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HomeBusinessAutoliv Shares Up 8 percent Since Q3 Announcement

Autoliv Shares Up 8 percent Since Q3 Announcement

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Autoliv (NYSE:ALV) shares rose more than 8% since the company’s reported Q3 results on Friday. Both EPS of $1.23 and revenue of $2.3 billion came in line with the Street estimates.
Q3 revenues grew 25% year-over-year (up 32% organic), and operating margins came in at 7.5%, above the Street estimate of 7.2%. 2022 organic growth was indicated at 15%, while margins are now indicated at the upper end of the 6-7% range implying Q4 margins of close to 10%. Full-year raw material headwind also lowered to 5% from 5.5% so inputs moving in the right direction.
Analysts at RBC Capital provided their views on the company. While there is still a good level of industry uncertainty, the analysts were encouraged by margin progression, positive conversations on recoveries and margin drivers into 2023. The analysts raised their price target to $93 from $90, while maintaining their Outperform rating.

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