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Autoliv's $42 million rise in material costs takes attention away from good sales in India.

ResultsRead the original at Benzinga
Bad for ALV

Autoliv missed profit and sales estimates, and raw-material costs cut quarterly profit by about $42 million. India sales grew nearly 30% and a strong fourth quarter is expected, but its full-year profit-margin forecast moved to the bottom of the old range.

ALV · Autoliv Inc.

AI read · Bad for ALV

The AI's read

Rising costs are taking a direct bite out of Autoliv's profit. The company did better than falling vehicle production, and sales in India grew nearly 30%. But sales fell in several other regions, and its full-year profit-margin forecast is now at the bottom of its prior range. A stronger fourth quarter is expected, but those gains have not happened yet.

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