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Autoliv (NYSE:ALV) shares surged over 6% at pre-market highs after its Q3 earnings launch promised continued gross sales and margin enchancment in coming quarters.
In an 8-Okay submitting on Friday, the Swedish automotive security provider posted slender misses on high and backside strains, arising wanting lately raised consensus estimates. The submitting additionally indicated that adjusted working revenue for the primary 9 months of the 12 months has fallen 28% from the determine reached in the identical interval final 12 months regardless of a 6.5% enhance in gross sales.
“Worth adjustment discussions with our prospects for value will increase associated to labor, logistics and utilities are progressing,” CEO Mikael Bratt stated. “Our actions initiated earlier within the 12 months are actually delivering outcomes, particularly our worth changes to compensate for the inflationary pressures and our value discount actions.”
He added that margin enchancment within the fourth quarter can be bolstered not solely by pricing actions however staffing reductions, cost-cutting actions, and seasonal impacts. Bratt additionally stated that his firm has reached agreements “in additional than 90% of the uncooked materials associated worth adjustment discussions” that it has opened throughout 2022.
Shares of Autoliv (ALV) rose 6.26% as of seven:40 AM ET on Friday.
Look into SeekingAlpha’s Quant rankings on the inventory.
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