Free Post Earnings Research Report: Meritor’s Sales Surged 32%; Adjusted EPS Soared 114%

Stock Monitor: Miller Industries Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 8, 2018 / If you want access to our free earnings report on Meritor, Inc. (NYSE: MTOR), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MTOR. Meritor reported its second quarter fiscal 2018 operating and financial results on May 03, 2018. The supplier of parts for commercial vehicles and heavy equipment outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Miller Industries, Inc. (NYSE: MLR), which also belongs to the Consumer Goods sector as the Company Meritor. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Meritor most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the second quarter of fiscal year 2018, Meritor posted sales of $1.07 billion, up 32% compared to $806 million in Q2 FY17. The increase in revenue was primarily driven by higher production in all of the Company’s major markets. The Company’s reported numbers exceeded analysts’ estimates by $88.28 million.

During Q2 FY18, Meritor’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was $122 million compared to $82 million in Q2 FY17. The Company’s adjusted EBITDA margin for the reported quarter was 11.4% compared to 10.2% in the year earlier same quarter. Higher adjusted EBITDA and adjusted EBITDA margin were driven primarily by conversion on higher revenue, $11 million of lower pension and retiree medical benefits and a one-time $10 million legal charge related to a dispute with a joint venture in the prior year that did not repeat.

For Q2 FY18, net income attributable to Meritor were $57 million, or $0.63 per diluted share, compared to $22 million, or $0.24 per diluted share, in Q2 FY17. The reported quarter higher net income was driven primarily by conversion on increased revenue.

Meritor’s adjusted income from continuing operations was $68 million, or $0.75 per diluted share, for Q2 FY18 compared to $32 million, or $0.35 per diluted share, in Q2 FY17. The Company’s earnings surpassed Wall Street’s estimates of $0.75 per share.

Meritor’s Segment Results

During Q2 FY18, the Commercial Truck & Trailer sales surged 38% to $854 million on a y-o-y basis, primarily driven by higher production in all of its major markets. Higher sales in the reported quarter were also driven by the continued benefits from new business wins as well as favorable foreign currency.

In Q2 FY18, adjusted EBITDA for the Commercial Truck & Trailer segment was $96 million, up 85% compared to $52 million in the year earlier quarter. For Q2 FY18, the segment’s adjusted EBITDA margin was 11.2%, up from 8.4% in Q2 FY17. The increase in the segment’s adjusted EBITDA was driven primarily by conversion on higher revenue, a one-time legal charge related to a dispute with a joint venture in Q2 FY17 and the favorable impact of changes to retiree medical benefits.

For Q2 FY18, the Aftermarket & Industrial segment posted sales of $256 million, up 13% compared to $226 million in Q2 FY17, primarily driven by higher sales in the Company’s Industrial business, which included sales from the business that was acquired in Q4 2017. The segment’s adjusted EBITDA for Aftermarket & Industrial was $36 million for the quarter, up 13% compared to $32 million in the year earlier same quarter. The segment’s adjusted EBITDA margin decreased to 14.1% versus 14.2% in Q2 FY17. The increase in the segment’s adjusted EBITDA was driven primarily by the favorable impact of changes to retiree medical benefits.

Cash Matters

During Q2 FY18, Meritor’s cash flow provided by operating activities was $39 million compared to $44 million in Q2 FY17. The Company’s reported quarter free cash flow was $22 million compared to $21 million in the year earlier same quarter.

Outlook

For the fiscal year 2018, Meritor is forecasting revenue to be in the range of $4.0 billion to $4.1 billion. The Company is expecting net income to be in the band of $130 million to $145 million and adjusted earnings to be in the range of $2.70 to $2.85. For FY18, Meritor is anticipating operating cash flow to be in the range of $220 million to $235 million and free cash flow to be in the band of $120 million to $135 million.

Stock Performance Snapshot

June 07, 2018 – At Thursday’s closing bell, Meritor’s stock slightly advanced 0.32%, ending the trading session at $21.97.

Volume traded for the day: 570.83 thousand shares.

Stock performance in the last month – up 5.68%; and past twelve-month period – up 36.88%

After yesterday’s close, Meritor’s market cap was at $1.90 billion.

Price to Earnings (P/E) ratio was at 5.09.

The stock is part of the Consumer Goods sector, categorized under the Auto Parts industry.

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