Meritor: Fiscal Q3 Earnings Snapshot
TROY, Mich. (AP) _ Meritor Inc. (MTOR) on Wednesday reported fiscal third-quarter net income of $42 million, after reporting a loss in the same period a year earlier.
The Troy, Michigan-based company said it had net income of 58 cents per share. Earnings, adjusted for one-time gains and costs, were 62 cents per share.
The supplier of parts for commercial vehicles and heavy equipment posted revenue of $1.02 billion in the period.
Meritor expects full-year earnings to be $2.45 per share, with revenue expected to be $3.9 billion.
Meritor shares have dropped 14% since the beginning of the year. The stock has risen slightly more than 3% in the last 12 months.