Automotive components provider Autoliv (NYSE:ALV) has delivered a fourth-quarter earnings beat and shares of the company are gaining in the pre-market session today. Revenue rose 9.9% year-over-year to $2.33 billion but missed expectations by $90 million.
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EPS at $1.87 though comfortably cruised past expectations by $0.17. Impressively, the company witnessed 18% organic sales growth and a 38% rise in its bottom line during this period on the back of price increases and the launch of new products.
Looking ahead, for 2023, the company expects a 15% organic sales growth and an overall increase in product launches. Operating cash flow is seen landing at $900 million.
Overall, Wall Street has a consensus price target of $90.60 on ALV, implying a 6.68% potential upside in the stock. That’s on top of the 9.5% gains the stock has delivered so far this month.
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