Wabco 2Q Income Declines; Sales Rise
Belgium-based Wabco Holdings Inc. said second-quarter net income declined from a year ago, but sales and operating income improved.
Net income declined to $75 million or $1.24 per share, from $83.2 million or $1.33, a year ago, according to the commercial-vehicle safety-technology supplier.
Operating income improved to $90.4 million from $86.4 million, and sales rose 5.9% to $735 million.
Wabco, which has a joint venture with Meritor Inc., said it expects sales growth for the year to be between 6% to 9% and earnings per share of $4.77 to $5.28.
“In Q2 2014, we continued to demonstrate our ability to outperform the market in every region as we further increased Wabco content per vehicle and steadily expanded market share in a still-volatile and uncertain market that contracted by 5 percent year on year,” Chairman and CEO Jacques Esculier said in a statement.
