Meritor has reported a fiscal second quarter loss of US$4m versus a net profit of $20m a year ago.

Sales were down 22% to $908m and adjusted EBITDA was $58m, compared with $95m. Adjusted EBITDA margin was 6.4%, compared to 8.2%.

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Meritor had booked a net loss of $21m in the first quarter.

“Our improved performance this quarter was in line with our expectations,” said Chairman, CEO and president Chip McClure. “We drove higher EBITDA margins quarter over quarter as a result of net material performance, pricing actions and lower structural costs.”

The supplier said Q2 sales fell in all of its markets apart from South America.

The Q2 operating loss of $4m compared to net income of $29m a year ago and included $11m of restructuring charges.

Adjusted operating income was $6m versus $32m.

Adjusted EBITDA was $58m, compared to $95m.

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