Wabco Holdings (WBC) Tops Q2 EPS by 7c; Raises Outlook

Wabco Holdings (NYSE: WBC) reported Q2 EPS of $1.61, $0.07 better than the analyst estimate of $1.54. Revenue for the quarter came in at $795 million versus the consensus estimate of $759.17 million.

GUIDANCE:

Wabco Holdings sees FY2017 EPS of $6.05-$6.35, versus the consensus of $5.99.

• Q2 2017 sales of $795.0 million, up 8.6 percent from a year ago and up 10.4 percent in local currencies
• Q2 2017 reported operating margin of 13.6 percent versus 14.2 percent a year ago; performance Q2 2017 operating margin of 14.7 percent versus 15.0 percent a year ago. Q2 2017 operating margin adversely affected by 0.5 percent of transactional foreign exchange impacts.
• In Q2 2017, WABCO continued to strongly convert income into cash, resulting in net cash from operating activities of $88.2 million
• Q2 2017 reported diluted EPS of $1.61, up from $1.33 a year ago; performance Q2 2017 diluted EPS of $1.69, up from $1.43 a year ago
• Raises sales guidance for full year 2017 to now range from $3,025 million to $3,100 million versus previous guidance from $2,850 million to $2,990 million; sales growth to now range from 8 to 11 percent in local currencies versus previous guidance from 4 to 9 percent
• Raises reported diluted EPS guidance for full year 2017 to now range from $5.74 to $6.04 versus previous guidance from $5.44 to $5.94; and performance full year 2017 diluted EPS to now range from $6.05 to $6.35 versus previous guidance from $5.55 to $6.05

For earnings history and earnings-related data on Wabco Holdings (WBC) click here.

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