ALV 8-K

Autoliv Inc (ALV)

8-K 2026-04-17 For: 2026-04-17

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Added on April 17, 2026

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Delaware	001-12933	Not applicable
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Klarabergsviadukten 70, Section D 5th Floor, Box 70381,
Stockholm, Sweden		SE-107 24
(Address of Principal Executive Offices)		(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock (par value $1.00 per share)	ALV	New York Stock Exchange


99.1		Press Release of Autoliv, Inc. dated April 17, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).


Exhibit No.		Description

99.1		Press Release of Autoliv, Inc. dated April 17, 2026.

104		Cover Page Interactive Data File (embedded within the Inline XBRL document).


	AUTOLIV, INC

	By:		/s/ Anthony J. Nellis
	Name:		Anthony J. Nellis
	Title:		Executive Vice President, Legal Affairs and General Counsel

ALV 8-K

FORM 8-K

Item 2.02 Results of Operations and Financial Condition.

Item 7.01 Regulation FD Disclosure.

Item 9.01 Financial Statements and Exhibits.

Key business developments in the first quarter of 2026

Key definitions ------------------------------------------------------------------------------------------------------------

Adj. operating income and margin*: Operating income adjusted for capacity alignments, antitrust related matters and for FY 2023 the Andrews litigation settlement. Capacity alignments include non-recurring costs related to our structural efficiency and business cycle management programs.

Capex, net: Capital Expenditure, net, defined as Expenditures for Property, Plant and Equipment less Proceeds from sale of Property, Plant and Equipment.

Cash conversion: Free operating cash flow in relation to net income. Free operating cash flow defined as operating cash flow less capital expenditure, net.

Consolidated sales development

First quarter 2026


(Dollars in millions, except per share data)	Q1 2026	Q1 2025	Change
Net sales	$2,753	$2,578	6.8%
Operating income	237	254	(6.7)%
Adjusted operating income1)	245	255	(3.9)%
Operating margin	8.6%	9.9%	(1.2)pp
Adjusted operating margin1)	8.9%	9.9%	(1.0)pp
Earnings per share - diluted	1.88	2.14	(12)%
Adjusted earnings per share - diluted1)	2.05	2.15	(4.7)%
Operating cash flow	(76)	77	n/a
Return on capital employed2)	22.2%	25.6%	(3.3)pp
Adjusted return on capital employed1,2)	22.9%	25.6%	(2.7)pp
Dividends paid	(65)	(54)	20%
Share repurchases	-	(50)	(100)%
1) Excluding effects from capacity alignments and antitrust related matters. Non-GAAP measure, see reconciliation table. 2) Annualized operating income and income from equity method investments, relative to average capital employed.


Comments from Mikael Bratt, President & CEO
	The first quarter turned out better than we had anticipated, with strong sales in March. Our operational performance exceeded our expectations, with solid productivity improvements, partly supported by reduced call-off volatility. Underlying profitability improved, with gross profit increasing by 10%, although adjusted operating income was slightly lower due to temporary lower	I am pleased that we in the quarter introduced our first airbag for motorcycles, as well as our first wearable airbag solution for motorcycle riders, building on our long term strategy of growing business outside our traditional core business. The quarter was characterized by ongoing and new geopolitical challenges. At this point, it is difficult to fully assess the likely impacts, as the situation remains fluid. We continue to carefully monitor the developments while preparing for various scenarios, including different mitigation strategies. The business environment is uncertain but our current best estimate for the remainder of the year is a re-iteration of our full year 2026 guidance of about unchanged organic sales and an adjusted operating margin of around 10.5-11%. This is based on the assumption that LVP will decline by around 1%. Our balance sheet is healthy, with debt leverage of 1.3x, well below our target limit of 1.5x. Based on our guidance for sales and adjusted operating margin, we continue to expect strong cash flow for the year, which supports our ambitions to provide attractive shareholder returns, including to repurchase shares of $300-500 million in 2026.
R,D&E reimbursements and the one-time income in Q1 last year. Our positive trend in Asia continued, with strong growth in India, South Korea and China. In China, we continued to grow faster than LVP, especially with the Chinese OEMs, outperforming by 40pp. In India, we grew sales organically by 38%, reflecting mainly the trend of increased safety content in vehicles in India, as well as the continued high level of LVP growth. We continue to expand our production capabilities in India, investing in additional inflator production capacity for future growth.


Full year 2026 Guidance
Organic sales growth	Around 0%
Adjusted operating margin1)	Around 10.5-11%
Operating cash flow2)	Around $1.2 billion
Capex, net, % of sales	Less than 5%
1) Excluding effects from capacity alignments, antitrust related matters and other discrete items. 2) Excluding unusual items.


Full year 2026 Assumptions
LVP growth	Around 1% negative
FX impact on net sales	Around 3% positive
Tax rate3)	Around 28%
3) Excluding unusual tax items.


Sales Development by region	Operating and adjusted* operating income and margins


Consolidated sales	First quarter		Reported change	Currency	Organic
(Dollars in millions)	2026	2025	(U.S. GAAP)	effects1)	change*
Airbags, Steering Wheels and Other2)	$1,863	$1,752	6.3%	5.6%	0.7%
Seatbelt Products and Other2)	890	826	7.8%	6.7%	1.1%
Total	$2,753	$2,578	6.8%	6.0%	0.8%

Americas	$863	$851	1.3%	6.5%	(5.2)%
EMEA	835	764	9.3%	11.1%	(1.8)%
Asia excl. China	563	515	9.3%	(1.8)%	11%
China	492	447	10%	5.1%	4.9%
Total	$2,753	$2,578	6.8%	6.0%	0.8%
1) Effects from currency translations. 2) Including Corporate sales.


Q1 2026 organic growth*	Americas	EMEA	Asia excl. China	China	Global
Autoliv	(5.2)%	(1.8)%	11.1%	4.9%	0.8%
Main growth drivers	Subaru, Stellantis	Renault, Volvo	Suzuki, Tata	Chery, EV COEM	Suzuki, Chery
Main decline drivers	Ford, GM	VW, Hyundai	Toyota, Subaru	VW, Honda	Ford, VW


Condensed Income Statement	First quarter
(Dollars in millions, except per share data)	2026	2025	Change
Net sales	$2,753	$2,578	6.8%
Cost of sales	(2,227)	(2,100)	6.0%
Gross profit	526	478	10%
S,G&A	(161)	(145)	11%
R,D&E, net	(120)	(95)	26%
Other income (expense), net	(9)	15	n/a
Operating income	237	254	(6.7)%
Adjusted operating income1)	245	255	(3.9)%
Financial and non-operating items, net	(35)	(22)	61%
Income before taxes	202	233	(13)%
Income taxes	(60)	(65)	(7.2)%
Net income	$142	$167	(15)%

Earnings per share - diluted2)	$1.88	$2.14	(12)%
Adjusted earnings per share - diluted1,2)	$2.05	$2.15	(4.7)%

Gross margin	19.1%	18.6%	0.6pp
S,G&A, in relation to sales	(5.8)%	(5.6)%	(0.2)pp
R,D&E, net in relation to sales	(4.3)%	(3.7)%	(0.7)pp
Operating margin	8.6%	9.9%	(1.2)pp
Adjusted operating margin1)	8.9%	9.9%	(1.0)pp
Tax Rate	29.9%	28.0%	1.9pp

Other data
No. of shares at period-end in millions2)	74.9	77.3	(3.2)%
Weighted average no. of shares in millions, basic2)	74.8	77.6	(3.7)%
Weighted average no. of shares in millions, diluted2)	75.1	77.9	(3.6)%
1) Non-GAAP measure, excluding effects from capacity alignments and antitrust related matters. See reconciliation table. 2) Net of treasury shares.


Selected Cash Flow items	First quarter
(Dollars in millions)	2026	2025	Change
Net income	$142	$167	(15)%
Depreciation and amortization	107	95	12%
Other non-cash adjustments, net	25	(6)	n/a
Changes in operating working capital	(349)	(179)	95%
Operating cash flow	(76)	77	n/a
Capital expenditure, net1)	(84)	(93)	(10)%
Free operating cash flow2)	$(159)	$(16)	901%
Cash conversion3)	n/a	n/a	n/a
Shareholder returns
- Dividends paid	(65)	(54)	20%
- Share repurchases	-	(50)	(100)%
Cash dividend paid per share	$(0.87)	$(0.70)	24%
Capital expenditures, net in relation to sales	3.0%	3.6%	(0.6)pp
1) Defined as Expenditures for property, plant and equipment less Proceeds from sale of property, plant and equipment. 2) Operating cash flow less Capital expenditure, net. Non-GAAP measure. See enclosed reconciliation table. 3) Free operating cash flow relative to Net income. Non-GAAP measure. See reconciliation table.


Selected Balance Sheet items	First quarter
(Dollars in millions)	2026	2025	Change
Trade working capital1)	$1,506	$1,279	18%
Trade working capital in relation to sales2)	13.7%	12.4%	1.3pp
- Receivables outstanding in relation to sales3)	22.0%	21.4%	0.6pp
- Inventory outstanding in relation to sales4)	8.6%	8.9%	(0.3)pp
- Payables outstanding in relation to sales5)	16.9%	17.8%	(0.9)pp
Cash & cash equivalents	342	322	6.0%
Gross Debt6)	2,091	2,105	(0.7)%
Net Debt7)	1,773	1,787	(0.8)%
Capital employed8)	4,417	4,149	6.5%
Return on capital employed9)	22.2%	25.6%	(3.3)pp
Total equity	2,644	2,361	12%
Return on total equity10)	21.7%	28.8%	(7.1)pp
Leverage ratio11)	1.3	1.3	(0.1)
1) Outstanding receivables and outstanding inventory less outstanding payables. Non-GAAP measure, see reconciliation table. 2) Outstanding receivables and outstanding inventory less outstanding payables relative to annualized quarterly sales. Non-GAAP measure, see reconciliation table. Annualized quarterly sales is calculated as the quarterly sales amount multiplied by four. 3) Outstanding receivables relative to annualized quarterly sales. 4) Outstanding inventory relative to annualized quarterly sales. 5) Outstanding payables relative to annualized quarterly sales. 6) Short- and long-term interest-bearing debt. 7) Short- and long-term debt less cash and cash equivalents and debt-related derivatives. Non-GAAP measure. See reconciliation table. 8) Total equity and net debt. 9) Annualized operating income and income from equity method investments, relative to average capital employed. See definitions of "Annualized operating income" in footnote to the reconciliation tables below. 10) Annualized net income relative to average total equity. See definitions of "Annualized net income" in footnote to the reconciliation tables below. 11) Net debt adjusted for pension liabilities in relation to EBITDA. Non-GAAP measure. See reconciliation table.


Q1 2026	Americas	EMEA	Asia excl. China	China	Global
LVP (Apr 2026)	(0.6)%	(0.8)%	4.3 %	(10.1)%	(3.4)%
LVP (Jan 2026)	(0.7)%	(1.1)%	1.6%	(10.4)%	(4.0)%


	Mar 31	Dec 31	Mar 31
	2026	2025	2025
Total headcount	64,100	64,300	65,900
Whereof: Direct headcount in manufacturing	46,700	47,300	48,800
Indirect headcount	17,400	17,000	17,100
Temporary personnel	10%	10%	10%


• On February 19, 2026, Autoliv announced that Mr. Martin Lundstedt, a current member of the Board of Directors, has elected not to stand for re-election. Mr. Lundstedt's service as a director will end at the 2026 Annual Stockholders Meeting. • On March 6, 2026, Autoliv announced that its Board of Directors appointed Monika Grama as the new Chief Financial Officer and Executive Vice President, Finance, of the Company. Ms. Grama succeeded Fredrik Westin as of April 1, 2026. Ms. Grama has served as the Vice President, Finance of the Autoliv Europe Middle East and Africa (EMEA) division since 2020. Monika Grama joined Autoliv in 2009 and, prior to her current role, she served as Finance Manager and Managing Director of Autoliv Romania, one of Autoliv's largest production hubs globally. Ms. Grama has played a vital role in contributing to the development of the Autoliv EMEA division during a challenging period for the automotive industry. • On March 6, 2026, Autoliv announced the renewal for one year of its €3 billion guaranteed euro medium term note program, originally established on April 11, 2019.		• On March 12, 2026, Autoliv announced it has together with Yamaha Motor Co. co-developed an innovative airbag system for the new Tricity commuter scooter. This is a significant step toward making advanced safety solutions accessible to a wider range of riders, moving beyond their previous availability solely on high-end motorcycles. The collaboration reflects Autoliv's continued expansion beyond its core business and supports the company's long-term strategic direction. • On March 24, 2026, Autoliv announced it has developed its first complete wearable protection for motorcycle riders: a vest with an integrated airbag system designed to reduce critical injury risks in the event of a crash. This system is being launched in collaboration with RS Taichi, a leading manufacturer of motorcycle riding gear, who will bring it to market. This initiative complements Autoliv's motorcycle and bike offer and supports its long-term strategy to explore opportunities beyond its core business of airbags, seatbelts and steering wheels for light vehicles. • The Board has set Thursday, May 7, 2026 as the date for the 2026 Annual Stockholders Meeting. The Board has decided that the meeting will be in-person only.


This report contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Autoliv, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and/or data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “estimates”, “expects”, “anticipates”, “projects”, “plans”, “intends”, “believes”, “may”, “likely”, “might”, “would”, “should”, “could”, or the negative of these terms and other comparable terminology, although not all forward-looking statements contain such words. Because these forward-looking statements involve risks and uncertainties, the outcome could differ materially from those set out in the forward-looking statements for a variety of reasons, including without limitation: general global and regional economic conditions, including the impact of inflation; changes in light vehicle production; fluctuation in vehicle production schedules for which the Company is a supplier; global supply chain disruptions, including port, transportation, and distribution delays or interruptions; supply chain disruptions, and component shortages specific to the automotive industry or the Company; potential changes to beneficial free trade agreements and regulations, such as the United States-Mexico-Canada Agreement; changes in geopolitical and other economic and political conditions or developments, including inflation, changes trade policies, tariff regimes, and other developments in and by countries in which we do business that could materially impact supply chains, margins, access to capital, or overall business performance; political stability or geopolitical conflicts; changes in general industry or market conditions, including regional economic growth or decline; changes in and the successful execution of our capacity alignment, restructuring, cost reduction, and efficiency initiatives and the market reaction thereto; loss of business from increased competition; volatility or increases in raw material, fuel, and energy costs; changes in consumer and customer preferences for end products; loss of customers or sales; legislative or regulatory changes; customer bankruptcies, consolidations or restructuring or divestiture of customer brands; unfavorable fluctuations in currencies or interest rates among the various jurisdictions in which we operate; market acceptance of our new products; costs or difficulties related to the integration of any new or acquired businesses and technologies; continued uncertainty in pricing and other negotiations with		customers, including inflation and tariff compensations; successful integration of acquisitions and operations of joint ventures; successful implementation of strategic partnerships and collaborations; our ability to be awarded new business; product liability, warranty and recall claims and investigations and other litigation, civil judgments or financial penalties and customer reactions thereto; higher expenses for our pension and other postretirement benefits, including higher funding needs for our pension plans; work stoppages or other labor issues; possible adverse results of pending or future litigation or infringement claims, and the availability of insurance with respect to such matters; our ability to protect our intellectual property rights; negative impacts of antitrust investigations or other governmental investigations and associated litigation relating to the conduct of our business; tax assessments or results of tax audits by governmental authorities and changes in our effective tax rate; dependence on key personnel; our ability to meet our sustainability targets, goals and commitments; dependence on and relationships with customers and suppliers; the conditions necessary to hit our financial targets; and other risks and uncertainties identified under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Reports and Quarterly Reports on Forms 10-K and 10-Q and any amendments thereto. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any forward-looking statements in light of new information or future events, except as required by law.


	First quarter		Latest 12	Full Year
(Dollars in millions, except per share data, unaudited)	2026	2025	months	2025
Airbags, Steering Wheels and Other1)	$1,863	$1,752	$7,413	$7,302
Seatbelt products and Other1)	890	826	3,577	3,513
Total net sales	2,753	2,578	10,990	10,815

Cost of sales	(2,227)	(2,100)	(8,868)	(8,741)
Gross profit	526	478	2,122	2,074

Selling, general & administrative expenses	(161)	(145)	(587)	(571)
Research, development & engineering expenses, net	(120)	(95)	(438)	(413)
Other income (expense), net	(9)	15	(26)	(2)
Operating income	237	254	1,071	1,088

Income from equity method investments	1	1	6	6
Interest income	3	2	10	10
Interest expense	(26)	(25)	(104)	(103)
Other non-operating items, net	(12)	0	(27)	(15)
Income before income taxes	202	233	956	986

Income taxes	(60)	(65)	(246)	(250)
Net income	142	167	710	736

Less: Net income attributable to non-controlling interest	0	0	1	1
Net income attributable to controlling interest	$141	$167	$709	$735

Earnings per share - diluted	$1.88	$2.14	$9.31	$9.55
1) Including Corporate sales.


	Mar 31	Dec 31	Sep 30	Jun 30	Mar 31
(Dollars in millions, unaudited)	2026	2025	2025	2025	2025
Assets
Cash & cash equivalents	$342	$604	$225	$237	$322
Receivables, net	2,422	2,236	2,357	2,341	2,205
Inventories, net	947	992	1,036	957	913
Prepaid expenses	206	212	226	249	184
Other current assets	71	57	102	146	75
Total current assets	3,987	4,101	3,946	3,929	3,699

Property, plant & equipment, net	2,356	2,417	2,402	2,399	2,286
Operating leases right-of-use assets	166	171	167	171	168
Goodwill and intangible assets, net	1,392	1,386	1,387	1,389	1,380
Investments and other non-current assets	567	568	561	588	581
Total assets	8,468	8,644	8,463	8,476	8,114

Liabilities and equity
Short-term debt	393	419	654	679	540
Accounts payable	1,862	2,007	1,889	1,945	1,839
Accrued liabilities	1,024	1,050	1,172	1,138	1,053
Operating lease liabilities - current	43	43	44	44	42
Other current liabilities	386	404	383	430	327
Total current liabilities	3,708	3,923	4,141	4,235	3,800

Long-term debt	1,699	1,734	1,374	1,372	1,565
Pension liability	176	169	167	167	163
Operating lease liabilities - non-current	117	122	118	121	120
Other non-current liabilities	125	113	105	102	103
Total non-current liabilities	2,115	2,138	1,763	1,762	1,952

Total parent shareholders’ equity	2,634	2,572	2,549	2,469	2,351
Non-controlling interest	10	10	10	11	10
Total equity	2,644	2,582	2,559	2,480	2,361

Total liabilities and equity	$8,468	$8,644	$8,463	$8,476	$8,114


(Dollars in millions)	2024	2023	2022	2021
Operating income (GAAP)	$979	$690	$659	$675
Non-GAAP adjustments:
Less: Capacity alignments1)	19	218	(61)	8
Less: The Andrews litigation settlement	-	8	-	-
Less: Antitrust related items	8	4	-	-
Total non-GAAP adjustments to operating income	27	230	(61)	8
Adjusted Operating income (Non-GAAP)	$1,007	$920	$598	$683
1) For 2022, including a gain on divestiture of property of $80 million.

ALV 8-K

FORM 8-K

Item 2.02 Results of Operations and Financial Condition.

Item 7.01 Regulation FD Disclosure.

Item 9.01 Financial Statements and Exhibits.

Key business developments in the first quarter of 2026

Key definitions ------------------------------------------------------------------------------------------------------------

Adj. operating income and margin*: Operating income adjusted for capacity alignments, antitrust related matters and for FY 2023 the Andrews litigation settlement. Capacity alignments include non-recurring costs related to our structural efficiency and business cycle management programs.

Capex, net: Capital Expenditure, net, defined as Expenditures for Property, Plant and Equipment less Proceeds from sale of Property, Plant and Equipment.

Cash conversion*: Free operating cash flow* in relation to net income. Free operating cash flow defined as operating cash flow less capital expenditure, net.

Consolidated sales development

First quarter 2026

Cash conversion: Free operating cash flow in relation to net income. Free operating cash flow defined as operating cash flow less capital expenditure, net.