Stock Monitor: Sypris Solutions Post Earnings Reporting
LONDON, UK / ACCESSWIRE / November 30, 2017 / Active-Investors free earnings report on Autoliv, Inc. (NYSE: ALV) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=ALV. The Company posted its financial results on October 26, 2017, for the third quarter of the fiscal year 2017. The automotive safety supplier Company's revenue increased 1.6% on a y-o-y basis. Register today and get free access to our complimentary member's area where many more reports are available:
Active-Investors.com is currently working on the research report for Sypris Solutions, Inc. (NASDAQ: SYPR), which also belongs to the Consumer Goods sector as the Company Autoliv. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Autoliv most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
Earnings Highlights and Summary
For the three months ended September 30, 2017, Autoliv's total net revenue increased 1.6% to $2.50 billion from $2.46 billion in Q3 FY16. The total net revenue figures surpassed analysts' expectations of $2.49 billion.
During Q3 FY17, Autoliv's gross profit increased 1.8% to $504.3 million from $495.3 million in the same period of last year. For the reported quarter, the Company's gross margin increased 10 basis points to 20.2% of revenue from 20.1% of revenue in Q3 FY16.
For the reported quarter, Autoliv's selling, general, and administrative expenses (SG&A) increased 2.2% to $119.1 million from $116.5 million in Q3 FY16. During Q3 FY17, the Company's research, development, and engineering expenses increased 10.3% to $182.5 million from $165.5 million in the comparable period of last year.
During Q3 FY17, Autoliv's operating income decreased 17% to $158.7 million from $191.1 million in the corresponding period of last year. During Q3 FY17, the Company's operating margin decreased 150 basis points to 6.3% of revenue from 7.8% of revenue in the same period of last year.
During Q3 FY17, Autoliv's adjusted operating income decreased 1.6% to $196.3 million from $199.4 million in the comparable period of last year. For the reported quarter, the Company's adjusted operating margin decreased 20 basis points to 7.9% of revenue from 8.1% of revenue in Q3 FY16.
For the reported quarter, Autoliv's net income decreased 34.9% to $88.2 million from $135.5 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) decreased 33.3% to $1.04 from $1.56 in the corresponding period of last year.
During Q3 FY17, Autoliv's adjusted net income decreased 11.5% to $125.2 million on a y-o-y basis from $141.5 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS decreased 9.8% to $1.47 from $1.63 in the same period of last year. The adjusted diluted EPS surpassed analysts' expectations of $1.33.
Passive Safety - During Q3 FY17, Autoliv's Passive Safety segment's revenue increased 2.8%, or 1.3% on an organic basis, to $1.95 billion from $1.90 billion in the comparable period of last year. For the reported quarter, the segment's operating income decreased 15.3% to $161.7 million from $190.8 million in Q3 FY16, due to an increased net impact from capacity alignments and antitrust related matters.
Electronics - During Q3 FY17, Autoliv's Electronics segment's revenue decreased 1.8%, or 1.9% on an organic basis, to $566.9 million from $577.4 million in the corresponding period of last year. For the reported quarter, the segment's operating income increased 68% to $8.4 million from $5.0 million in Q3 FY16, primarily due to an improved gross margin.
As on September 30, 2017, Autoliv's cash and cash equivalents decreased 21.9% to $958.3 million from $1.23 billion as on December 31, 2016. For the reported quarter, the Company's long-term debt was at par with the $1.32 billion reported in Q4 FY16.
For the reported quarter, the Company's net receivables increased 6.1% to $2.08 billion from $1.96 billion in the fourth quarter of 2016. For the reported quarter, the Company's payables and accrued liabilities decreased 3.9% to $1.15 billion from $1.20 billion in Q4 FY16.
During Q3 FY17, the Company's cash provided by operating activities decreased 19.6% to $217.9 million from $271.1 million in the same period of last year.
For the reported quarter, Autoliv's return on capital employed ratio was 12.6% compared to 17.4% in Q3 FY16. The decrease was primarily related to the lower net income.
Stock Performance Snapshot
November 29, 2017 - At Wednesday's closing bell, Autoliv's stock slightly fell 0.19%, ending the trading session at $126.82.
Volume traded for the day: 230.35 thousand shares.
Stock performance in the last month – up 3.10%; previous three-month period – up 17.62%; past twelve-month period – up 22.02%; and year-to-date – up 12.08%
After yesterday's close, Autoliv's market cap was at $11.02 billion.
Price to Earnings (P/E) ratio was at 21.85.
The stock has a dividend yield of 1.89%.
The stock is part of the Consumer Goods sector, categorized under the Auto Parts industry.
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