Report
Richard Hilgert
EUR 101.80 For Business Accounts Only

Autoliv Posts Record 2017 Revenue, 2018 Guidance Surprises; $100 Fair Value Estimate Unchanged

Narrow-moat rated Autoliv, a leading supplier of passive safety systems (airbags, seatbelts) as well as advanced driver assist systems (autonomy) to the global automotive industry, reported 2017 earnings per share before special items of $6.58, $0.40 higher than the sell-side consensus but $0.17 lower than 2016. Record revenue of $10.4 billion represented a 3.1% increase compared with 2016. Excluding favorable currency translation, revenue would have increased 1.5%. Even so, adjusted EBIT modest...
Underlying
Autoliv Inc.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Richard Hilgert

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