Meritor’s Fiscal 1Q Loss Widens
Truck components maker Meritor Inc. said Thursday it lost $22 million, or 23 cents per share, in its fiscal first quarter, compared with a net loss of $2 million, or 3 cents, a year ago.
The company said its quarterly loss included $24 million in restructuring costs.
Adjusted earnings before interest, taxes, depreciation and amortization rose 22% to $79 million, the company said in a statement.
Sales for the quarter ended Dec. 31 climbed 21% to $1.16 billion, Meritor said.
Its commercial truck segment’s sales rose to $751 million, up from $575 million a year ago. Adjusted EBITDA for the segment rose to $47 million, from $33 million.
Its aftermarket and trailer segment posted sales of $235 million, up from $211 million. The segment’s adjusted EBITDA rose $4 million to $20 million.
