Veoneer: Q3 Earnings Insights

Shares of Veoneer VNE fell 2.1% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share increased 20.00% year over year to ($0.96), which beat the estimate of ($0.97).

Revenue of $371,000,000 decreased by 19.70% year over year, which beat the estimate of $356,890,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Oct 23, 2020

Time: 09:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/z258h6k2

Price Action

52-week high: $18.90

52-week low: $5.25

Price action over last quarter: Up 57.16%

Company Overview

Veoneer designs, develops, and makes safety electronics for the global automotive industry. Passive safety products include sensors, electronic control units, and software used to prepare seat belt pretensioners, and to deploy airbags in a collision. Active safety products include sensors, electronic control units, and software that enable advanced driver assistance systems, or ADAS, highly automated driving, or HAD, and autonomous driving, or AD. Veoneer also provides brake system electronic control units and software in the U.S. Roughly one-third of revenue comes from each of Europe, the Americas, and Asia. Honda, Daimler, Ford, Hyundai/Kia, and the Renault-Nissan-Mitsubishi alliance are the company's five largest customers, accounting for 67% of 2019 revenue.