Autoliv, Inc (STO: ALIV SDB, NYSE: ALV) announced its quarterly results last week. The company had been predicting flat organic sales growth for the second quarter but instead reported organic sales growth of 5%. Autoliv cited IHS Automotive’s estimation that global light vehicle production declined by 1% for the quarter. The firm said that the earthquake in Japan hurt the company's bottom line.
Autoliv is expecting further growth in Q3 and operating margin to stay at 10% level. Couple days after the report Autoliv announced that it has signed a cooperation agreement with Great Wall Motor Co., Ltd., China’s leading SUV and pickup manufacturer, in automotive safety systems. This agreement builds on a lengthy business relationship between the companies. Autoliv’s stock is still facing downward pressure in the aftermath of the announcement on ongoing antitrust inquiries, an issue that was raised in the quarterly report as well.
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