Meritor: Fiscal 3Q Earnings Snapshot
TROY, Mich. (AP) _ Meritor Inc. (MTOR) on Wednesday reported fiscal third-quarter net income of $64 million.
On a per-share basis, the Troy, Michigan-based company said it had net income of 71 cents. Earnings, adjusted for non-recurring costs and restructuring costs, were 89 cents per share.
The results beat 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 $1.13 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $1.06 billion.
Meritor expects full-year earnings in the range of $2.90 to $3 per share.
Meritor shares have decreased 12 percent since the beginning of the year. The stock has risen 19 percent in the last 12 months.