Wabco Posts Mixed Q3 Results; Boosts FY16 EPS Outlook Above Street, Narrows Revenue Guidance Range In Line

SHARE

Wabco Holdings (WBC) reported financial results for Q3, with better-than-expected earnings and revenue that fell short of analysts’ estimates; it raised its fiscal 2016 outlook for earnings and narrowed its guidance range for revenue.

The supplier of electronic, mechanical, electro-mechanical and aerodynamic products posted Q3 earnings of $1.54 per share, compared with the prior-year period’s $1.39 per share. Analysts polled by Capital IQ were expecting EPS of $1.48.

Revenue was $675.4 million, up from $643.6 million in the same quarter last year. The Street view is for revenue of $700.1 million.

The company now expects fiscal 2016 EPS of $5.75 – $5.85, versus the Street view of $5.72. The prior guidance range was for EPS of $5.60 – $5.90.

It narrowed its revenue guidance range to $2.8 billion – $2.83 billion, compared with forecasts for revenue of $2.83 billion. The previous guidance was for $2.78 billion – $2.86 billion.

SHARE

LEAVE A REPLY