company’s disappointing third quarter revenue and lowered guidance for the year sent the stock lower by more than 12%.

“Our revised financial outlook reflects the impact of incremental customer schedule reductions and broader weakness in automotive production volumes,” said CEO Kevin Clark, adding that despite near-term headwinds, “we are confident in the long-term megatrends of safe, green and connected, and we are well-positioned to support our customers in this transition, while maximizing value to shareholders.”

Although sales were down, profitability improved with adjusted earnings per share increasing to $1.83 from $1.30 a year ago, $0.17 better than expected. The company’s operating margin improved to 10.4% from 8.7% in the same quarter last year.

A drop in automotive production and slowing demand for electric vehicles prompted Aptiv (APTV) to lower its full year guidance and profit outlook. Total revenue was lowered again to be between $19.6B to $19.9B from previous guidance of $20.1B to $20.4B, and is below the consensus estimate of $20.15B.

Earnings are now targeted to be between $6.00 and $6.30 from $6.15 to $6.45, previously, straddling the $6.20 estimate.

The company is also projecting operational income to be between $2.3B to $2.4B with an adjusted margin of 11.7% to 12.1%, while adjusted EBITDA margin is expected to be between 15.4% to 15.7%.

By contrast, BorgWarner (NYSE:BWA) raised its profit guidance for the year to $4.15 to $4.30 per share from initial guidance of $3.95 to $4.15 per share, as strong Q3 operational performance and cost controls offsets lowered revenue guidance. BorgWarner also warned that sales in its weighted light and commercial vehicle markets are expected to drop by 3% to 3.5%, a revision from prior guidance of down 2% to down 3%.

Despite the mixed guidance, BorgWarner shares are up 2.5% at the open.