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:

Pin It

Comments

Recommended

It’s quite safe to say that this generation marks the rise of the electric cars. For the past few years, automakers have been very busy trying to find the perfect...
by - March 28, 2017
Want to go for a sportier look, but don’t have enough cash to burn? Good news for future Ford Edge buyers, as the 2018 model year will have an optional...
by - March 28, 2017
Audi refreshes its portfolio as its go-faster division officially announces the release of six new RS models by the end of 2018. That’s quite a huge number of cars to...
by - March 28, 2017
Has Toyota started the production of a new electric supercharger? Well, a patent that was recently published indicated that they might have. And this electric supercharger looks more durable and...
by - March 27, 2017
The Tesla Model S has finally arrived in South Korean soil and is now available for test drive. But, there’s a catch. You’ll have to wait several months if you...
by - March 27, 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