Autoliv Inc. (NYSE: ALV) shares sprang to life Tuesday, after reporting upbeat quarterly earnings.
The Swedish-based company, boasting a status as the worldwide leader in automotive safety systems, reported record consolidated sales of $2,729 million. Quarterly organic sales grew by 1.1%. The operating margin was 0.5% and the adjusted operating margin was 9.6% (for non-U.S. GAAP measures see enclosed reconciliation tables).
For the first quarter of 2018, the Company expects organic sales growth to be less than 1% and the adjusted operating margin to be around 9%. The consolidated sales growth is expected to be more than 7% in the first quarter 2018.
The indication for the full year adjusted operating margin is around 9% and an organic sales growth of more than 7% resulting in a consolidated sales growth of more than 11%.
CEO Jan Carlson put it thus: "The fourth quarter ended a year of records and exciting announcements. We are pleased that the fourth quarter sales and gross profit were the highest we have reported for any quarter. The full year 2017 was also the best year we have reported for sales and gross profit.
"Building on this solid base, we look forward with great expectations, as order intake in 2017 reached new historic highs for each of our Passive Safety and Electronics segments."
"Our achievements in 2017, especially our order intake records and gross margin progression reinforce our confidence in the sales and margin targets presented at our Capital Markets Day on September 14, 2017."
Shares in the company reached mid-morning Tuesday up $10.44, or 7.6%, to $148.76.
Related Stories
