Source: Meritor announcement
TROY, Mich. – Meritor, Inc. (NYSE: MTOR) announced its Strategy Day will be held on Dec. 7, 2021. The event will be virtual and webcast from Meritor’s studio at its headquarters in Troy, Mich. Upon conclusion of the program, a live question and answer session will take place.
Meritor last month announced an approximately 25-percent fourth-quarter sales increase from the same period the year before ($945 million, up $187 million). This increase in sales was driven primarily by higher global truck production in all markets.
Net income attributable to Meritor was $62 million, or $0.87 per diluted share, compared to net income attributable to Meritor of $1 million, or $0.01 per diluted share in the same period last year. Net income from continuing operations attributable to the company was $63 million, or $0.88 per diluted share, compared to net income from continuing operations attributable to the company of $1 million, or $0.01 per diluted share in the same period last year. The increase in net income year over year was driven primarily by higher sales volumes and lower tax expense including a net tax benefit from certain tax initiatives, partially offset by higher freight and steel costs.
Adjusted income from continuing operations attributable to the company in the fourth quarter was $57 million, or $0.80 of adjusted diluted earnings per share, compared with $8 million, or $0.11 of adjusted diluted earnings per share in the same period last year.
Meritor executives presenting during the program include:
- Chris Villavarayan, Chief Executive Officer and President
- Carl Anderson, Senior Vice President and Chief Financial Officer
- John Bennett, Vice President and Chief Technology Officer
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. With more than a 110-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich. and is made up of more than 9,600 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at www.meritor.com.