Autoliv Inc. said its first-quarter normalized net income amounted to 70 cents per share, compared with the S&P Capital IQ consensus estimate of $1.31 per share.
EPS decreased 42.4% year over year from $1.21.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $61.9 million, a decline of 45.9% from $114.4 million in the year-earlier period.
The normalized profit margin dropped to 2.8% from 5.0% in the year-earlier period.
Total revenue declined 5.3% year over year to $2.17 billion from $2.30 billion, and total operating expenses decreased on an annual basis to $2.06 billion from $2.10 billion.
Reported net income declined 72.8% from the prior-year period to $35.4 million, or 40 cents per share, from $130.1 million, or $1.38 per share.
