Autoliv, Inc. (ALV) Tops Q2 EPS by 7c
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Price: $115.85 -1.77%
EPS Growth %: +60.0%
Financial Fact:
Income tax expense: -49.6M
Today's EPS Names:
FRSB, DGICA, UXIN, More
EPS Growth %: +60.0%
Financial Fact:
Income tax expense: -49.6M
Today's EPS Names:
FRSB, DGICA, UXIN, More
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Autoliv, Inc. (NYSE: ALV) reported Q2 EPS of $1.44, $0.07 better than the analyst estimate of $1.37. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.15 billion.
Comments from Jan Carlson, President and CEO
"Autoliv had a solid quarter achieving record sales and a solid operating margin. The global vehicle production developed slightly better than anticipated, and through good execution, and high deliveries to well performing vehicle platforms we were able to benefit from the increase. During the quarter Autoliv held a Capital Market Day outlining future strategies for growth, and it is especially pleasing to see the key strategic growth areas of active safety, and new growth markets, specifically China, performing well.
In our new growth area of active safety, organic sales grew by more than 70%. This strong performance gives further confidence that we are on track to achieve our target of $500 million in active safety sales in 2015. We also continue to benefit from our long-term presence in China. We had another quarter with double digit sales growth, largely driven by the Chinese OEMs. This focus on safety from leading Chinese car manufacturers is an important trend for the future and Autoliv is well positioned to continue to benefit from it.
European sales in the quarter were stronger than expected, driven by an unexpected increase in vehicle production and high sales to premium European car makers. However, we remain cautious regarding Europe, as we don’t see any improvement in vehicle production or overall economic recovery in the region and the adjustment of our European production footprint is taking longer than previously expected.
We enter the second half of the year guided by our business plan outlined at the Capital Market Day in May and with a sharp focus on continued execution of our strategies."
For earnings history and earnings-related data on Autoliv, Inc. (ALV) click here.
Comments from Jan Carlson, President and CEO
"Autoliv had a solid quarter achieving record sales and a solid operating margin. The global vehicle production developed slightly better than anticipated, and through good execution, and high deliveries to well performing vehicle platforms we were able to benefit from the increase. During the quarter Autoliv held a Capital Market Day outlining future strategies for growth, and it is especially pleasing to see the key strategic growth areas of active safety, and new growth markets, specifically China, performing well.
In our new growth area of active safety, organic sales grew by more than 70%. This strong performance gives further confidence that we are on track to achieve our target of $500 million in active safety sales in 2015. We also continue to benefit from our long-term presence in China. We had another quarter with double digit sales growth, largely driven by the Chinese OEMs. This focus on safety from leading Chinese car manufacturers is an important trend for the future and Autoliv is well positioned to continue to benefit from it.
European sales in the quarter were stronger than expected, driven by an unexpected increase in vehicle production and high sales to premium European car makers. However, we remain cautious regarding Europe, as we don’t see any improvement in vehicle production or overall economic recovery in the region and the adjustment of our European production footprint is taking longer than previously expected.
We enter the second half of the year guided by our business plan outlined at the Capital Market Day in May and with a sharp focus on continued execution of our strategies."
For earnings history and earnings-related data on Autoliv, Inc. (ALV) click here.
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