ArvinMeritor

Meritor Swings To 3Q Profit As Truck Demand Continues Growth

Meritor Inc.

(MTOR) swung to a fiscal third-quarter profit as the auto parts maker continued to benefit from rising truck demand, though the results were still slightly weaker than expected.The company formerly known as ArvinMeritor has boosted earnings by successfully cutting costs over the past year, while a rebound in North American and European auto demand helps improve sales. In the latest quarter, the company said better global commercial-truck demand drove top-line growth.The company changed its name to highlight its focus after the sale of its body systems segment.For the quarter ended June 30, the commercial- and light-vehicle supplier reported a profit of $17 million, or 18 cents a share, compared with a prior-year loss of $3 million, or 3 cents a share. Excluding restructuring costs and other items, earnings from continuing operations were 26 cents a share, versus a loss of 6 cents. Analysts expected earnings of 29 cents a share in the latest quarter.Sales grew 33% to $1.29 ...

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