Loading...
Loading...
- Autoliv Inc ALV reported second-quarter FY22 sales growth of 2.9% year-on-year, to $2.08 billion, beating the consensus of $2.05 billion.
- Operating income declined 25% to $124 million, and the operating margin contracted 210 basis points to 6.0%.
- Stronger than expected performance in June driven by price increases, LVP recovery, and a patent litigation settlement led to a better-than-expected operating profit for the quarter. However, profitability declined due to higher raw material costs, currency movements, and lockdowns in China.
- Operating cash flow was negative $(51) million for the quarter versus $63 million a year ago, impacted by adverse effects from working capital.
- The adjusted return on capital employed was 13.3% versus 17.8% the prior year.
- Adjusted EPS of $0.90 topped the consensus of $0.37.
- Outlook: Autoliv sees FY22 organic net sales growth of 13% - 16% (prior view 12% - 17%).
- The company expects an adjusted operating margin of 6% - 7% (prior view 5.5% - 7.0%).
- It sees an FY22 operating cash flow of $750 million - $850 million (unchanged). It expects operating cash flow to recover in the second half.
- Price Action: ALV shares are trading higher by 3.46% at $84.25 during the premarket session on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in