Autoliv, Inc. ALV reported better-than-expected third-quarter sales results on Friday. The company reported third-quarter adjusted earnings per share of $1.84, missing the analyst consensus of $1.95. Quarterly revenues of $2.56 billion topped the street view of $2.53 billion. "Light vehicle production was weak in the third quarter, declining by close to 5% globally. This was driven by a combination of inventory reductions, especially in the Americas and a high comparison base, especially in China," said Mik ...

Autoliv Inc. (ALV) reported third-quarter 2024 adjusted earnings of $1.84 per share, which missed the Zacks Consensus Estimate of $2 but rose 11% year over year. The company reported net sales of $2.56 billion in the quarter, which beat the Zacks Consensus Estimate of $2.54 million but fell 1.6% year over year.Stay up-to-date with the quarterly releases: See Zacks Earnings Calendar.Organic sales fell 0.8% year over year and missed our estimate of 1.5% due to a negative light vehicle production mix in China. ...

Financial Data and Key Metrics - Sales decreased by 160 basis points year-over-year, or by $42 million, due to unfavorable currency translation effects, lower light vehicle production, and a negative regional light vehicle production mix [12] - Adjusted operating income for Q3 decreased by 2% to $237 million from $243 million last year, with the adjusted operating margin virtually unchanged despite lower sales [12] - Operating cash flow was $177 million, $25 million lower compared to Q3 last year [12] - Earnings per share improved by 11%, driven by a lower number of outstanding shares and a lower tax rate [9] - The company repurchased and retired 1.3 million shares for $130 million in the quarter, with over 10% of outstanding shares repurchased for $917 million under the current mandate [9] Business Line Data and Key Metrics - The company outperformed global light vehicle production by four percentage points, driven by product launches and pricing, particularly in Japan, the rest of Asia, and Europe [14] - In China, domestic OEMs accounted for 39% of sales, with sales to this group growing by 18% versus a year ago, more than twice their light vehicle production growth of 8.5% [15] - The company saw a record number of significant product launches in the quarter, with four models from Chinese OEMs and two from Indian OEMs, highlighting its growing position in these markets [16] Market Data and Key Metrics - Global light vehicle production declined by nearly 5% in Q3, with significant reductions in North America, Europe, and Asia (excluding China), offset by increased output from domestic OEMs in China [10] - The unfavorable regional light vehicle production mix significantly impacted the company's top-line performance, with a 130 basis points negative impact on outperformance [14] - In China, the company expects to start outperforming in 2025, driven by major new launches in the second half of 2024 [19] Company Strategy and Industry Competition - The company is focused on reducing its indirect workforce by up to 2,000 and achieving related savings of $50 million in 2024, with direct headcount reduced by around 6% [8] - Autoliv is leveraging its global volumes and footprint to optimize its supply base and support customers' overseas expansion strategies, particularly in China [22] - The company is at the forefront of innovation in China, collaborating with local universities, research institutes, and leading customers to drive advancements in automotive safety technologies [18] Management Commentary on Operating Environment and Future Outlook - The company expects a significant increase in profitability in Q4, supported by higher light vehicle production, structural cost reductions, and favorable currency effects, though partly offset by supplier cost inflation [32] - The full-year 2024 guidance for adjusted operating margin is around 9.5% to 10%, with the company expecting to be at the low end of this range [33] - Management remains committed to achieving a 12% adjusted operating margin target, with normalization of call-offs, direct labor efficiency, and strategic initiatives being key drivers [55] Other Important Information - The company has achieved around $470 million in working capital improvements as part of its capital efficiency program, with further improvements expected as call-off volatility decreases [28] - Autoliv's leverage ratio remains virtually unchanged at 1.4 times, reflecting its prudent financial management and commitment to maintaining a strong balance sheet [29] Q&A Session Summary Question: Cost Takeout Program Progress - The company has reduced indirect headcount by over 1,200 and direct headcount by around 6%, with savings progressing as expected [36] Question: Supplier Settlement Impact - The $14 million supplier settlement in Q3 is expected to decrease linearly to close to zero by Q3 2025, with impacts in Q4 2024 and H1 2025 [42] Question: Margin Improvement Drivers - The company expects margin improvement from structural cost initiatives, normalization of call-offs, and strategic initiatives, with around 1% contribution from each [55] Question: Chinese OEMs and Market Share - Autoliv is gaining traction with Chinese OEMs, with market share expected to rise from 20% in 2022 to 32% by 2025 [21] Question: Call-Off Accuracy and New Normal - Management does not believe the current call-off volatility represents a new normal and expects a return to historical levels, which is a key assumption for achieving the 12% margin target [51] Question: CapEx and Investment Cycle - CapEx is expected to trend down from 5.5% of sales, with a target of around 5% over time, though it will remain above this level in 2025 due to ongoing investments [81] Question: Profitability in China - The company does not disclose specific profitability metrics by region but focuses on the overall portfolio of programs, with some being more profitable than others [84] Question: Working Capital Impact from Chinese OEMs - Chinese OEMs tend to have longer payment terms, but the company has managed this through its supply base, with no significant net impact on working capital [89]

Core Insights - Autoliv shares experienced a significant increase following the release of strong third-quarter results, despite a global decline in light vehicle production [1][2] - The company reported adjusted earnings per share (EPS) of $1.84 and revenue of $2.56 billion, reflecting a 0.8% year-over-year decline, both figures aligning with analysts' expectations [1] Group 1 - CEO Mikael Bratt indicated that the company managed to outperform light vehicle production, maintaining nearly unchanged sales and operating income in a challenging environment [2] - Autoliv demonstrated substantial outperformance in Europe and Asia, excluding China, and anticipates market share gains with domestic Chinese OEMs in the coming years [2] - The company expects a global decline of 3% in light vehicle production for the year and has revised its organic sales growth outlook to approximately 1%, down from 2% [2]

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Autoliv, Inc. (ALV) reported $2.56 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 1.6%. EPS of $1.84 for the same period compares to $1.66 a year ago.The reported revenue represents a surprise of +0.80% over the Zacks Consensus Estimate of $2.53 billion. With the consensus EPS estimate being $2.00, the EPS surprise was -8.00%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stre ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File No.: 001-12933 AUTOLIV, INC. (Exact name of registrant as specified in its charter) Delaware 51-0378542 (State or other jurisdiction of (I.R.S. Em ...

Autoliv, Inc. (ALV) came out with quarterly earnings of $1.84 per share, missing the Zacks Consensus Estimate of $2 per share. This compares to earnings of $1.66 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -8%. A quarter ago, it was expected that this company would post earnings of $2.44 per share when it actually produced earnings of $1.87, delivering a surprise of -23.36%.Over the last four quarters, the company has surp ...

STOCKHOLM, Oct. 18, 2024 /PRNewswire/ -- (NYSE: ALV) (SSE: ALIV.sdb)Q3 2024: Solid sales outperformanceFinancial highlights Q3 2024$2,555 million net sales1.6% net sales decrease0.8% organic sales decline*8.9% operating margin9.3% adjusted operating margin*$1.74 diluted EPS, 11% increase$1.84 adjusted diluted EPS*, 11% increaseFull year 2024 guidanceAround 1% organic sales growthAround 1% negative FX effect on net salesAround 9.5-10.0% adjusted operating marginAround $1.1 billion operating cash flowAll chan ...

Exhibit 99.1 Financial Report July - September 2024 Stockholm, Sweden, October 18, 2024 (NYSE: ALV and SSE: ALIV.sdb) Financial Report July - September 2024 Q3 2024: Solid sales outperformance Financial highlights Q3 2024 Full year 2024 guidance $2,555 million net sales 1.6% net sales decrease 0.8% organic sales decline* 8.9% operating margin 9.3% adjusted operating margin* $1.74 diluted EPS, 11% increase $1.84 adjusted diluted EPS*, 11% increase Around 1% organic sales growth Around 1% negative FX effect o ...