WABCO Lifts FY17 Earnings, Sales View - Quick Facts

(RTTNews) - WABCO Holdings Inc. (WBC), a Belgium-based supplier of technologies and services for commercial vehicles, on Thursday raised its forecast for fiscal 2017 as it continues to strongly outperform global commercial vehicle market.

In pre-market activity, WABCO shares were gaining 3.6 percent to $154.44.

For the year, the company now expects reported earnings per share to now range from $5.95 to $6.10 versus previous guidance of $5.74 to $6.04, excluding a one-time pre-tax gain from the Meritor WABCO transaction of approximately $240 million, subject to purchase accounting finalization.

Performance full-year 2017 earnings per share is now expected to range from $6.55 to $6.70 versus previous guidance of $6.05 to $6.35.

On average, 15 analysts polled by Thomson Reuters expect earnings of $6.34 per share for the year. Analysts' estimates typically exclude special items.

Further, the company now expects full-year sales to range from $3.25 billion to $3.30 billion versus previous guidance from $3.025 billion to $3.10 billion. Sales growth is expected to now range from 13.5 to 15.5 percent in local currencies versus previous guidance from 8 to 11 percent

Analysts expect sales of $3.11 billion for the year.

WABCO said it continued to expand its platform for growth by completing the acquisition of R.H. Sheppard as a key step toward providing active steering capabilities and at the same time by acquiring full ownership of the Meritor WABCO joint venture in North America.