UPDATE: Meritor (MTOR) Tops Q2 EPS by 10c, Beats on Revenues; Offers FY18 Revenue Guidance Above Consensus

Meritor (NYSE: MTOR) reported Q2 EPS of $0.75, $0.10 better than the analyst estimate of $0.65. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $981.72 million.

Second-Quarter Highlights

• Sales of $1,066 million
• Net income attributable to the company and net income from continuing operations attributable to the company of $57 million, or $0.63 per diluted share
• Adjusted income from continuing operations attributable to the company of $68 million, or $0.75 per adjusted diluted share
• Adjusted EBITDA of $122 million and adjusted EBITDA margin of 11.4 percent

Outlook for Fiscal Year 2018

The company\'s guidance for fiscal year 2018 has been revised from the prior quarter as follows:

Revenue to be in the range of $4.0 billion to $4.1 billion.
Net income attributable to the company to be in the range of $130 million to $145 million.
Adjusted EBITDA margin to be approximately 11.2 percent.
Adjusted diluted earnings per share from continuing operations to be in the range of $2.70 to $2.85.
Operating cash flow to be in the range of $220 million to $235 million.
Free cash flow to be in the range of $120 million to $135 million.

"With the revenue tailwinds we expect to continue in the second half, in addition to new business and market share wins, our full year guidance has improved measurably," said Jay Craig, CEO and president. "We believe that our performance in fiscal 2018 will put us very close to achieving our M2019 earnings per share target a year early."

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

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