WABCO Holdings Q3 Profit Up; Updates FY13 Guidance - Quick Facts

(RTTNews) - WABCO Holdings Inc. (WBC), Friday reported an increase in net income for the third-quarter, that exceeded the consensus estimates, reflecting higher sales. The company also updated its full-year guidance.

Net income attributable to the company was $80 million or $1.26 per share, up from $77.5 million or $1.19 per share a year ago.

WABCO reported performance net income of $79.5 million or $1.26 per share for the quarter. On average, nine analysts polled by Thomson Reuters expected the company to report earnings per share of $1.23 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the period increased 13.4 percent to $677.1 million, from prior year's $588.3 million. The Street expected the company to generate revenues of $666.43 million for the quarter.

WABCO narrowed its full-year 2013 guidance and now expects sales growth to range between 7.5 and 8.5 percent in local currencies, versus previous guidance of 5 and 8 percent. On a performance basis, the company now expects earnings to be in the range $4.90 to $5 per share, compared with previous expectations of $4.70 to $5 per share. On a GAAP basis, the company said it now expects earnings to range from $7.84 to $7.94 per share, versus previous guidance of $7.64 to $7.94 per share. Analysts expect the company to report earnings of $4.94 per share for the quarter.