Wabco Holdings (WBC) Tops Q4 EPS by 16c, Revenues Miss; Offers FY19 EPS/Revenue Guidance Below Consensus

Wabco Holdings (NYSE: WBC) reported Q4 EPS of $2.13, $0.16 better than the analyst estimate of $1.97. Revenue for the quarter came in at $911.6 million versus the consensus estimate of $962.1 million.

• Q4 2018 sales of $911.6 million, 2.4% lower versus a year ago, while up 1.4% in local currencies
• Full year 2018 sales of $3,831.0 million, up 15.9% from a year ago and up 13.9% in local currencies
• Q4 2018 reported operating margin of 12.3% versus 13.4% a year ago; performance operating margin of 13.8% versus 15.4% a year ago
• Full year 2018 reported operating margin of 13.4%, up from 13.2% a year ago; performance operating margin of 14.2% versus 14.9% a year ago
• Q4 2018 reported diluted EPS of $2.20 versus $3.12 a year ago; performance diluted EPS of $2.13, up from $2.00 a year ago
• Full year 2018 reported diluted EPS of $7.43 versus $7.50 a year ago; performance diluted EPS of $7.87, up from $6.86 a year ago
• For full year 2018, WABCO continued to strongly convert income into cash, resulting in net cash from operating activities of $468.5 million, up 11.2% from a year ago
• Provides guidance for full year 2019: sales growth to range from 1.5% to 6.5% in local currencies; reported diluted EPS guidance to range from $6.88 to $7.38 and performance diluted EPS to range from $7.60 to $8.10

“In Q4 2018, WABCO faced a slowdown in key global markets, notably in Europe as well as China and India, which was partially offset by growth in the Americas, Japan and Thailand,” said Jacques Esculier, WABCO Chairman and Chief Executive Officer.

“Navigating this environment, WABCO again demonstrated its resilience and proven ability to continue to outperform global truck and bus production,” said Esculier. “Further helped by a favorable tax resolution, WABCO also achieved record quarterly earnings per share on a performance basis.”

GUIDANCE:

Wabco Holdings sees FY2019 EPS of $7.60-$8.10, versus the consensus of $8.13. Wabco Holdings sees FY2019 revenue of $3.8-4 billion, versus the consensus of $4.03 billion.

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c
• CaliberCos Inc (CWD) Misses Q2 EPS by 43c; Offers Guidance