WABCO Adjusts 2018 Earnings And Sales Guidance - Quick Facts

(RTTNews) - WABCO Holdings Inc. (WBC) announced Thursday that it expects full year 2018 performance earnings per share to now be in a range of $7.45 to $7.75, compared to the previous guidance range of $7.30 to $7.80.

Sales are now projected in the range of $3.850 billion to $3.950 billion, down from the prior outlook range of $3.885 billion to $4.015 billion

"While mitigating headwinds from raw material cost inflation and industry supply chain constraints, alongside a continued year-over-year increase in engineering spend, particularly in the second half of the year, we confirm our commitment to deliver solid EPS growth for 2018," said Jacques Esculier, WABCO CEO.

During the second quarter of 2018, WABCO repurchased 708,000 shares for $89.2 million through its share buyback program.

WABCO said it intends to repurchase shares up to a total of $300 million during 2018, subject to market conditions and applicable regulatory requirements.

Second-quarter performance earnings per share were $2.00, up 18.3 percent from $1.69 in the year-ago quarter. Sales for the quarter grew 25.9 percent $1.001 billion from last year. It was also up 20.7 percent in local currencies.