Veoneer Inc

NYSE:VNE  
23.34
+0.23 (+1.00%)
4:00:00 PM EDT: $23.31 -0.03 (-0.13%)
Other Pre-Announcement

Veoneer Q1 Operating Loss At $104 Mln, Below Expectations Of Loss $80 Mln

Published: 04/28/2021 10:13 GMT
Veoneer Inc (VNE) - Financial Report January - March 2021.
Outlook - FY'21 (unchanged From Q4, 2020 Report).
Q1 Net Sales $419 Million Versus $412 Million Seen in Company Consensus.
While Global Lvp Growth Was Only Slightly Lower Than Ihs January Forecast, Regional Mix Shifted Significantly.
Q1 Operating Loss $104 Million Versus Loss $80 Million Seen in Company Consensus.
We Anticipate That Disruptions Will Continue During Q2 and Then Gradually Decrease.
Foresee Positive Effects on Our Operating Leverage From Our Sales Growth Mainly Taking Effect in Second Half of Year.
Q1 Operating Margin -24.9% Versus -19.5% Seen in Company Consensus.
On Track to Increase Order Intake Compared to 2020, With Main Expected Order Awards Scheduled for Second Half of Year.
Disruptions From Semiconductor Shortages, and Our Continued Build Up for Growth, Added Extra Costs.
Efficiencies Gained Through Our On-going Market Adjustment Initiatives.
Q1 - Operating Loss for the Quarter of $104 Million Decreased by $18 Million As Compared to 2020.
For 2021 and the Upcoming Years, the Most Important Driver for Veoneer’s Business is New Customer and Technology Launches, Which Should Drive Significant Out-performance As Compared to the Global Lvp.