Automotive Safety Supplier Autoliv's Q2 Hurt By Low Light Vehicle Production: Details
Portfolio Pulse from Shivani Kumaresan
Autoliv Inc. (NYSE:ALV) reported worse-than-expected Q2 FY24 earnings, with a 1.1% sales decline to $2.605 billion, missing the $2.74 billion estimate. The company lowered its FY24 outlook due to lower light vehicle production and weaker sales. ALV shares fell 7.52% in pre-market trading.
July 19, 2024 | 11:54 am
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Autoliv Inc. reported a 1.1% decline in Q2 FY24 sales to $2.605 billion, missing the $2.74 billion estimate. The company lowered its FY24 outlook due to lower light vehicle production and weaker sales. ALV shares fell 7.52% in pre-market trading.
The worse-than-expected Q2 earnings and lowered FY24 outlook indicate potential challenges ahead for Autoliv. The decline in light vehicle production and weaker sales are significant factors impacting the company's performance. The 7.52% drop in pre-market trading reflects investor concerns.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100