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Autoliv Q2 profit climbs 64.3% YOY

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Autoliv Q2 profit climbs 64.3% YOY

Autoliv Inc. said its second-quarter normalized net income came to $1.42 per share, compared with the S&P Capital IQ consensus estimate of $1.56 per share.

EPS rose 73.9% year over year from 82 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $125.5 million, a gain of 64.3% from $76.4 million in the year-earlier period.

The normalized profit margin increased to 5.5% from 3.2% in the year-earlier period.

Total revenue decreased on an annual basis to $2.29 billion from $2.38 billion, and total operating expenses decreased 7.5% on an annual basis to $2.08 billion from $2.24 billion.

Reported net income grew 64.5% from the prior-year period to $136.9 million, or $1.55 per share, from $83.2 million, or 89 cents per share.