Autoliv Q3 Adj. Profit Rises

(RTTNews) - Autoliv, Inc. (ALV) reported that its third quarter adjusted earnings per share increased to $1.23 from $0.73, prior year. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $1.27, for the quarter. Analysts' estimates typically exclude special items.

Net income increased to $106 million from $60 million, last year. Earnings per share was $1.21 compared to $0.68.

Third quarter net sales were $2.30 billion, up 25% from prior year. Analysts on average had estimated $2.36 billion in revenue. Sales increased organically by 32.5%, for the quarter.

"We achieved a strong recovery in the third quarter, delivering record sales for a third quarter and increasing the adjusted operating margin to 7.5% despite adverse FX effects of almost 2pp and challenges from inflationary pressure and high call-off volatility. This is an important step towards our medium-term targets," said Mikael Bratt, President & CEO.

For 2022, the company now expects adjusted operating margin towards upper end of around 6.0%-7.0%. Organic sales growth is estimated around 15%.

Shares of Autoliv are up 4% in pre-market trade on Friday.

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