Autoliv Q4 Profit Rises, Tops Estimates
(RTTNews) - Swedish automotive safety supplier Autoliv, Inc. (ALV) reported Friday that net income for the fourth quarter increased to $156 million or $1.80 per share from $115 million or $1.31 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $1.83 per share, compared to $1.30 per share in the year-ago quarter.
On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $1.76 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter grew 10 percent to $2.34 billion from $2.12 billion in the same quarter last year. Organic sales increased 18 percent. Analysts expected revenues of $2.44 billion for the quarter.
Looking ahead to fiscal 2023, the company expects organic sales growth of around 15 percent. The Street is looking for sales growth of 7.4 percent to $9.56 billion for the year.
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