Autoliv sees FY14 sales growth of 7%, consensus $9.34B FY14 organic sales growth of more than 6%, operating margin 9%; Sees FY14 effective tax rate of approximately 29%. Operational cash flow is expected to remain strong and to be at least $700 million excluding any discrete items. Capital expenditures are expected to increase in support of our growth strategy and to be in the previously communicated range of 4.5% to 5.0% of sales.
Autoliv reports Q3 revenue $2.21B, consensus $2.26B Quarterly organic sales grew by close to 5%. The adjusted operating margin was 8.5%. The lower than expected organic sales growth was primarily due to unfavorable vehicle mix in China, but also due to lower overall production in the Chinese market. Reports operating cash flow for a third quarter of $212M.