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Autoliv’s Third-Quarter Results Fall
Autoliv Inc. reports its net sales in the third quarter slipped 1% to $2.2 billion, operating income fell 10% to $158 million and net income shrank 7% to $99 million.
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Autoliv Inc. reports its net sales in the third quarter slipped 1% to $2.2 billion, operating income fell 10% to $158 million and net income shrank 7% to $99 million.
The airbag and seatbelt supplier notes it has been adjusting capacity to align with regional fluctuations in demand for its products. It reports the program will cost more than $90 million this year.
Autoliv notes its organic sales grew more than 8% in July-September, outpacing light-vehicle production in all regions. Adjusted earnings per share jumped 22%.
The company expects full-year sales growth of about 7%. But it says consolidated sales will shrink 2% because of a 9% negative effect of unfavorable exchange rates.
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