Worth Watching Stocks in Focus: Meritor Inc (NYSE:MTOR)

On Wednesday, Shares of Meritor Inc (NYSE:MTOR), added 2.25% and closed at $12.29 in the last trading session. The last trading range of the stock ranges between $11.34 and $12.38. Meritor, Inc. (MTOR) recently stated financial results for its fourth quarter and full fiscal year ended Sept. 30, 2016.

Fourth-Quarter Highlights

Sales were $728 million.

Net income attributable to Meritor and net income from continuing operations attributable to Meritor were each $452 million.

Diluted earnings per share from continuing operations was $5.10.

Adjusted income from continuing operations attributable to Meritor was $30 million, or $0.34 per adjusted diluted share from continuing operations.

Adjusted EBITDA was $74 million.

Adjusted EBITDA margin was 10.2 percent.

Fourth-Quarter Results

For the fourth quarter of fiscal year 2016, Meritor posted sales of $728 million, down $125 million, or 15 percent, from the same period last year. This decrease was mainly because of lower commercial truck production in North America.

Net income attributable to Meritor was $452 million, or $5.10 per diluted share, contrast with a net loss of $21 million, or $0.22 per diluted share, in the prior year. Net income from continuing operations attributable to Meritor was $452 million, contrast to a loss of $21 million in the same quarter last year. In fiscal year 2016, we recognized $405 million from the partial release of tax valuation allowances in the United States.

Adjusted income from continuing operations attributable to the company in the fourth quarter was $30 million, or adjusted diluted earnings per share from continuing operations of $0.34, contrast with $38 million, or adjusted diluted earnings per share from continuing operations of $0.40, in the prior year.

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