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Autoliv Posts Record-High Quarterly Sales
Safety systems supplier Autoliv Inc. reports its net sales revenue in the fourth quarter of 2018 climbed 5% to an any-quarter record $2.7 billion.
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Safety systems supplier Autoliv Inc. reports its net sales revenue in the fourth quarter of 2018 climbed 5% to an any-quarter record $2.7 billion.
The company’s adjusted operating income for the period rose 8% to $263 million. Gross profit grew 6% to $567 million. The adjusted operating margin advanced by 0.3 points to 9.6%.
Adjusted net profit in the fourth quarter plunged to $63 million from $148 million. Autoliv says tax adjustments and a goodwill impairment ballooned the company’s effective tax rate for the period from 37% to 422%.
For the full year, Autoliv’s sales rose 3% to $10.4 billion, operating income dropped 29% to $605 million and adjusted net income fell 25% to $427 million in 2017.
Autoliv expects its consolidated sales in the first quarter of 2018 will grow more than 7%, mainly because of positive currency translations. The company forecasts full-year consolidated sales growth and adjusted operating margin of 11% and 9%, respectively.
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