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]

Key TakeawaysAutoliv shares surged Friday after the world’s largest maker of airbags and seatbelts reported strong third-quarter results, despite a drop in light vehicle production globally.The company said it saw substantial outperformance in Europe and Asia, except for China.Despite Friday's gains, shares remained lower for 2024. Autoliv (ALV) shares surged Friday after the world’s largest maker of airbags and seatbelts reported strong third-quarter results, despite a drop in light vehicle production ami ...

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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 ...

The upcoming report from Autoliv, Inc. (ALV) is expected to reveal quarterly earnings of $2.17 per share, indicating an increase of 30.7% compared to the year-ago period. Analysts forecast revenues of $2.57 billion, representing a decrease of 1.1% year over year.The current level reflects a downward revision of 0.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this perio ...