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Autoliv Inc ALV Stock Quote

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Morningstar‘s Stock Analysis ALV

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Autoliv 2Q Results Hit by Several Headwinds but Outlook Mostly Unchanged; Slight FVE Increase to $94

Richard Hilgert Senior Equity Analyst

Analyst Note

| Richard Hilgert |

Narrow moat Autoliv, supplier of air bags, seat belts, and steering wheels to the global auto industry, reported second-quarter earnings per share before special items of $0.90, well above the $0.34 FactSet consensus EPS but $0.30 below $1.20 reported last year. Several headwinds contributed to the shortfall, including sporadic customer production from the Ukraine crisis, the chip crunch, and China lockdowns as well as higher raw material costs, increased logistic expense, and rising wages. Revenue increased 3% versus the year-ago period, to $2.1 billion. Excluding negative currency effect in the quarter, organic revenue rose 8%, outperforming a 1% increase in global light-vehicle production by 7 percentage points due to launched new business, partially offset by customer call-offs.

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Company Profile ALV

Business Description

Autoliv is the global leader in passive safety components and systems for the auto industry. Products include seat belts, frontal air bags, side-impact air bags, air bag inflators, and steering wheels. The Renault-Nissan-Mitsubishi alliance is the company's largest customer at 13% of 2021 revenue, with Stellantis accounting for 11%, and Volkswagen at 10%. At 31% of 2021 revenue, the Americas was Autoliv's largest geographic region, followed by Europe at 28%, China at 22%, and Japan at 9%.

Contact
Klarabergsviadukten 70, P.O. Box 70381, Section B ,7th Floor
Stockholm, SE-107 24, Sweden
T +46 858720600
Industry Auto Parts
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 64,700

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