Autoliv Raises Guidance as First Quarter Beats Expectations
- Sales of replacement air-bag inflators higher than expected
- Shares gain as much as 8.3 percent, most in three years
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Autoliv AB gained the most in three years after the world’s largest supplier of automotive-safety parts raised its full-year sales guidance as demand for air-bag inflators exceeded its expectations in the wake of Takata Corp.’s troubles.
Revenue increased 12 percent to $2.43 billion, the company said in a statement. That beat the $2.35 billion average of six analyst estimates compiled by Bloomberg. Autoliv now expects organic sales growth of more than 7 percent this year, up from a previous forecast of 5 percent.