UPDATE: TRW Automotive Q4 Earnings Top Expectations

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TRW Automotive Holdings Corp
TRW
reported stronger-than-expected earnings for the fourth quarter. The Livonia, Michigan-based company posted a quarterly loss of $360 million, or $3.22 per share, versus a year-ago profit of $363 million, or $3.00 per share. Excluding items, the company earned $268 million, or $2.31 per share, versus analysts' estimates of $1.87 per share Its sales fell 3% to $4.3 billion in the quarter, versus expectations of $4.21 billion. TRW Automotive reported a quarterly operating loss of $481 million, versus operating income of $300 million. Earnings before interest, taxes, depreciation and amortization and special items climbed to $472 million from $447 million. During 2014, the company used $400 million of cash to repurchase over 4.5 million shares of its common stock. As of December 31, 2014, TRW Automotive had $1,578 million of debt and $1,031 million of cash and cash equivalents. "2014 was a highly successful year for TRW as the Company set new records for sales and adjusted earnings per share while not only continuing to invest for future growth, but also addressing the level of our legacy pension obligations." said John C. Plant, Chairman and Chief Executive Officer. TRW Automotive projects FY15 sales of $16.6 billion to $16.9 billion and $4.2 billion for the first quarter. Analysts had projected FY15 sales of $18 billion and Q1 sales of $4.44 billion. TRW Automotive shares gained 0.34% to close at $103.66 yesterday.
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Posted In: EarningsNewsGuidanceprofit
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