These Analysts Slash Their Forecasts On Autoliv After Weak Q2 Results

Core Insights - Autoliv, Inc reported worse-than-expected second-quarter financial results, with a sales decline of 1.1% year-on-year to $2.605 billion, missing the analyst consensus estimate of$2.74 billion [1] - Adjusted EPS of $1.87 also fell short of the analyst consensus estimate of$2.23 [1] - The company lowered its FY24 organic sales growth outlook from 5% to around 2% and adjusted operating margin guidance from 10.5% to around 9.5% - 10% [2] Financial Performance - Second-quarter FY24 sales were $2.605 billion, a decline of 1.1$1.87, missing the expected $2.23 [1] - Operating cash flow is expected to be$1.1 billion [2] Market Reaction - Autoliv shares fell by 10.1%, closing at $97.66 following the announcement [2] - Analysts adjusted their price targets, with Baird maintaining a Neutral rating and lowering the target from$128 to $111, while B of A Securities maintained a Buy rating and reduced the target from$145 to $133 [2] Management Commentary - The President and CEO, Mikael Bratt, stated that the company remains on track with strategic initiatives but faced lower-than-expected light vehicle production due to weaker sales and inventory adjustments, particularly in June [1]