Autoliv (NYSE:ALV) shares are trending nearly 4% higher today after the automotive component provider announced its results for the fourth quarter. With an impressive 18% year-over-year growth, revenue of $2.75 billion aligned with expectations. Further, EPS of $3.74 outpaced estimates by $0.37.
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During the quarter, organic sales increased by 16%. Moreover, the company’s adjusted EPS zoomed higher by 105%. This growth was accompanied by a nearly 210 basis point expansion in the company’s adjusted operating margin. For the full year, its operating cash flow jumped by 38% to $982 million.
Following a challenging Q1 2023, ALV has experienced steady improvement in customer recoveries, efficiencies, and organic growth. For Fiscal Year 2024, the company expects an adjusted operating margin of 10.5% and organic sales growth of about 5%. Operating cash flow for the year is anticipated at $1.2 billion.
Is ALV a Good Buy?
Today’s price gains further add to the nearly 24% jump in the company’s share price over the past year. Overall, the Street has a Moderate Buy consensus rating on Autoliv, and the average ALV price target of $112.53 points to a modest 8.6% potential upside in the stock.
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