ALV Stronger Than Predicted

Autoliv reported stronger than expected second-quarter earnings per share of $1.48, besting the Street consensus by $0.10 and $0.09 higher than the year-ago $1.39 EPS. Owing to an anemic European new car market, analysts were also expecting Autoliv to report flattish earnings for the quarter. The company’s like-for-like European revenue increased by 4% compared with a 4% decline in new car registrations. Management also raised … Continue reading ALV Stronger Than Predicted

BMW Races Past Street Consensus, Confirms Full-Year Guidance; Maintaining Our EUR 85 FVE

Narrow-moat, negative-moat-trend rated Bayerische Motoren Werke AG BMW reported better than expected first-quarter 2013 earnings per share results of EUR 1.99. This was EUR 0.22 ahead of the Street consensus EPS estimate of EUR 1.77, but EUR 0.06 below last year’s EUR 2.05 result. Demonstrating the reason for our narrow-moat rating, despite the decline in European volume and the competitive pricing in the region, BMW … Continue reading BMW Races Past Street Consensus, Confirms Full-Year Guidance; Maintaining Our EUR 85 FVE