Meritor, Inc. Reports Earnings Results for the First Quarter of 2013; Provides Earnings Guidance for the Fiscal Year 2013
The company now expects sales in fiscal year 2013 to be approximately $3.8 billion, down around $600 million from 2012 and $200 million lower than what the company was expecting in November 2012. The company's revenue outlook is based on the company market assumptions. The company's capital expenditures are expected to be in the range of $65 million to $75 million, as the company continues to manage investments in line with market dynamics, but still investing to drive operational efficiency and productivity improvements. The company announced that interest expense is now expected to be in the range of $95 million to $105 million, higher than it's original guidance due to the new convertible debt transaction recently executed.