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WABCO Reports Q3 2017 Results; Continues to Strongly Outperform Global
Commercial Vehicle Market; Raises Guidance for 2017
|||Q3 2017 sales of $827.8 million, up 22.6 percent from a year ago and up 18.6 percent in local currencies|
|||Q3 2017 reported operating margin of 11.3 percent versus 13.0 percent a year ago; performance Q3 2017 operating margin of 14.5 percent, up from 14.1 percent a year ago|
|||In Q3 2017, WABCO continued to strongly convert income into cash, resulting in net cash from operating activities of $84.1 million|
|||Q3 2017 reported diluted EPS of $1.30 versus $1.76 a year ago, primarily impacted by an indemnification liability associated with a pre-spin-off non-WABCO related matter and by a Q3 2016 exceptional tax benefit; performance Q3 2017 diluted EPS of $1.71, up from $1.54 a year ago|
|||Continued to expand WABCOs platform for growth by completing the acquisition of R.H. Sheppard as a key step toward providing active steering capabilities and at the same time by acquiring full ownership of the Meritor WABCO joint venture in North America|
|||Raises sales guidance for full-year 2017 to now range from $3,250 million to $3,300 million versus previous guidance from $3,025 million to $3,100 million; sales growth to now range from 13.5 to 15.5 percent in local currencies versus previous guidance from 8 to 11 percent|
|||Raises reported diluted EPS guidance for full-year 2017 to now range from $5.95 to $6.10 versus previous guidance from $5.74 to $6.04, excluding a one-time pre-tax gain from the Meritor WABCO transaction of approximately $240 million, subject to purchase accounting finalization; and performance full-year 2017 diluted EPS to now range from $6.55 to $6.70 versus previous guidance from $6.05 to $6.35|
The following information was filed by Wabco Holdings Inc. (WBC) on Thursday, October 19, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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