TRW Automotive Rises as Profit Tops Estimates on Car Output: Detroit Mover
TRW Automotive Holdings Corp. (TRW), the world’s biggest vehicle-safety equipment supplier, rose the most in more than two years after topping analysts’ profit estimates, boosted by increased auto production in North America and demand for its safety products.
TRW climbed as much 14 percent, the biggest intraday gain since November 2009. The shares rose to $47.25 at 10:36 a.m. New York time. Before today, TRW had risen 27 percent this year after sliding 38 percent in 2011.
Fourth-quarter profit rose to $425 million, or $3.27 a share, from $204 million, or $1.56, Livonia, Michigan-based TRW said today in a statement. Excluding some items, profit was $1.84 a share. The average of seven analysts’ estimates in a Bloomberg survey was for a profit of $1.55.
Sales in the quarter increased 7.4 percent to $3.99 billion, compared with $3.96 billion, the average of six estimates in a Bloomberg survey.
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