Meritor: Fiscal 4Q Earnings Snapshot
TROY, Mich. (AP) _ Meritor Inc. (MTOR) on Wednesday reported fiscal fourth-quarter profit of $43 million.
On a per-share basis, the Troy, Michigan-based company said it had net income of 51 cents. Earnings, adjusted for one-time gains and costs, were 83 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The supplier of parts for commercial vehicles and heavy equipment posted revenue of $1.03 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.05 billion.
For the year, the company reported profit of $291 million, or $3.37 per share. Revenue was reported as $4.39 billion.
Meritor expects full-year earnings in the range of $2.75 to $2.85 per share, with revenue in the range of $3.7 billion to $3.8 billion.
Meritor shares have increased 39% since the beginning of the year. The stock has climbed 39% in the last 12 months.