WABCO Says 2014 Results May Tend Toward The Lower End Of Guidance Range

(RTTNews) - WABCO Holdings Inc. (WBC), a supplier of technologies to improve the safety and efficiency of commercial vehicles, Tuesday reiterated its guidance for 2014 as previously disclosed on July 25, adding that if current market conditions prevail, results would tend toward the lower end of the guidance range.

Jacques Esculier, WABCO Chairman and Chief Executive Officer, said that for the remainder of 2014, the firm expects further softening of global commercial vehicle production, against the background of geopolitical and economic uncertainties.

Yet, "...WABCO reiterates its previously communicated full year 2014 guidance, although, if current market conditions prevail, we anticipate that our full year results would tend toward the lower end of our guidance range," he added.

WABCO expects full year 2014 sales growth to range from 6 to 9 percent in local currencies and operating margin to range from 12.9 to 13.3 percent on a performance basis or from 12.2 to 12.6 percent on a U.S. GAAP basis.

WABCO's earnings per share is expected to range from $5.45 to $5.75 on a performance basis or from $4.77 to $5.07 on a U.S. GAAP basis.

On average, 14 analysts polled by Thomson Reuters expect earnings of $5.62 per share for the year. Analysts' estimates typically exclude special items. Analysts expect revenues of $2.95 billion.

WABCO reconfirmed that it expects in 2014 to convert between 80 and 90 percent of its net income attributable to the company into free cash flow, excluding payments associated with streamlining, separation and acquisition items.