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- Meritor Inc (NYSE:MTOR) reported fourth-quarter FY21 sales growth of 24.7% year-on-year, to $945 million, missing the analyst consensus of $975.83 million.
- Commercial Truck sales increased 32% Y/Y, and Aftermarket & Industrial sales rose 11%.
- The gross profit rose 86.4% Y/Y to $110 million with a profit margin of 11.6%.
- The operating margin was 4.1%, and operating income for the quarter jumped 254% to $39 million.
- Adjusted EBITDA for the quarter was $91 million with a margin of 9.6%.
- Adjusted EPS was $0.80 versus $0.11 last year.
- The company held $101 million in cash and equivalents as of September 30, 2021. Cash flow provided by operating activities for the quarter totaled $51 million with a free cash flow of $8 million.
- Outlook: Meritor sees FY22 sales of $4.1 billion - $4.3 billion, versus the consensus of $4.32 billion.
- The company expects FY22 adjusted EPS of $3.25 - $3.75, versus the consensus of $3.89.
- Price Action: MTOR shares are trading lower by 2.25% at $26.99 on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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