Fri, Jul 19, 1:18 PM (50 days ago)
Autoliv, Inc.'s Q2 2024 financial report reveals a mixed performance. Net sales decreased slightly by 1.1% year-over-year to $2.605 billion, with a 0.7% organic sales growth. Gross profit improved by 6.2% to $475 million, driven by cost reductions and better pricing, despite higher material costs. Operating income surged to $206 million from $94 million, with an operating margin of 7.9%. Adjusted operating income rose to $221 million, reflecting successful cost management. Net income jumped to $139 million, translating to an EPS of $1.71, up 178% from the previous year. Free cash flow was $194 million, down from $255 million, mainly due to higher capital expenditures. The leverage ratio improved to 1.2x. The company remains focused on achieving an adjusted operating margin of around 12% for the full year, despite adjusting its full-year guidance slightly due to changes in light vehicle production and adverse customer mix.