Mexican Media Brands
Special Charges Hurt TRW Earnings
TRW Automotive Holdings Corp. reports a net loss of $360 million in the fourth quarter of 2014, reversing a $363 million profit a year earlier.
#economics
Share
TRW Automotive Holdings Corp. reports a net loss of $360 million in the fourth quarter of 2014, reversing a $363 million profit a year earlier. Sales declined 3% to $4.3 billion.
Operating profits for the safety systems supplier swung from $300 million in October-December 2013 to a $481 million loss in the same period last year. The decline was due almost entirely to special charges related to meeting pension obligations.
On an adjusted basis, TRW's operating income in the fourth quarter of 2014 rose 8% to $364 million, and its net earnings jumped 20% to $268 million.
For the full year, TRW revenue grew by $104 million to a record $17.5 billion. Net earnings were $293 million compared with $970 million in 2013, and operating income fell to $501 million from $1.2 billion. When adjusted for special items, last year's operating and net results rose 7% to $1.4 billion and 13% to $958 million, respectively.
The company expects sales this year to decline at least 3% to a range of $16.6 billion-$16.9 billion.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.