Truck parts maker Meritor has beaten analysts’ expectations of second quarter profit after margins increased and sales at its aftermarket and trailer segment rose.
Meritor said segment revenue rose for the second quarter due mostly to increased sales in North America, partly offset by declines in Europe, Reuters reported.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Gross margins rose to $134m from $118m.
The supplier left full-year revenue guidance at $4.8bn. Analysts on average had been expecting revenue of $4.9bn, according to Thomson Reuters I/B/E/S.
Q2 sales in the aftermarket and trailer segment rose 2% to $263m as total sales slipped 1.7% to $1.16bn.
Net income rose to $20m, or 21 cents per share, from $17m, or 18 cents per share, a year ago.
Excluding special items, Meritor earned 33 cents per share, easily beating the 25 cents per share that analysts had expected, Reuters noted.
