Forvia raises FY sales and operating margin targets

Forvia raised its annual sales and margin forecasts, saying it expected global automotive production to grow faster than previously anticipated.

The supplier sees 2023 sales of 26.5-27.5 billion euros ($29.4-30.5 billion), up from the previous outlook of 25.2-26.2 billion euros, and an operating margin of between 5.2 percent and 6.2 percent of sales, versus 5 percent to 6 percent before.

A trader said the guidance upgrade was “not very impressive” in light of the higher…