Meritor (MTOR) Reports In-Line Q2 EPS, Beat on Revenue; FY17 Guidance Revised

Meritor (NYSE: MTOR) reported Q2 EPS of $0.35, in-line with the analyst estimate of $0.35. Revenue for the quarter came in at $806 million versus the consensus estimate of $783.64 million.

GUIDANCE:

Meritor sees FY2017 EPS of $1.40, versus the consensus of $1.41. Meritor sees FY2017 revenue of $3.1 million, versus the consensus of $3.07 million.

Outlook for Fiscal Year 2017

The company's guidance for fiscal year 2017 has been revised from the prior quarter as follows:

• Revenue to be approximately $3.1 billion
• Net income attributable to the company and net income from continuing operations attributable to the company to be approximately $90 million (diluted earnings per share of approximately $1.00)
• Adjusted EBITDA margin to be approximately 10.0 percent
• Adjusted diluted earnings per share from continuing operations to be approximately $1.40
• Operating cash flow to be in the range of $140 million to $160 million
• Free cash flow to be in the range of $50 million to $70 million

Second-Quarter Highlights

• Sales of $806 million
• Net income attributable to the company and net income from continuing operations attributable to the company of $22 million
• Diluted earnings per share from continuing operations of $0.24
• Adjusted income from continuing operations attributable to the company of $32 million, or $0.35 of Adjusted diluted earnings per share
• Adjusted EBITDA of $82 million and Adjusted EBITDA margin of 10.2 percent

For earnings history and earnings-related data on Meritor (MTOR) click here.

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