Meritor (MTOR) Tops Q1 EPS by 18c, Revenues Beat; Offers FY19 EPS/Revenue Outlook Above Consensus

Meritor (NYSE: MTOR) reported Q1 EPS of $0.79, $0.18 better than the analyst estimate of $0.61. Revenue for the quarter came in at $1.04 billion versus the consensus estimate of $967.48 million.

• Sales of $1,038 million
• Net income attributable to the company and net income from continuing operations attributable to the company of $90 million
• Diluted earnings per share from continuing operations of $1.03
• Adjusted income from continuing operations attributable to the company of $69 million, or $0.79 per adjusted diluted share
• Adjusted EBITDA of $119 million and adjusted EBITDA margin of 11.5 percent
• Repurchased 3 million common shares

"Overall, this was an excellent quarter for Meritor," said Jay Craig, CEO and president. "Fiscal year 2019 has started strong and we are raising our outlook to reflect the financial results we now expect this year."

GUIDANCE:

Meritor sees FY2019 EPS of $3.30, versus the consensus of $3.19. Meritor sees FY2019 revenue of $4.3 billion, versus the consensus of $4.29 billion.

• Revenue to be approximately $4.3 billion.
• Net income attributable to the company and net income from continuing operations attributable to the company to be approximately $265 million (diluted earnings per share of approximately $3.10).
• Adjusted diluted earnings per share from continuing operations to be approximately $3.30.
• Adjusted EBITDA margin to be approximately 11.5 percent.
• Operating cash flow to be in the range of $290 million to $300 million.
• Free cash flow to be in the range of $175 million to $185 million.

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

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