STOCKHOLM, Oct. 18, 2024 /PRNewswire/ — (NYSE: ALV) (SSE: ALIV.sdb) Q3 2024: Solid sales outperformance
Financial highlights Q3 2024
$2,555 million net sales
1.6% net sales decrease
0.8% organic sales decline*
8.9% operating margin
9.3% adjusted operating margin*
$1.74 diluted EPS, 11% increase
$1.84 adjusted diluted EPS*, 11% increase
Full year 2024 guidance
Around 1% organic sales growth
Around 1% negative FX effect on net sales
Around 9.5-10.0% adjusted operating margin
Around $1.1 billion operating cash flow
All change figures in this release compare to the same period of the previous year except when stated otherwise.
Key business developments in the third quarter of 2024
Third quarter sales decreased organically* by 0.8%, which was 4pp better than global LVP decline of 4.8% (S&P Global Oct 2024).
Stockholm-based company (NYSE: ALV) reported solid sales outperformance in the third quarter of 2024, despite a slight decrease in net sales. The company saw a decline in organic sales, but managed to achieve an impressive operating margin and increase in diluted EPS.
Looking ahead, the company expects around 1% organic sales growth for the full year 2024, with a slight negative FX effect on net sales. The adjusted operating margin is projected to be around 9.5-10.0%, with a significant operating cash flow of $1.1 billion.
How it will affect me
As a shareholder of (NYSE: ALV), the positive financial performance in Q3 2024 is likely to have a direct impact on your investment. The increase in diluted EPS and adjusted diluted EPS indicates a healthy growth trajectory for the company, which could result in higher returns for shareholders.
How it will affect the world
The solid sales outperformance of (NYSE: ALV) in Q3 2024 is a positive sign for the automotive industry as a whole. Despite the global decline in LVP, the company’s ability to outperform in sales shows resilience and adaptability in the face of challenges. This could have a ripple effect on other automotive companies, inspiring confidence and driving innovation in the industry.
Conclusion
In conclusion, (NYSE: ALV) has shown strong financial performance in the third quarter of 2024, with solid sales outperformance and promising guidance for the full year. The company’s ability to navigate market challenges and deliver growth bodes well for shareholders and the automotive industry as a whole.
