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Stock impact report

Sweden's Autoliv profit tops forecast as Chinese recovery boosts [Reuters]

Autoliv, Inc. (ALV) 
Last autoliv, inc. earnings: 4/24 06:00 am Check Earnings Report
US:NYSE Investor Relations: autoliv.com/investors
Company Research Source: Reuters
Sweden's Autoliv profit tops forecast as Chinese recovery boosts STOCKHOLM (Reuters) - Autoliv ( ALV.N ), the world’s largest producer of airbags and seatbelts, reported a much smaller than expected fall in the quarterly earnings on Friday and said it had seen a recovery in demand and output gain momentum in China, lifting its shares. First-quarter adjusted operating earnings at the Sweden-based group fell to $134 million from a year-ago $173 million but easily beat a consensus forecast of $72 million based on a poll of analysts published by the company. The company, which competes with ZF TRW as well as Joyson Safety Systems, has already embarked on wide-ranging cost cuts after the lockdowns to slow the pandemic saw carmakers across the world at varying times shutting down production. Underlining the severity of the plunge in demand and ruptured supply chains that have beset the automotive industry, Autoliv earlier this month withdrew its guidance for the year and said most of its Show less Read more
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