Meritor Earnings: Here’s Why Investors are Happy Now
Meritor (NYSE:MTOR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 7.4%.
Meritor Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 10.53% to $0.34 in the quarter versus EPS of $0.38 in the year-earlier quarter.
Revenue: Decreased 10.78% to $993 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Meritor reported adjusted EPS income of $0.34 per share. By that measure, the company beat the mean analyst estimate of $0.19. It missed the average revenue estimate of $1.02 billion.
Quoting Management: “Our performance this quarter was in line with our expectations,” said Executive Chairman, Interim CEO and President Ike Evans. “We have driven higher EBITDA margins over the last year primarily through improved net material performance, lower structural costs and pricing initiatives.”
Key Stats (on next page)…