Last $15.07 USD
Change Today +0.17 / 1.14%
Volume 1.6M
MTOR On Other Exchanges
Symbol
Exchange
New York
Munich
As of 8:04 PM 01/27/15 All times are local (Market data is delayed by at least 15 minutes).

meritor inc (MTOR) Snapshot

Open
$14.67
Previous Close
$14.90
Day High
$15.27
Day Low
$14.53
52 Week High
01/8/15 - $15.65
52 Week Low
01/29/14 - $9.43
Market Cap
1.5B
Average Volume 10 Days
1.5M
EPS TTM
$1.00
Shares Outstanding
97.8M
EX-Date
02/4/09
P/E TM
15.1x
Dividend
--
Dividend Yield
--
Current Stock Chart for MERITOR INC (MTOR)

meritor inc (MTOR) Related Businessweek News

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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 through two segments, Commercial Truck & Industrial, and Aftermarket & Trailer. The Commercial Truck & Industrial segment supplies drive train 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 & Trailer segment supplies axles, brakes, drivelines, suspension parts, and other replacement and remanufactured parts to commercial vehicle and industrial aftermarket customers. This segment also offers various undercarriage products and systems for trailer applications. The company sells its products under Meritor, Meritor Wabco, Euclid, Trucktechnic, 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.

9,050 Employees
Last Reported Date: 11/20/14
Founded in 1921

meritor inc (MTOR) Top Compensated Officers

Executive Chairman and Chief Executive Office...
Total Annual Compensation: $1.0M
President and Chief Operating Officer
Total Annual Compensation: $575.5K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $425.0K
Senior Vice President, General Counsel and Co...
Total Annual Compensation: $368.8K
Compensation as of Fiscal Year 2014.

meritor inc (MTOR) Key Developments

Meritor, Inc., Annual General Meeting, Jan 22, 2015

Meritor, Inc., Annual General Meeting, Jan 22, 2015., at 09:00 US Eastern Standard Time. Location: Westin Detroit Metropolitan Airport. Agenda: To elect three members of the Board of Directors of the company with terms expiring at the Annual Meeting in 2018; to approve, on an advisory basis, the compensation of the named executive officers as disclosed in this proxy statement; to consider and vote upon a proposal to approve the selection by the Audit Committee of the Board of Directors of the firm of Deloitte & Touche LLP as auditors of the Company; to consider and vote upon a proposal to approve the amended and restated Incentive Compensation Plan; and to transact such other business as may properly come before the meeting.

Sypris Solutions Inc. Enters into an Agreement to Extend and Expand its Long-Term Supply Relationship with Meritor to Provide Drivetrain Components for Its Drive Axle and Trailer Axle Assembly Operations in North America

Sypris Technologies, Inc. announced that it has entered into an agreement to extend and expand its long-term supply relationship with Meritor to provide drivetrain components for its drive axle and trailer axle assembly operations in North America. The arrangement extends two existing supply contracts, as well as adds new products and services. Components for these agreements are produced at Sypris' operations located in Louisville, Kentucky and Morganton, North Carolina. Terms of the agreements were not disclosed.

Meritor, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2014: Provides Earnings Guidance for Fiscal 2015

Meritor, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended September 30, 2014. The company's net income was $3 million, compared to $41 million in the same period last year. The company sold its Mascot remanufacturing business in the fourth quarter of fiscal year 2014 and recognized a $23 million loss on the sale. The Mascot remanufacturing business, including the loss on the sale, is reported in discontinued operations. Adjusted EBITDA was $80 million, compared to $73 million in the fourth quarter of fiscal year 2013. Adjusted EBITDA margin for the fourth quarter of fiscal year 2014 was 8.6%, compared to 8.1% in the same period last year. The increases in Adjusted EBITDA and Adjusted EBITDA margin compared to the prior year were primarily driven by improvements in material cost and operating performance and slightly higher revenue, partially offset by the unfavorable mix impact. Cash flow from operating activities for the fourth fiscal quarter was $112 million, compared to negative $23 million in the same period last year. Free cash flow for the fourth quarter of fiscal year 2014 was $74 million, compared to negative $46 million in the same period last year. Free cash flow for the fourth quarter of fiscal year 2014 includes $209 million in proceeds from the settlement of the Eaton antitrust litigation, partially offset by $134 million associated with the voluntary pre-funding of the next three years of mandatory contributions to the company's U.S. and U.K. pension plans. Free cash flow in the prior year's fourth quarter included $54 million of voluntary pension contributions and $33 million of income tax payments associated with the gain on sale of Suspensys. Sales were $933 million against $902 million a year ago. Operating income was $53 million against loss of $23 million a year ago. Income before taxes was $30 million against $87 million a year ago. Net income from continuing operations attributable to company was $29 million or $0.29 per diluted share against $40 million or $0.41 per diluted share a year ago. Adjusted income from continuing operations was $35 million or $0.35 per diluted share against $13 million or $0.13 per diluted share a year ago. Capital expenditures were $38 million against $23 million a year ago. Income from continuing operations was $30 million against $42 million o a year ago. The increase in sales was primarily driven by higher sales in North America as the Class 8 truck market continued to strengthen. This is partially offset by lower commercial truck production in South America and Europe as well as lower revenue from Defense business. For fiscal year 2014, the company posted sales of $3.76 billion, up $94 million, or 3%, from the prior fiscal year primarily due to higher sales in North America offset by lower revenues in Defense and South America. Net income was $249 million compared to a net loss of $22 million in the prior fiscal year. Net income in fiscal year 2014 included a gain of $209 million from the settlement of the Eaton antitrust litigation, $31 million of losses associated with debt extinguishments and a loss from discontinued operations of $30 million primarily associated with the sale of Mascot. Adjusted income from continuing operations in fiscal year 2014 was $101 million, or $1.02 per diluted share, compared to $41 million, or $0.42 per diluted share, a year ago. Adjusted EBITDA was $314 million in fiscal year 2014, compared to $264 million in fiscal year 2013, primarily driven by improved material and operating performance and pricing initiatives. Adjusted EBITDA margin was 8.3% in fiscal year 2014 compared to 7.2% in the prior fiscal year. Cash flow provided by operating activities for the full fiscal year was $215 million, as compared to cash flow used for operating activities of negative $96 million in the prior fiscal year. Free cash flow for fiscal year 2014 was $138 million, compared to negative $150 million in fiscal year 2013. Operating income was $217 million against $7 million a year ago. Income before taxes was $315 million against $51 million a year ago. Net income from continuing operations attributable to company was $279 million or $2.81 per diluted share against loss of $15 million or $0.15 per diluted share a year ago. Capital expenditures were $77 million against $54 million a year ago. Adjusted income from continuing operations was $101 million or $1.02 per diluted share against $41 million or $0.42 per diluted share a year ago. Income from continuing operations was $284 million against loss of $13 million a year ago. The company has reduced net debt by close to $500 million since 2012, resulting in net debt of $1.439 billion. The settlement with Eaton, proceeds from the sale of former joint venture, free cash flow generation and pension derisking strategies were important elements of the strategy that drove this achievement. For fiscal 2015, the company expects adjusted earnings per share from continuing operations in the range of $1.20 to $1.30 on revenues of about $3.8 billion. Revenue from continuing operations is expected to be approximately $3.8 billion and total free cash flow is expected to be approximately of $100 million. Adjusted EBITDA margin is expected to be in the range of 8.8% to 9.0%. Capital expenditures is expected to be in the range of $80 million to $90 million, interest expense is expected to be in the range of $80 million to $90 million, cash interest is expected to be in the range of $65 million to $75 million and effective tax rate is expected to be approximately 20%.

 

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Industry Analysis

MTOR

Industry Average

Valuation MTOR Industry Range
Price/Earnings 5.3x
Price/Sales 0.4x
Price/Book NM Not Meaningful
Price/Cash Flow 5.9x
TEV/Sales 0.1x
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