WABCO Q1 Earnings Down; Backs FY EPS Outlook

(RTTNews) - Autoparts supplier WABCO Holdings Inc. (WBC) Friday reported that its first-quarter net income attributable to company declined to $69.4 million from $73.7 million in the same period last year. Earnings per share for the quarter reduced to $1.12 from $1.15 last year.

The performance net income attributable to the company was $79.3 million or $1.28 per share. On average, 12 analysts polled by Thomson Reuters expected earnings per share of $1.26 for the quarter. Analysts' estimates typically exclude one-time items.

The company posted first-quarter sales of $729.5 million compared with $644.7 million in the year-ago quarter. Analysts estimated revenues of $688.04 million for the quarter.

For the full year 2014, WABCO continues to expect earnings per share of $4.78 to $5.28, while on a performance basis, it still estimates earnings in the range of $5.30 - $5.80 per share. Analysts currently expect full-year earnings to be $5.75 per share, on revenues of $2.97 billion. In addition, the company expects full-year 2014 sales growth to range from 6 to 11 percent in local currencies.