TRW Automotive Holdings Corp., the world’s biggest vehicle-safety equipment supplier, rose the most in 2 1/2 years after topping analysts’ profit estimates, boosted by increased auto production in North America and demand for its safety products.
The shares climbed 14 percent to $47.43 at the close in New York, for the biggest daily gain since Aug. 4, 2009. TRW has risen 45 percent this year after sliding 38 percent in 2011.
Fourth-quarter net income doubled to $425 million, or $3.27 a share, from $204 million, or $1.56, a year earlier, Livonia, Michigan-based TRW said today in a statement. Excluding some items, profit was $1.84 a share, compared with the $1.55 average of seven analysts’ estimates in a Bloomberg survey.
Sales in the quarter increased 7.4 percent to $3.99 billion, from $3.96 billion, the average of six estimates.