Autoliv Q3 Earnings Miss Estimates

  • Autoliv Inc ALV reported third-quarter FY22 sales growth of 25% year-on-year to $2.30 billion, missing the consensus of $2.35 billion.
  • Adjusted operating margin for the quarter was 7.5% versus 5.6% last year. Adjusted operating income increased 67% to $173 million.
  • Return on capital employed expanded to 18%, and the adjusted return on capital employed was 18.4%.
  • Gross profit for the quarter increased 28% Y/Y to $383 million with a gross margin of 16.6%.
  • "Our actions initiated earlier in the year are now delivering results, especially our price adjustments to compensate for the inflationary pressures and our cost reduction activities," said CEO Mikael Bratt.
  • Adjusted EPS of $1.23 missed the analyst consensus of $1.27.
  • Operating cash flow totaled $232 million for the quarter. The company held cash and equivalents of $483 million at the end of the third quarter. The net debt amounted to $1.3 billion.
  • Outlook: Autoliv sees FY22 organic sales growth of around 15% (previously 13% - 16%).
  • The company expects an adjusted operating margin in the upper end of 6%-7%.
  • It sees around $700 million - $750 million in operating cash flow.
  • Price Action: ALV shares are trading higher by 3.49% at $76.24 during the pre-market session on Friday.
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