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Autoliv’s Profit Drops as Sales Cool
Autoliv Inc. says its second-quarter operating income advanced 2% to $216 million, and its operating margin rose 0.3 points to 8.5%. But consolidated sales in April-June slipped 1% to $2.5 billion.
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Autoliv Inc. says its second-quarter operating income advanced 2% to $216 million, and its operating margin rose 0.3 points to 8.5%.
But consolidate sales for the Swedish safety systems supplier slipped 1% to $2.5 billion. Net profit fell 14% to $129 million.
Autoliv had expected year-on-year quarterly sales would rise 2%. It says results were hurt by unexpected cutbacks in vehicle production in China and North America. Sales also fell 2% in Europe. The company predicts its revenue in the current period will be between flat and 2% higher than for the third quarter in 2017.
Autoliv reiterates its full-year forecast for an adjusted operating margin of 8.5%. But it says sales growth will be about 2%, half the increase it estimated previously.
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