Autoliv Inc. ALV reported second-quarter sales of $2.155 billion, which missed the analyst consensus estimate of $2.17 billion. This is a 2.58% decrease over sales of $2.212 billion the same period last year.
"We experienced another challenging quarter dominated by severe weakness in global light vehicle markets and high raw material costs with reduced profitability as a consequence," said CEO Mikael Bratt. "The uncertainty remains high in a falling market and we currently do not see any signs of a turnaround in light vehicle demand. Therefore we now indicate a lower full year 2019 sales and profitability."
Autoliv shares were trading up 2.4% at $71.56 in Friday’s pre-market session. The stock has a 52-week high of $106.70 and a 52-week low of $61.07.
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