Financial PerformanceALV reported challenging 2Q24 results, with organic sales growth of only 0.7% and moderate margin expansion, leading to an adjusted EBIT 17% below analyst estimates.
Market And Regional ChallengesALV underperformed in the Americas and China, mainly due to lower light vehicle production with certain key customers, highlighting regional market challenges.
Revenue And GuidanceThe company missed revenue expectations with a shortfall of around 5%, driven by a sharply negative June as key customers de-stocked, leading to a lowered full-year guidance for 2024.