Why Investors Slammed the Brakes on Autoliv on Friday
Autoliv (NYSE: ALV) was far from the most attractive auto industry stock on Friday. The specialty auto parts supplier's shares were down by almost 7% in late afternoon trading, following the release of its latest set of quarterly figures.
For its inaugural quarter of 2022, Autoliv -- which reports in U.S. dollars despite being based in Sweden -- earned $2.12 billion in net sales. That was more than 5% below the same period last year. Net income saw a much steeper fall, plummeting by nearly 50% to $83 million, or $0.94 per share. On a non-GAAP (adjusted) basis, the latter figure was $0.45.
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Source Fool.com
