TRW’s quarterly profit more than tripled to $199 million

Article by Christian A., on November 4, 2010

As carmakers raised their production to cope with demand, TRW Automotive Holdings Corp.’s quarterly profit more than tripled. TRW raised its full-year sales forecast and said that the recovery observed in the overall auto industry will be able to support a strong year for the company.

In the third quarter, net income increased to $199 million, or $1.54 per share, from $56 million, or 50 cents per share, a year ago.

Excluding one-time items, TRW posted earnings of $1.47 per share. Thomson Reuters I/B/E/S said that on this basis, analysts on average had anticipated 78 cents. Revenue had climbed by 10% to $3.4 billion, higher than the $3.15 billion that analysts predicted.

TRW said that its results were supported by the boost in vehicle production and the past years’ restructuring that had cut costs. He also said that results were also affected by negative currency movements and a modest increase in raw materials prices.

JPMorgan analyst Himanshu Patel said in a note that the quarterly performance was solid even after accounting for a tax rate that was lower than expected and some potentially nonrecurring benefits.

TRW’s sales forecast for the entire year was raised to $14.1 billion from what it disclosed in its second-quarter earnings release of a range of $13.2 billion to $13.6 billion. The 2010 forecast has taken into account its fourth quarter sales expectations of about $3.4 billion. TRW manufactures auto safety equipment such as airbags and electronic stability controls systems. [via autonews - sub. required]

Topics: trw, profit

If you liked the article, share on:

Comments

Recommended

The upscale version of the GMC Yukon body-on-frame sport utility vehicle – the GMC Yukon Denali – has been refreshed for the 2018 model year. It now sports a new...
by - May 26, 2017
The largest gathering of Volkswagen and Audi cars in Europe is underway, and the German premium carmaker is displaying the third model of its G-Tron range at the 2017 Worthersee...
by - May 26, 2017
Have you been wondering how much you have to produce to acquire a 2018 Mercedes-Benz S-Class Facelift? Wonder no more, as Mercedes-Benz has already divulged the pricing – at least...
by - May 26, 2017
Following the M3’s new facelift earlier this year, BMW is once again bringing something fresh to the table. In its newest offering, a cheaper version of the high performance sedan...
by - May 26, 2017
If this design study leads to the eventual and much-awaited BMW 8 Series grand tourer, then we wouldn’t complain. After all, it looks so promising. It isn’t the final version...
by - May 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries