VNE - Veoneer EPS beats by $0.07 beats on revenue

Veoneer (VNE): Q4 GAAP EPS of -$0.82 beats by $0.07.Revenue of $455M (-0.2% Y/Y) beats by $55.4M.FY2021 Guidance: Organic sales growth: exceed 25% Y/Y; Active safety organic sales growth: ~45% Y/Y; Currency translation impact is expected to be ~5%; Operating loss is expected to improve Y/Y; Cash balance is expected to exceed $400M; Order intake in 2021 is expected to increase Y/Y.CEO comment: "Looking beyond 2021 to our mid-term targets, we expect Veoneer's strong organic sales to continue and now expect net sales to be approximately $2.5 billion in 2023, based on our strong order intake over the last several years and order book of approximately $14 billion. The Company expects to arrive to a sustainable operating profit and positive free cash flow1 during 2023."Press Release

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Veoneer EPS beats by $0.07, beats on revenue