Last $13.89 USD
Change Today -0.045 / -0.32%
Volume 434.7K
MTOR On Other Exchanges
Symbol
Exchange
New York
Munich
As of 12:25 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

meritor inc (MTOR) Snapshot

Open
$13.90
Previous Close
$13.93
Day High
$13.93
Day Low
$13.71
52 Week High
06/6/14 - $15.14
52 Week Low
11/13/13 - $6.09
Market Cap
1.4B
Average Volume 10 Days
1.3M
EPS TTM
$-0.04
Shares Outstanding
97.8M
EX-Date
02/4/09
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for MERITOR INC (MTOR)

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meritor inc (MTOR) Details

Meritor, Inc. designs, develops, manufactures, sells, markets, distributes, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates in two segments: Commercial Truck and Industrial, and Aftermarket and Trailer. The Commercial Truck and Industrial segment supplies drivetrain systems and components, including axles, drivelines, and braking and suspension systems, primarily for medium and heavy-duty trucks, off-highway, military, construction, bus and coach, fire and emergency, and other applications. The Aftermarket and Trailer segment supplies axles, brakes, drivelines, suspension parts, and other replacement and remanufactured parts, including transmissions to commercial vehicle and industrial aftermarket customers. This system also offers various undercarriage products and systems for trailer applications. The company sells its products under Meritor, Meritor Wabco, Euclid, Trucktechnic, Mascot Truck Parts, and Meritor AllFit brand names primarily to OEMs and its parts marketing operations, dealers, and other independent distributors, as well as service garages in the aftermarket industry. It operates in North America, South America, Europe, and the Asia Pacific. The company was formerly known as ArvinMeritor, Inc. and changed its name to Meritor, Inc. in March 2011. Meritor, Inc. was founded in 1921 and is headquartered in Troy, Michigan.

8,900 Employees
Last Reported Date: 11/20/13
Founded in 1921

meritor inc (MTOR) Top Compensated Officers

Executive Chairman, Chief Executive Officer a...
Total Annual Compensation: $517.7K
President and Chief Operating Officer
Total Annual Compensation: $541.6K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $375.9K
Compensation as of Fiscal Year 2013.

meritor inc (MTOR) Key Developments

Meritor Announces Redemption of All of its Outstanding $84,396,000 Aggregate Principal Amount of 8.125% Notes Due 2015

Meritor, Inc. announced that it has issued a notice of redemption for all of its outstanding $84,396,000 aggregate principal amount of 8.125% notes due 2015. The redemption date is Sept. 20, 2014 ("Redemption Date") and the redemption price will be equal to the greater of 100% of the principal amount of the Notes to be redeemed or the sum of the present values of the remaining scheduled payments of principal and interest on the Notes (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the adjusted treasury rate, which will be calculated on the third business day preceding the Redemption Date, plus 50 basis points, plus accrued and unpaid interest, if any, to, but not including, the Redemption Date. From and after the Redemption Date, the Notes will no longer be outstanding and interest will cease to accrue unless Meritor defaults in making the redemption payment.

Meritor To Sell Its Mascot Business

Meritor, Inc. (NYSE:MTOR) is in discussions to sell its assets of Mascot business. Meritor completed its strategic review in North America and decided to sell its Mascot business. Meritor is targeting fourth quarter of 2014 for completion of sale and expects to incur losses on the sale or liquidation of assets of the Mascot business of approximately $24 million.

Meritor, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2014; Revises Earnings Guidance for the Year 2014

Meritor, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2014. For the quarter, the company's sales were $986 million compared with $993 million a year ago. This decrease was primarily due to lower commercial truck production in South America and the continued step down in revenue from the Family of Medium Tactical Vehicles (FMTV) program, which more than offset higher commercial truck production in North America. Operating income was $68 million compared with operating loss of $6 million a year ago. Income before income taxes was $247 million compared with loss before income taxes of $36 million a year ago. Income from continuing operations was $236 million compared with loss from continuing operations of $37 million a year ago. Net income was $234 million or $2.31 per diluted share compared with net loss of $38 million or $0.39 per diluted share a year ago. Net income from continuing operations attributable to the company was $236 million or $2.33 per diluted share compared with net loss from continuing operations attributable to the company of $37 million or $0.38 per diluted share a year ago. Net income attributable to the company was $234 million compared with net loss attributable to the company of $38 million a year ago. Adjusted EBITDA was $80 million compared with $87 million a year ago. Adjusted income from continuing operations was $28 million or $0.28 per diluted share compared with $33 million or $0.34 per diluted share a year ago. Free cash flow was $71 million compared with $28 million a year ago. Cash flows provided by operating activities was $85 million compared with $36 million a year ago. The improvement in both cash flow metrics is primarily due to lower pension contributions and lower cash taxes. Lower revenue and the unfavorable mix impact of lower sales in South America and the defense business drove the lower Adjusted EBITDA and Adjusted EBITDA margin year-over-year. For the nine months, the company's sales were $2,855 million compared with $2,792 million a year ago. Operating income was $158 million compared with $26 million a year ago. Income before income taxes was $279 million compared with loss before income taxes of $39 million a year ago. Income from continuing operations was $249 million compared with loss from continuing operations of $57 million a year ago. Net income was $250 million or $2.48 per diluted share compared with net loss of $63 million or $0.65 per diluted share a year ago. Net income from continuing operations attributable to the company was $245 million or $2.47 per diluted share compared with net loss from continuing operations attributable to the company of $57 million or $0.58 per diluted share a year ago. Net income attributable to the company was $246 million compared with net loss attributable to the company of $63 million a year ago. Adjusted EBITDA was $228 million compared with $191 million a year ago. Cash flows provided by operating activities was $103 million compared with cash flows used for operating activities of $73 million a year ago. Capital expenditures were $39 million compared with $31 million a year ago. Adjusted income from continuing operations was $61 million or $0.62 per diluted share compared with $28 million or $0.29 per diluted share a year ago. Free cash inflow was $64 million compared with free cash outflow of $104 million a year ago. For fiscal year 2014, the company's expects is raising its earnings and free cash flow guidance. Adjusted EBITDA margin in the range of 7.7% to 7.9% (increased from approximately 7.7%). Adjusted earnings per share from continuing operations in the range of $0.65 to $0.75 (increased from the range of $0.50 to $0.60). Free cash flow in the range of $50 to $75 million (increased from the range of breakeven to $25 million). The company is reaffirming its revenue guidance in the range of $3.75 billion to $3.8 billion, assuming constant currency. Capital expenditures in the range of $65 million to $75 million (reduced from the range of $75 million to $85 million). Cash income taxes in the range of $30 million to $40 million (reduced from the range of $40 million to $50 million).

 

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Industry Analysis

MTOR

Industry Average

Valuation MTOR Industry Range
Price/Earnings 4.9x
Price/Sales 0.4x
Price/Book NM Not Meaningful
Price/Cash Flow 4.7x
TEV/Sales NM Not Meaningful
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