Wabco Holdings (NYSE: WBC) reported Q1 EPS of $1.97, $0.16 better than the analyst estimate of $1.81. Revenue for the quarter came in at $1 billion versus the consensus estimate of $941.14 million.

• Q1 2018 sales of $1,003.3 million, up 34.3 percent from a year ago and up 22.9 percent in local currencies
• Q1 2018 reported operating margin of 14.7 percent up from 14.5 percent a year ago; performance Q1 2018 operating margin of 15.1 percent, up from 14.9 percent a year ago
• In Q1 2018, WABCO continued to strongly convert income into cash, resulting in net cash from operating activities of $89.0 million
• Q1 2018 reported diluted EPS of $1.87, up 26 percent from $1.48 a year ago; performance Q1 2018 diluted EPS of $1.97, up 34 percent from $1.47 a year ago
• Raises reported diluted EPS guidance for full year 2018 to now range from $6.95 to $7.45 versus previous guidance from $6.76 to $7.26; and performance full year 2018 diluted EPS to now range from $7.30 to $7.80 versus previous guidance from $7.20 to $7.70

“We continue to accelerate WABCO’s differentiation through technology leadership while delivering excellence in operating performance globally,” said Esculier. “Our updated guidance for the full year 2018 reflects our relentless focus on driving growth and profitability. Equally, the restart of our share buyback program during this quarter underlines our continued commitment to return superior value to shareholders.”

GUIDANCE:

Wabco Holdings sees FY2018 EPS of $7.30-$7.80.

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