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.
Related Links:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.