Wabco Holdings (WBC), a technology supplier for commercial vehicles, reported Q4 results that beat the Street view on EPS but fell short on total revenues as the company guided 2015 revenues to exceed analyst projections.
The company reported Q4 adjusted net income attributable to the company of $81.6 million, or $1.38 per diluted share, up from $80.6 million, or $1.29 per diluted share, a year ago and topping analyst analyst estimates $1.36. Q4 GAAP net income attributable to the company of $65.1 million, or $1.10 per diluted share, was down from $416.3 million, or $6.65 per diluted share, a year ago primarily due to a one-time gain of $279.5 million in Q4 2013 when the European Commission reimbursed WABCO as a result of the company’s successful appeal of a fine.
Total revenues of $679.1 million were down from $720.5 million in Q4 2013 and missed analyst projections of $701.4 million.
The company expects full year 2015 sales growth to increase 6 to 11% from $2.85 billion in sales in 2014, implying a range of $3.02 to $3.16 billion. Recent analyst estimates project $3.01 billion in revenues for 2015. WBC guided adjusted EPS in a range of $5.80 to $6.30 and GAAP EPS in a range of $5.09 to $5.59. Analysts project full-year adjusted EPS of $6.27.
Shares of WBC are up $0.24, or 0.23%, at $103.30 in pre-market trading within a 52-week range of $85.22 - $111.65.
