Swedish company Autoliv announced on Friday that it has revised its year-end sales forecast upwards. The company stated that its second-quarter profit was in line with expectations and that it had recouped most of its tariff-related costs during that period.
The world’s largest manufacturer of airbags and seatbelts increased its adjusted operating profit to $251 million compared to the same period last year.
This figure is in line with analysts’ expectations and is a result of 3% organic sales growth.CEO Mikael Bratt said, “We recouped 80% of tariff-related costs in the second quarter and expect to recoup the remainder later in the year.”
Bratt added, “We remain confident that we can successfully continue to recover tariff compensation from our customers, but the industry outlook for tariffs is uncertain.”
Noting tariff compensation, Autoliv expects organic sales growth for this year to be around 3%. The previous estimate was at the 2% level, and this estimate was last repeated in April.
