Meritor said on 21 July it was “tightening its EBITDA guidance within its previously announced range, while slightly lowering its revenue and free cash flow guidance for its third quarter of fiscal year 2011”.
The supplier now expects Q3 revenue in the range of US$1.28bn to $1.29bn, adjusted EBITDA of $100m to $104m and free cash flow to be around break even.
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At the beginning of May it had estimated revenue of $1,3bn to $1.375bn, adjusted EBITDA of $100 to $110m and adjusted operating income of $20m to $30m.
“Sales in the third fiscal quarter are expected to be up between 7% and 8% compared to the second quarter of fiscal year 2011, with strong EBITDA conversion, keeping us on the path toward our 2012 financial goals,” said CFO Jay Craig. “Cash flow is expected to be around break even primarily due to investments in inventory.”
The Q3 results are due on 2 August.
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