Autoliv rises in Stockholm after it outperforms global LVP growth in Q3

Autoliv

18/10/2024 12:27

** Stockholm-listed shares of Autoliv  ALIVsdb.ST  jump
nearly 9% after the Swedish car safety equipment maker said it
outgrew global light vehicle production (LVP) and posted Q3
earnings matching expectations
    ** Q3 operating profit adjusted for litigation and other
non-recurring costs came in at $237 million, slightly below the
$238 million expected by the analysts in a company-provided poll
    ** "Q3 demonstrated Autoliv's outperformance versus the
global light vehicle production (LVP) growth from market share
gains," says Handelsbanken analyst Hampus Engellau
    ** He adds that given the significant profit warnings seen
especially from Germany and some U.S. OEMs, market feared a
bigger earnings miss and cut outlook
    ** "Additionally they have speeded up cost measures
significantly in Q3 why 2025 looks strong provided S&P Global
forecast of global LVP growing 2.4%," Engellau says
    ** The stock is on track for its best day since July 2023 if
the gains hold



 (Reporting by Jagoda Darlak)
 ((Jagoda.Darlak@thomsonreuters.com; +48 58 769 65 40;))