Reports Q1 revenue $2.49B, consensus $2.31B. Mikael Bratt, president and CEO said, "I am pleased with our strong sales growth, supported by product launches and price increases, and that we outperformed LVP in all regions significantly. The operating margin impact of the strong sales growth was lower than it should be in the quarter. This is because new product launches normally have lower operating leverage initially. As production ramps up and stabilizes, operating leverage is expected to improve. Together with our actions for cost reductions and price adjustments, this will give the significant full year profit improvement that we expect."
Published first on TheFly
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