Autoliv, Inc. ALV reported adjusted earnings of $1.30 per share in third-quarter 2019, missing the Zacks Consensus Estimate of $1.38. The bottom line also declined from the prior-year quarter figure of $1.35. High raw-material expenses and severe decline in global light vehicle production (LVP) dampened the company’s profitability during the reported quarter.The company reported net sales of $2.03 billion in the quarter, reflecting a 0.25% year-over-year decline. The figure also missed the Zacks Consensus Estimate of $2.1 billion.Operating income declined 5.7% year over year to $183 million. Adjusted operating margin from continuing operations was 9% in the quarter under review, lower than the prior-year quarter’s 9.5%.Autoliv, Inc. Price and Consensus Autoliv, Inc. price-consensus-chart | Autoliv, Inc. QuoteSegmental PerformanceSales in the Airbags and Associated Products segment edged down around 0.59% year over year to $1.35 billion. The company faced headwinds from most types of airbags in Europe, and inflators in North America and Japan, resulting in this decline. Nonetheless, solid performance of driver and knee airbags in North America, steering wheels in the Americas, and passenger airbags in China mainly stoked the segment’s growth in the third quarter.Sales in the Seatbelts and Associated Products segment totaled $678 million, up 0.3% from the prior-year quarter aided by the company’s stellar performance in China and Americas, partly offset by declines in Europe and India.Financial PositionAutoliv had cash and cash equivalents of $334.4 million as of Sep 30, 2019, lower than $533.7 million reported as of Sep 30, 2018. Long-term debt was $1.82 billion as of Sep 30, 2019, witnessing a decrease from $1.85 billion as of Jun 30, 2019. The debt-to-capital ratio stands at 59.36%.Net capital expenditure increased to $122.3 million from the year-ago figure of $117.4 million, due to continued investments in support of the high level of product launches.GuidanceFor 2019, Autoliv’s organic sales growth is projected at around 1%, down from the prior estimate of 1-3%. Consolidated sales growth is expected to be around negative 2%. Further, adjusted operating margin is projected at 9%, down from the 9-9.5% estimated earlier.Zacks Rank & Stocks to ConsiderAutoliv currently carries a Zacks Rank #3 (Hold).A few better-ranked stocks worth considering are BRP Inc. DOOO and Aaron's, Inc. AAN, both sporting a Zacks Rank #1 (Strong Buy), and Douglas Dynamics, Inc. PLOW carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.BRP has an expected earnings growth rate of 18.49% for 2019. The company’s shares have rallied 13.1% in the past year.Aaron's has an estimated earnings growth rate of 17.56% for the ongoing year. The company’s shares have surged roughly 73.1% in a year’s time.Douglas Dynamics has a projected earnings growth rate of 11.76% for the current year. Its shares have gained around 7.4% over the past year.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Autoliv, Inc. (ALV): Free Stock Analysis Report Douglas Dynamics, Inc. (PLOW): Free Stock Analysis Report Aaron's, Inc. (AAN): Free Stock Analysis Report BRP Inc. (DOOO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research