Published on 8 May 2024 on Zacks via Yahoo Finance
Autoliv (ALV) Stock Up 7% Since Q1 Earnings & Sales Beat
Shares of Autoliv Inc. ALV have rallied 7% since the company reported first-quarter 2024 results. It reported adjusted earnings of $1.58 per share, which surpassed the Zacks Consensus Estimate of $1.40 and rose 75.5% year over year. The outperformance can be attributed to better-than-expected sales across both units. The company reported net sales of $2.61 billion in the quarter, which topped the Zacks Consensus Estimate of $2.57 million and rose 4.9% year over year.
Organic sales rose 5% year over year and outpaced our estimate of 3.7% due to product launches and higher prices. Autoliv reported adjusted operating income of $199 million, up 51% year over year. Adjusted operating margin was 7.6%, higher than 5.3% in the year-ago period, driven by organic growth and cost control efforts.
Autoliv, Inc. Price, Consensus and EPS Surprise