Autoliv Misses Estimates and Cuts Outlook as Auto Sales Slow

Core Insights - Autoliv reported a decline in second-quarter sales due to a slump in car demand, leading to a reduction in its guidance for the year [1] - The company missed both quarterly profit and revenue estimates, with adjusted earnings per share (EPS) at $1.87 and revenue down 1.1$2.61 billion [1] - Autoliv has revised its full-year organic sales growth outlook down to approximately 2% from the previous estimate of about 5% and adjusted its operating margin forecast to around 9.5% to 10% from about 10.5% [3] Company Performance - CEO Mikael Bratt indicated that light vehicle production with key customers was lower than expected, particularly in June, due to weaker sales and inventory adjustments [2] - The company anticipates a 5.5% decline in worldwide light vehicle production for the third quarter and a 2.2% decrease for the entire year of 2024 [3] - Following the announcement, Autoliv's shares fell approximately 8% to $99.82, marking the lowest level in eight months [3]