Veoneer: Q2 Earnings Insights

Shares of Veoneer (NYSE:VNE) rose 55.3% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 11.25% year over year to ($0.89), which beat the estimate of ($0.91).

Revenue of $398,000,000 rose by 116.30% from the same period last year, which missed the estimate of $404,730,000.

Outlook

Veoneer hasn't issued any earnings guidance for the time being.

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

How To Listen To The Conference Call

Date: Jul 23, 2021

Time: 08:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/wh5rgcwn

Technicals

Company's 52-week high was at $30.71

52-week low: $9.56

Price action over last quarter: Up 31.35%

Company Description

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. Roughly one-third of revenue comes from each of Europe, the Americas, and Asia. Daimler, Hyundai/Kia, Ford, Honda, and General Motors are the company's five largest customers, accounting for 61% of 2020 revenue.

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