WABCO Q1 Results Miss View, Shares Down - Quick Facts

(RTTNews) - WABCO Holdings Inc. (WBC), a supplier of technologies to improve the safety and efficiency of commercial vehicles, Thursday said first-quarter attributable net income grew to $71.9 million from $69.4 million in the previous year. Earnings per share rose to $1.22 from $1.12.

On a performance basis, earnings per share were $1.41, while it totaled $1.28 last year. On average, 15 analysts polled by Thomson Reuters expected earnings of $1.43 per share for the quarter. Analysts' estimates typically exclude special items.

Sales declined 10.6 percent to $652.2 million from $729.5 million reported last year. Sales were up 3.8 percent in local currencies. Analysts expected revenues of $697.99 million.

Further, the company revised its guidance for full year 2015 to reflect strengthening of U.S. dollar and market changes.

Full year 2015 earnings per share on a performance basis is now estimated to range from $5.60 to $6.00 compared to the previous guidance of from $5.80 to $6.30. Analysts expect earnings of $6.13 per share for the year.

Earnings per share on a reported basis is estimated to now range from $4.76 to $5.26 versus previous guidance from $5.09 to $5.59.

Sales growth is now expected to range from 5 to 10 percent compared to the previous guidance of from 6 to 11 percent in local currencies.

WBC closed up 1.8 percent at $133.21 on Wednesday, and fell 5.2 percent in pre-market activity.