Meritor: Fiscal 3Q Earnings Snapshot
TROY, Mich. (AP) _ Meritor Inc. (MTOR) on Wednesday reported fiscal third-quarter net income of $86 million.
On a per-share basis, the Troy, Michigan-based company said it had net income of $1. Earnings, adjusted for one-time gains and costs, were $1.20 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The supplier of parts for commercial vehicles and heavy equipment posted revenue of $1.17 billion in the period, which matched Street forecasts.
Meritor expects full-year earnings to be $3.70 per share, with revenue expected to be $4.4 billion.
Meritor shares have climbed 40% since the beginning of the year. The stock has climbed 21% in the last 12 months.