UPDATE 1-Autoliv slashes full-year outlook after quarterly profit slide [Reuters]
Autoliv, Inc. (ALV)
Last autoliv, inc. earnings: 4/24 06:00 am
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Source: Reuters
UPDATE 1-Autoliv slashes full-year outlook after quarterly profit slide - Reuters 2 Min Read (Adds CEO comment, details) STOCKHOLM, July 19 (Reuters) - Sweden’s Autoliv cut its 2019 sales growth outlook on Friday, as the car safety equipment maker became the latest casualty of a deteriorating auto industry to report weaker than expected quarterly earnings. Autoliv said it was stepping up actions to curb costs, which included plans to cut about 5% of its indirect workforce and implement a sharper purchasing process. During the quarter, it cut 1,200 jobs. Several carmakers, including Autoliv’s top customers Daimler and BMW, along with its suppliers have issued warnings in recent weeks as an expected recovery in demand has not panned out and trade wars inflate costs. Autoliv, the world’s largest maker of airbags and seatbelts, said it had experienced a challenging second quarter, dominated by “severe weakness” in global car markets and high raw material costs that reduced profitability.
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News
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ALV
Earnings
- 1/26/24 - Beat
ALV
Sec Filings
- 3/28/24 - Form 4
- 3/28/24 - Form 4
- 3/28/24 - Form 4
- ALV's page on the SEC website