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Autoliv, Inc. (NYSE:ALV) reported fourth-quarter FY23 sales growth of 18% year-on-year to $2.751 billion, almost in line with the analyst consensus estimate.
Adjusted EPS of $3.74 beat the analyst consensus estimate of $3.27.
The company said it outperformed in all regions, except China, mainly due to new product launches and higher prices.
Adjusted operating margin for the quarter was 12.1%, expanding from 10% last year. Adjusted operating income increased by 43% to $334 million.
Return on capital employed expanded marginally to 24.4% from 24.3%.
“2023 order intake was the highest in the past five years, supporting our around 45% market share position, with a good mix of new and traditional OEMs as well as EV and ICE platforms,” said President and CEO Mikael Bratt.
“The seasonality of past years is likely to be repeated in 2024…,” Bratt added.
Outlook: Autoliv expects FY24 organic sales growth of 5% with around $1.2 billion operating cash flow.
The company sees first-quarter adjusted operating margin of around 7%, leading to a full-year 2024 adjusted operating margin of around 10.5%.
Price Action: ALV shares are trading higher by 4.97% at $108.76 on the last check Friday.
Posted In: ALV
