Automotive Safety Supplier Autoliv's Q2 Hurt By Low Light Vehicle Production: Details
Automotive Safety Supplier Autoliv's Q2 Hurt By Low Light Vehicle Production: Details
Autoliv Inc. (NYSE:ALV) shares are trading lower after the company reported worse-than-expected second-quarter FY24 earnings and lowered the outlook.
奥托立夫公司（NYSE：ALV）发布了比预期更糟糕的2024财年第二季度业绩，并下调了业绩预期，导致股价下跌。
The company reported a second-quarter FY24 sales decline of 1.1% year-on-year to $2.605 billion, missing the analyst consensus estimate of $2.74 billion.
该公司报告了2024财年第二季度销售额下降了1.1％至26.05亿美元，未达到分析师共识预期的27.4亿美元。
The company said it underperformed in the Americas and China, mainly due to lower light vehicle production with certain key customers, as a consequence of weaker sales and inventory reductions.
该公司表示，在美洲和中国市场表现不佳，主要是由于某些关键客户的轻型车生产量减少，因为销售疲软和库存降低的结果。
Adjusted operating margin for the quarter was 8.5% versus 8% last year. Adjusted operating income increased 4.4% to $221 million.
本季度调整后的营业利润率为8.5％，去年为8％。调整后的营业收入增长了4.4％至2.21亿美元。
Return on capital employed expanded to 1,150 basis points to 21%.
资本雇用回报率扩大了1150个基点，至21％。
Gross profit for the quarter increased 6.2% Y/Y to $475 million with a gross margin of 18.2%.
本季度的毛利润为4750万美元，同比增长6.2％，毛利率为18.2％。
"We remain on track with our strategic and structural initiatives to sustainably strengthen our footprint and operations. However, light vehicle production with certain key customers following weaker sales and inventory adjustments were lower than expected in the quarter, especially in June. The lower than expected sales impacted our profitability with an operating leverage at the high end of our normal 20%-30% range," said President and CEO Mikael Bratt.
总裁兼首席执行官Mikael Bratt表示：“我们仍在按计划推进可持续加强我们的足迹和业务的战略和结构性举措。然而，在某些关键客户的轻型车销售和库存调整导致的生产下降低于预期，尤其是在六月份。销售低于预期影响了我们的盈利能力，营业杠杆率处于我们正常区间20％-30％的高端。”
"It is encouraging that customer production plans for the third quarter are normalizing, indicating that the June weakness should be temporary."
他还表示：“值得鼓励的是，客户的生产计划正在恢复正常，这表明6月份的疲软应该是暂时的。”
Adjusted EPS of $1.87 missed the analyst consensus estimate of $2.23.
调整后的EPS为1.87美元，未达到分析师共识预期的2.23美元。
Operating cash flow totaled $340 million for the quarter, with a free cash flow of $194 million. The company held cash and equivalents of $408 million as of June-end.
本季度运营现金流为3.4亿美元，自由现金流为1.94亿美元。截至6月底，公司持有4080万美元的现金及现金等价物。
Net debt at the end of the second quarter amounted to $1.58 billion.
截至第二季度末，净债务总额为1.58亿美元。
Outlook: Autoliv lowered its FY24 organic sales growth outlook from 5% to around 2%.
前景：奥托立夫将其2024财年有机销售增长预测从5％降至约2％。
The company also lowered adjusted operating margin guidance from 10.5% to around 9.5% – 10%. Autoliv expects $1.1 billion in operating cash flow.
该公司还将调整后的营业利润率指导下调至约9.5％-10％，从10.5％。奥托立夫预计将实现11亿美元的运营现金流。
Price Action: ALV shares are trading lower by 7.52% at $100.42 during the pre-market session on Friday.
股价：周五盘前交易中，奥托立夫公司（ALV）股价下跌7.52％至100.42美元。
Photo via Shutterstock
图片来自shutterstock。