ALV - Automotive Safety Supplier Autoliv's Q2 Hurt By Low Light Vehicle Production: Details | Benzinga
Autoliv Inc. (NYSE:ALV) shares are trading lower after the company reported worse-than-expected second-quarter FY24 earnings and lowered the outlook.
The company reported a second-quarter FY24 sales decline of 1.1% year-on-year to $2.605 billion, missing the analyst consensus estimate of $2.74 billion.
The company said it underperformed in the Americas and China, mainly due to lower light vehicle production with certain key customers, as a consequence of weaker sales and inventory reductions.
Adjusted operating margin for the quarter was 8.5% versus 8% last year. Adjusted operating income increased 4.4% to $221 million.
Return on capital employed expanded ...