For 2023, the company reiterated its guidance for organic sales growth of around 15% and an adjusted operating margin of about 8.5%-9.0%.

For 2022-2024, ALV continues to expect to grow organically by around 4% more than the light vehicle production (LVP) average growth yearly. 

Also, Autoliv reiterated its medium-term target of a 12% adjusted operating margin, with expected continued implementation of its structural and strategic initiatives, conditioned upon a stable global LVP business environment (at least 85 million) and lower impact of inflation-related headwinds.

Beyond 2024, Autoliv reaffirmed long-term growth at organic sales growth of 4%-6% per year. 

Repurchase: The company plans to continue with its repurchase program, with the current program authorizing the repurchase of up to $1.5 billion or up to 17 million common shares (whichever comes first), between January 2022 and the end of 2024.

Under the program, Autoliv has repurchased 2.3 million shares worth $194 million.

Price Action: ALV shares closed lower by 1.15% at $87.55 on Friday.