New Program Awards and Charging Forward Highlights:
Third Quarter Highlights:
Financial Results:
Full Year 2021 Guidance:
For the full-year 2021, net sales are expected to be in the range of $14.4 billion to $14.7 billion, under the assumption that the semiconductor supply issues do not worsen and there are no additional production disruptions arising from COVID-19. This implies a year-over-year increase in organic sales of 8.5% to 11%. The Company expects its weighted light and commercial vehicle markets to be in the range of down approximately 2.5% to flat in 2021. The acquisition of AKASOL is expected to increase year-over-year sales by approximately $70 million. Foreign currencies are expected to result in a year-over-year increase in sales of approximately $425 million primarily due to the strengthening of the Euro, Chinese Renminbi and Korean Won against the U.S. dollar.
Operating margin for the full year is expected to be in the range of 7.9% to 8.7%. Excluding the impact of non-comparable items, adjusted operating margin is expected to be in the range of 9.6% to 10.0%. Net earnings for the full year are expected to be within a range of $2.07 to $2.55 per diluted share. Excluding the impact of non-comparable items, adjusted net earnings are expected to be within a range of $3.65 to $3.95 per diluted share. Full-year operating cash flow is expected to be in the range of $1,275 million to $1,400 million, while free cash flow is expected to be in the range of $600 million to $700 million.