Exhibit 99.1

 

LOGO

WABCO Reports Q3 2018 Results; Continues to Outperform Global Commercial Vehicle Market; Delivers Solid EPS Growth; Raises EPS Guidance for 2018

 

   

Q3 2018 sales of $914.8 million, up 10.5 percent from a year ago and up 13.4 percent in local currencies

 

   

Q3 2018 reported operating margin of 11.7 percent up from 11.3 percent a year ago; performance Q3 2018 operating margin of 12.8 percent versus 14.5 percent a year ago

 

   

In Q3 2018, WABCO strongly converted income into cash, resulting in net cash from operating activities of $134.4 million up 59.8 percent from $84.1 million a year ago

 

   

Q3 2018 reported diluted EPS of $1.41, up 8.5 percent from $1.30 a year ago; performance Q3 2018 diluted EPS of $1.78, up 4.1 percent from $1.71 a year ago

 

   

Updates sales guidance for full year 2018 to now range from $3,850 million to $3,900 million versus previous guidance from $3,850 million to $3,950, primarily driven by foreign exchange assumptions; in local currencies, sales growth to now range from 14.0% to 16.0% versus previous guidance from 13.0% to 16.0%

 

   

Updates operating margin guidance for full year 2018 to now range from 13.5% to 13.7% versus previous guidance from 13.6% to 14.0%, performance operating margin guidance to now range from 14.2% to 14.4% versus previous guidance from 14.3% to 14.7%

 

   

Updates diluted EPS guidance for full year 2018 to now range from $7.20 to $7.40 versus previous guidance from $7.10 to $7.40; performance full year 2018 diluted EPS to now range from $7.65 to $7.85 versus previous guidance from $7.45 to $7.75

BRUSSELS, Belgium, October 18, 2018 – WABCO Holdings Inc. (NYSE: WBC), the leading global supplier of braking control systems and other advanced technologies that improve the safety, efficiency and connectivity of commercial vehicles, today reported Q3 2018 results.

 

U.S. Dollars in millions except EPS or otherwise indicated    Q3 2018     Q3 2017  

Sales

   $ 914.8     $ 827.8  

Sales change – in U.S. Dollars year on year

     Up 10.5     —    

Sales change – in local currencies year on year

     Up 13.4     —    

Operating Income – Reported

   $ 107.0     $ 93.2  

Operating Income – Performance

   $ 117.1     $ 120.0  

Operating Margin – Reported

     11.7     11.3

Operating Margin – Performance

     12.8     14.5

Net Income Attributable to the Company – Reported

   $ 74.5     $ 69.8  

Net Income Attributable to the Company – Performance

   $ 94.1     $ 92.0  

Diluted EPS – Reported

   $ 1.41     $ 1.30  

Diluted EPS – Performance

   $ 1.78     $ 1.71  

“In Q3 2018, global truck and bus production declined by 8 percent year-over-year driven by a drop of 27 percent in China, partially offset by further market growth in the Americas and India. In this environment, WABCO continued to outperform the commercial vehicle industry and achieved $915 million in sales, an increase of 10.5 percent from a year ago and up 13.4 percent in local currencies,” said Jacques Esculier, WABCO Chairman and Chief Executive Officer.

WABCO’s Operating System, the company’s globally standardized management environment, delivered $16.6 million of net materials and conversion productivity representing 3.8 percent of gross materials productivity and 7.7 percent of conversion productivity.

“WABCO delivered performance operating income of $117 million in line with the previous year at equal exchange rates only partially mitigating headwinds related to the continued supply chain constraints within certain areas of the industry, raw material cost inflation, as well as increased engineering expenses,” added Esculier.

Subsequent to quarter end, WABCO has been notified of a favorable arbitration settlement that reduces WABCO’s 2018 full year performance tax rate to 17.1 percent and to 10.0 percent for the third quarter.

“In this challenging global market environment, WABCO delivered solid performance EPS growth of 4 percent and strongly converted income into cash, resulting in net cash from operating activities of $134 million, up almost 60 percent compared with the third quarter of 2017,” said Esculier.


The following information was filed by Wabco Holdings Inc. (WBC) on Thursday, October 18, 2018 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.

View differences made from one quarter to another to evaluate Wabco Holdings Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Wabco Holdings Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account