- Autoliv Inc ALV reported fourth quarter FY22 revenue growth of 10% year over year to $2.33 billion, miss the consensus of $2.44 billion.
- Adjusted operating margin for the quarter was 10%, compared to 8.3% a year earlier. Adjusted operating income increased 31% to $233 million.
- Return on investment increased to 24.3%, adjusted return on investment was 24.9%.
- Gross profit for the quarter increased 8.3% year over year to $399 million on a gross margin of 17.1%.
- “In 2022, we faced the worst cost inflation in three decades, which initially significantly impacted our profitability,” said CEO Mikael Bratt.
- “Aggressive pricing has enabled us to gradually recover from this raw material cost inflation and profitability was restored towards the end of the year.”
- Adjusted EPS of $1.83 beat analyst consensus of $1.76.
- Operating cash flow totaled $462 million for the quarter. The company had $594 million in cash and cash equivalents at the end of the fourth quarter.
- Net debt as of December 31, 2022 was $1.18 billion.
- outlook: Autoliv expects FY23 organic revenue growth of around 15%.
- The company expects its adjusted operating margin to be around 8.5% to 9%.
- ALV sees operating cash flow of around $900 million.
- Price promotion: ALV shares traded 4.82% higher to $89.02 during Friday’s premarket session.
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