Federal-Mogull (FDML) Misses Q3 EPS by 13c

Federal-Mogull (NASDAQ: FDML) reported Q3 EPS of $0.13, $0.13 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $1.87 billion versus the consensus estimate of $1.82 billion.

Federal-Mogul on September 3, 2014 announced its plan to separate its Powertrain and Motorparts divisions into two independent, publicly traded companies by spinning off the Motorparts division to current shareholders. The spin-off will provide additional operating and financial flexibility for each division to aggressively grow and improve its distinct business while preserving commercial benefits of continued collaboration in certain areas.

Completion of the transaction is subject to various approvals and conditions. While no assurances can be given regarding the ultimate timing of the separation or that it will be consummated, the company's objective is to complete the spin-off of Federal-Mogul Motorparts in the first half of 2015.

For earnings history and earnings-related data on Federal-Mogull (FDML) click here.

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