Core Insights - Autoliv, Inc. reported revenue of $2.61 billion for the quarter ended June 2024, reflecting a year-over-year decline of 1.1% [1] - The earnings per share (EPS) for the quarter was $1.87, down from $1.93 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $2.77 billion by 6.09%, and the EPS was 23.36% below the consensus estimate of $2.44 [1] Sales Performance - Sales of Airbags, Steering Wheels, and Other products showed an organic change of 1.2%, compared to an estimated 6.2% by analysts [2] - Sales of Seatbelt Products experienced an organic change of -0.3%, against an estimated 4.2% by analysts [2] - Overall sales by segment had an organic change of 0.7%, while the estimate was 6.6% [2] - Actual sales for Seatbelt Products were $858 million, lower than the estimated $908.63 million, representing a -2.3% change year-over-year [2] - Sales for Airbags, Steering Wheels, and Other products were reported at $1.75 billion, compared to the average estimate of $1.87 billion, indicating a -0.6% change year-over-year [2] Stock Performance - Autoliv's shares have returned +1.8% over the past month, outperforming the Zacks S&P 500 composite's +1.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

PART I - FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) Presents unaudited condensed consolidated financial statements for Q2 and H1 2024, covering income, balance sheets, cash flows, and detailed notes [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Consolidated Statements of Income (Unaudited) | Metric | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | **$2,605M** | **$2,635M** | **$5,220M** | **$5,127M** | | Gross profit | $475M | $447M | $917M | $826M | | Operating income | $206M | $94M | $400M | $221M | | **Net income attributable to controlling interest** | **$138M** | **$53M** | **$265M** | **$127M** | | **Net earnings per share – diluted** | **$1.71** | **$0.61** | **$3.23** | **$1.47** | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (Unaudited) | Metric | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total current assets** | **$3,703M** | **$3,974M** | | Cash and cash equivalents | $408M | $498M | | **Total assets** | **$8,010M** | **$8,332M** | | **Total current liabilities** | **$3,785M** | **$4,035M** | | Long-term debt | $1,540M | $1,324M | | **Total equity** | **$2,311M** | **$2,570M** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Condensed Consolidated Statements of Cash Flows (Unaudited) | Metric | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | **$462M** | **$334M** | | Net cash used in investing activities | ($286M) | ($267M) | | Net cash used in financing activities | ($269M) | ($168M) | | **Net decrease in cash and cash equivalents** | **($90M)** | **($119M)** | [Notes to the Financial Statements](index=9&type=section&id=Notes%20to%20the%20Financial%20Statements) - In February 2024, the Company issued 5.5-year notes for **€500 million** with a **3.625% coupon**, maturing in August 2029. In April 2024, the Company repaid **$297 million** of US Private Placement debt[32](index=32&type=chunk) - The effective tax rate for the six months ended June 30, 2024 was **25.5%**, down from **33.4%** for the same period in 2023[35](index=35&type=chunk) - The restructuring reserve balance was **$189 million** as of June 30, 2024, primarily related to the global structural cost reduction program initiated in Europe in 2023[39](index=39&type=chunk) - The Company is involved in a multi-district litigation regarding ARC airbag inflators and is also monitoring a NHTSA initial decision to recall approximately **52 million** ARC and Delphi inflators. A loss is considered reasonably possible for both matters, but no accrual has been made as an estimate of potential loss cannot be determined[55](index=55&type=chunk)[56](index=56&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=21&type=section&id=ITEM%202.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management discusses Q2 and H1 2024 financial results, noting improved profitability from cost reductions and better pricing, and provides full-year 2024 guidance [Executive Overview](index=22&type=section&id=Executive%20Overview) Q2 2024 Financial Highlights | Metric | Value | Change vs. Q2 2023 | | :--- | :--- | :--- | | Net Sales | $2,605M | -1.1% | | Organic Sales Growth | 0.7% | N/A | | Operating Margin | 7.9% | +4.3pp | | Adjusted Operating Margin | 8.5% | +0.5pp | | EPS | $1.71 | +178% | | Adjusted EPS | $1.87 | -3% | - Profitability improvement was driven by better pricing and successful cost reductions, including a reduction of **1,100 indirect headcount** since the program's start. The leverage ratio improved to **1.2x**[72](index=72&type=chunk) - The company underperformed in China due to an unfavorable market mix, where models with low Autoliv content grew strongly while key global customers' production declined. However, sales to domestic Chinese OEMs grew by **39% YoY**[72](index=72&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) Q2 2024 vs. Q2 2023 Sales Development | Region | Organic Sales Growth | LVP Growth | Out/Under Performance | | :--- | :--- | :--- | :--- | | Americas | (2.8)% | (0.5)% | (2.3)pp | | Europe | 1.6% | (6.1)% | +7.7pp | | China | (2.8)% | 4.5% | (7.3)pp | | Asia excl. China | 10.0% | (2.6)% | +12.6pp | | **Global** | **0.7%** | **(0.7)%** | **+1.4pp** | H1 2024 vs. H1 2023 Sales Development | Region | Organic Sales Growth | LVP Growth | Out/Under Performance | | :--- | :--- | :--- | :--- | | Americas | 0.7% | (0.3)% | +1.0pp | | Europe | 2.6% | (3.4)% | +6.0pp | | China | 1.6% | 5.6% | (4.0)pp | | Asia excl. China | 9.1% | (4.6)% | +13.7pp | | **Global** | **3.0%** | **(0.3)%** | **+3.3pp** | - In Q2 2024, operating income increased to **$206 million** from **$94 million** in Q2 2023, primarily due to lower capacity alignment accruals (**$14 million** in Q2'24 vs **$109 million** in Q2'23) and a **$28 million** increase in gross profit[88](index=88&type=chunk)[89](index=89&type=chunk) [Liquidity and Capital Resources](index=29&type=section&id=Liquidity%20and%20Capital%20Resources) Cash Flow Summary (Six Months Ended June 30) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Operating Cash Flow | $462M | $334M | | Capital Expenditure, net | ($286M) | ($267M) | | **Free Cash Flow** | **$176M** | **$66M** | - As of June 30, 2024, the company's liquidity position was approximately **$1.5 billion**, including a cash balance of **$0.4 billion** and committed, unused loan facilities[100](index=100&type=chunk) - The leverage ratio (Net Debt + Pension Liabilities / Adjusted EBITDA) improved to **1.2x** as of June 30, 2024, compared to **1.3x** a year earlier[100](index=100&type=chunk)[112](index=112&type=chunk) [Full Year 2024 Guidance](index=33&type=section&id=Full%20year%202024%20guidance) Full Year 2024 Financial Indication | Financial Measure | Indication | | :--- | :--- | | Organic sales growth | Around 2% | | Foreign currency impact on net sales | Around 1% negative | | Adjusted operating margin | Around 9.5-10.0% | | Tax rate | Around 28% | | Operating cash flow | Around $1.1 billion | | Capital expenditures, net (% of sales) | Around 5.5% | [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company reports no material changes to market risk disclosures since its 2023 Annual Report on Form 10-K - No material changes to market risk disclosures have occurred since the 2023 Form 10-K filing[123](index=123&type=chunk) [Controls and Procedures](index=35&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures are effective as of June 30, 2024[124](index=124&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[124](index=124&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=36&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) This section refers to Note 9 of the financial statements for a summary of ongoing legal proceedings arising in the ordinary course of business - Information regarding legal proceedings is incorporated by reference from Part I, Item 1, Note 9 'Contingent Liabilities'[126](index=126&type=chunk) [Risk Factors](index=36&type=section&id=ITEM%201A.%20RISK%20FACTORS) The company reports no material changes to the risk factors previously disclosed in its 2023 Annual Report on Form 10-K - No material changes to risk factors have occurred since the 2023 Form 10-K filing[127](index=127&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) This section details common stock repurchases during Q2 2024 as part of the publicly announced stock repurchase program Stock Repurchases (Q2 2024) | Period | Total Shares Purchased | Average Price Paid per Share (USD) | | :--- | :--- | :--- | | April 1-30, 2024 | — | — | | May 1-31, 2024 | 779,394 | $124.67 | | June 1-30, 2024 | 530,212 | $118.56 | - The stock repurchase program, announced in November 2021, authorizes repurchases up to **$1.5 billion** or **17 million shares**, whichever comes first, through the end of 2024[129](index=129&type=chunk) [Other Information](index=36&type=section&id=ITEM%205.%20OTHER%20INFORMATION) The company reports no director or officer adopted or terminated a Rule 10b5-1 trading arrangement during Q2 2024 - During the three months ended June 30, 2024, no director or officer adopted or terminated a Rule 10b5-1 trading arrangement[131](index=131&type=chunk) [Exhibits](index=37&type=section&id=ITEM%206.%20EXHIBITS) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL data files, referencing previously filed documents - The report includes certifications from the CEO and CFO as required by the Securities Exchange Act of 1934 and the Sarbanes-Oxley Act of 2002[132](index=132&type=chunk)

Autoliv, Inc. (ALV) came out with quarterly earnings of $1.87 per share, missing the Zacks Consensus Estimate of $2.44 per share. This compares to earnings of $1.93 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -23.36%. A quarter ago, it was expected that this company would post earnings of $1.40 per share when it actually produced earnings of $1.58, delivering a surprise of 12.86%.Over the last four quarters, the company ha ...

Exhibit 99.1 Financial Report April - June 2024 Stockholm, Sweden, July 19, 2024 (NYSE: ALV and SSE: ALIV.sdb) Autoliv Financial Report April - June 2024 Q2 2024: Sales headwinds from lower LVP Financial highlights Q2 2024 $2,605 million net sales 1.1% net sales decrease 0.7% organic sales growth* 7.9% operating margin 8.5% adjusted operating margin* $1.71 EPS, 178% increase $1.87 adjusted EPS*, 3% decrease Full year 2024 guidance Around 2% organic sales growth Around 1% negative FX effect on net sales Arou ...

Share Repurchase and Issued Shares - Autoliv retired 1,309,606 shares of common stock that had been repurchased during the quarter, resulting in a decrease in the issued shares [1] - The total number of issued shares of common stock is now 84,816,615, with 80,079,757 shares outstanding [1] - After the retirement of the repurchased shares, Autoliv holds 4,736,858 shares of common stock in treasury, which have no voting rights or rights to participate in distributions under Delaware law [1] Company Overview - Autoliv is the worldwide leader in automotive safety systems, developing, manufacturing, and marketing protective systems such as airbags, seatbelts, and steering wheels for major automotive manufacturers [2] - The company also provides mobility safety solutions, including pedestrian protection, connected safety services, and safety solutions for riders of powered two-wheelers [2] - In 2023, Autoliv's products saved 35,000 lives and reduced more than 450,000 injuries [2] Operational and Financial Highlights - Autoliv has 70,000 associates in 25 countries and operates 14 technical centers with 20 test tracks [3] - The company's sales in 2023 amounted to $10.5 billion [3] - Autoliv is committed to driving innovation, research, and development to sustainably deliver leading safety solutions [3]

The prospects of the Zacks Automotive - Original Equipment industry are subdued amid a potential slowdown in the vehicle growth rate. High borrowing costs and delays in the Fed rate cut have increased challenges for industry participants closely tied to auto sales. Additionally, rising operational expenses and evolving industry dynamics pose further headwinds. Balancing revenue generation appears to be difficult, with success depending on effective cost-management strategies. However, companies such as Auto ...

Core Insights - The article emphasizes the importance of utilizing Zacks Premium for investors to enhance their stock market strategies and confidence in investing [1] Zacks Style Scores - Zacks Style Scores categorize stocks into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [2][3][4] - The Value Score identifies undervalued stocks using financial ratios like P/E and Price/Sales [2] - The Growth Score assesses stocks based on projected earnings and sales growth [2] - The Momentum Score evaluates stocks based on price trends and earnings estimate changes [3] - The VGM Score combines all three styles to highlight stocks with the best overall potential [4] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors in stock selection [5] - Stocks rated 1 (Strong Buy) have historically outperformed the S&P 500, with an average annual return of +25.41% since 1988 [5] - Investors are encouraged to focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal returns [6] Company Spotlight: Autoliv, Inc. (ALV) - Autoliv, based in Stockholm, specializes in occupant safety products and has a Zacks Rank of 2 (Buy) with a VGM Score of B [7] - The company is projected to achieve year-over-year earnings growth of 19.1% for the current fiscal year [7] - Recent upward revisions in earnings estimates by analysts indicate a positive outlook, with the Zacks Consensus Estimate rising to $9.75 per share [7] - Autoliv's average earnings surprise stands at 14.1%, making it a strong candidate for growth investors [8]

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued ...

STOCKHOLM, June 21, 2024 /PRNewswire/ -- On World Motorcycle Day, June 21, Autoliv, Inc. (NYSE: ALV) (SSE: ALIV-SDB), the worldwide leader in automotive safety systems, and the UN Road Safety Fund (UNRSF) announced the renewal of their collaboration to enhance motorcycle safety globally. The collaboration supports UN Sustainable Development Goal 3.6 which aims to reduce road traffic fatalities and injuries by 2030, and Autoliv's goal of saving 100,000 lives annually.Motorcycle safety will be the key focus f ...

STOCKHOLM, June 19, 2024 /PRNewswire/ -- Autoliv Inc., plans to publish its Financial Report for the second quarter 2024 on Friday, July 19, 2024 at 12:00 Central European Time (CET).The report will be available at www.autoliv.com  In addition, a teleconference will take place the same day. Q2 2024 Earnings Call: Date: July 19, 2024 Time: 14:00 – 15:00 CET Main speaker: Mikael Bratt, President & CEO Best regards,Anders TrappV.P. Investor Relations Email:[email protected] Phone: +46 (0)8 587 206 71This infor ...