Autoliv Q2 2023: Record sales $2.64B, adj. operating margin 8.0%, full-year guidance reaffirmed

AUTOLIV INC

2023-Q2 EPS reported $1.47 revenue$5,127,000,000

Q2 net sales $2,635M (+27% reported, +27% organic); operating income $94M (3.6% margin), adjusted operating income $212M (8.0% margin).
GAAP EPS $0.61 (-32% YoY); adjusted EPS $1.93 (+115% YoY) driven by price increases, volume growth, cost savings.
Operating cash flow $379M vs -$51M YoY; free cash flow $255M.
Full-year 2023 indications: organic sales growth ~15%, adj. operating margin ~8.5%-9%, operating cash flow ~$900M.
Announced structural cost reduction program: ~$25M 2024, ~$55M 2025, ~$75M full run-rate; settled Andrews litigation for $8M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AUTOLIV INC reported Q2 2023 results: revenue $2,635 million, EPS $0.61. Guidance reaffirmed.

Period: Q2 2023
Revenue: $2,635 million
EPS: $0.61
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Q2 2023: Record second quarter sales Financial highlights Q2 2023 $2,635 million net sales 27% net sales increase 27% organic sales increase* 3.6% operating margin 8.0% adjusted operating margin* $0.61 EPS, 32% decrease $1.93 adjusted EPS*, 115% increase

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AUTOLIV INC updated its full year 2023 guidance (reaffirmed).

Period: full year 2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Full year 2023 indications Our outlook indications for 2023 are mainly based on our customer call-offs, a full year 2023 global LVP growth of around 4%, that we achieve our targeted cost compensation effects, and that customer call-off volatility is reduced. Full Year Indication Full Year Indication Organic sales growth Around 15% Tax rate 2) Around 32% FX impact on net sales Around 1% positive Operating cash flow 3) Around $900 million Adjusted operating margin 1) Around 8.5%-9% Capex, net, of sales Around 6%

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Source: SEC EDGAR

accession 0000950170-23-033744

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