Why Autoliv Shares Are Gaining Today
Portfolio Pulse from Shivani Kumaresan
Autoliv Inc reported Q2 FY23 sales growth of 27% YoY to $2.63 billion, beating the analyst consensus. Adjusted operating income increased 71% to $212 million. The company announced a cost reduction plan expected to save around $75 million when fully completed. Adjusted EPS of $1.93 beat the analyst consensus. Autoliv continues to see FY23 organic sales growth of around 15%, adjusted operating margin of around 8.5%-9%, and $900 million in operating cash flow.
July 21, 2023 | 10:51 am
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Autoliv reported strong Q2 FY23 results, beating analyst expectations. The company also announced a cost reduction plan which is expected to save significant costs in the coming years.
Autoliv's strong Q2 FY23 results and the announcement of a cost reduction plan are positive news for the company. This could lead to increased investor confidence and a potential rise in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100