TRW Automotive Holdings Corp. has announced that it will launch a number of safety features on the new Qoros 3 Sedan.
Headquartered in China, Qoros has an exceptional position in the automobile market. It is the first international brand headquarter in China to be honored with the Euro NCAP rating.
TRW Automotive in a partnership with Qoros developed the first series production car. It helped to develop the full passive safety system, supplying airbags, seat belts, steering wheel and safety electronics. In addition, it assisted in the development of electronic stability control, anti-lock braking and foundation brake systems.
This is sync with TRW Automotive’s commitment to help automakers in manufacturing safer vehicles. The production car received top Euro NCAP scores.
TRW is globally recognized as one of the largest and most diversified suppliers of automotive systems, modules and components to OEMs and the related aftermarket. The company commands about one-fifth of the world market for airbags, seatbelts and related electronics.
In the second quarter of 2013, TRW Automotive’s earnings increased 17.4% to $2.02 per share from $1.72 (excluding special items) a year ago and exceeded the Zacks Consensus Estimate of $1.70. Net earnings (excluding special items) went up 14.0% to $252 million from $221 million in the second quarter of 2012.
The solid performance by TRW in second quarter 2013, strong cash flow and expectation of better performance in the future prompted Standard & Poor’s (S&P) Ratings Services to raise the company’s credit rating to ‘BBB-’ from ‘BB+’ in Sep 2013.
For full-year 2013, TRW anticipates production of 16.1 million units in North America and 18.6 million units in Europe. Based on these production levels, the company’s first half performance and expectations for foreign currency exchange rates, revenues for the year are expected in the range of $16.8 billion to $17.0 billion, with $4.1 billion expected in the third quarter.
TRW Automotive currently retains a Zacks Rank #2 (Buy). Some other stocks worth considering in the original auto and truck business are Denso Corp. (DNZOY - Free Report) , Lear Corp. (LEA - Free Report) and Magna International Inc. (MGA - Free Report) . All these carry a Zacks Rank #1 (Strong Buy).