WABCO Holdings Inc. (WBC) SEC Filing 10-Q Quarterly report for the period ending Friday, March 31, 2017

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Exhibit 99.1

 

LOGO

WABCO Reports Q1 2017 Results; Continues to Solidly Outperform Global Commercial Vehicle Market

 

  Q1 2017 sales of $747.3 million, up 8.5 percent from a year ago and up 11.0 percent in local currencies

 

  Q1 2017 reported operating margin of 14.5 percent, up from revised 13.4 percent a year ago; performance Q1 2017 operating margin of 14.9 percent, up from revised 14.7 percent a year ago, in accordance with Accounting Standards Update 2017-07

 

  In Q1 2017, WABCO continued to strongly convert income into cash, resulting in net cash from operating activities of $54.3 million

 

  Q1 2017 reported diluted EPS of $1.48, up from negative $0.24 a year ago; performance Q1 2017 diluted EPS of $1.47, up from $1.37 a year ago

BRUSSELS, Belgium, April 21, 2017 – WABCO Holdings Inc. (NYSE: WBC), a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, today reported Q1 2017 results.

WABCO Q1 2017

As of January 1, 2017, WABCO has elected to adopt Accounting Standards Update (ASU) 2017-07, which amends classification of pension and post-retirement benefit costs. As a result, WABCO’s Q1 2016 income statement is retrospectively revised to provide comparability.

 

U.S. Dollars in millions except EPS or otherwise indicated    Q1 2017     Q1 2016*  

Sales

   $ 747.3     $ 688.7  

Sales change – in U.S. Dollars year on year

     Up 8.5     —    

Sales change – in local currencies year on year

     Up 11.0     —    

Operating Income – Reported

   $ 108.5     $ 92.6  

Operating Income – Performance

   $ 111.1     $ 101.2  

Operating Margin – Reported

     14.5     13.4

Operating Margin – Performance

     14.9     14.7

Net Income Attributable to the Company – Reported

   $ 80.7     ($ 13.4

Net Income Attributable to the Company – Performance

   $ 80.3     $ 77.6  

Diluted EPS – Reported

   $ 1.48     ($ 0.24

Diluted EPS – Performance

   $ 1.47     $ 1.37  

 

* Revised in accordance with ASU 2017-07

“Overall, Q1 2017 marked yet another quarter of WABCO’s solid outperformance of the commercial vehicle industry relative to global truck and bus production,” said Jacques Esculier, WABCO Chairman and Chief Executive Officer.

“We continued to achieve market share gains and to sustain additional uptake of our industry-leading safety and efficiency technologies globally,” said Esculier. “In particular, in China, the world’s largest market for commercial vehicles, we further increased WABCO content per vehicle boosted by the continued momentum in adoption of anti-lock braking systems on light- and medium-duty trucks.”


The following information was filed by WABCO Holdings Inc. on Friday, April 21, 2017 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Exhibit 10.1 - MATERIAL CONTRACT

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Exhibit 31.1 - CERTIFICATION OF THE CEO SECTION 302

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Exhibit 31.2 - CERTIFICATION OF THE CFO SECTION 302

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Exhibit 32.1 - CERTIFICATION OF THE CEO SECTION 906

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Exhibit 32.2 - CERTIFICATION OF THE CFO SECTION 906

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  • Form Type: Quarterly
  • Number of times amended: 0
  • Accession Number: 0001390844-17-000008
  • Submitted to the SEC: Friday, April 21, 2017
  • Accepted by the SEC: Friday, April 21, 2017
  • Period Ending: March 2017
Companies
 

WBC Morningstar

WABCO Holdings Inc.

$118.60 +0.89 (+0.76%)

Day's Range:
$117.73 to $119.15

52-Week Range:
$84.48 to $120.00

Volume:
108,957

Volume (Avg):
361,992

Earnings per Share:
$3.98

PEG / Short / PE Ratios:
2.53 / 5.55 / 29.80

Market Cap:
$6.47B

Book Value:
12.87

EBITDA:
$461.20M