Meritor: Fiscal 4Q Earnings Snapshot
TROY, Mich. (AP) _ Meritor Inc. (MTOR) on Wednesday reported fiscal fourth-quarter earnings of $32 million.
The Troy, Michigan-based company said it had net income of 36 cents per share. Earnings, adjusted for non-recurring costs and pretax expenses, were 82 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The supplier of parts for commercial vehicles and heavy equipment posted revenue of $1.08 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.03 billion.
For the year, the company reported profit of $117 million, or $1.28 per share. Revenue was reported as $4.18 billion.
Meritor expects full-year earnings to be $3.10 per share, with revenue expected to be $4.25 billion.
Meritor shares have fallen 28 percent since the beginning of the year. The stock has decreased 35 percent in the last 12 months.