WABCO Holdings Inc. (WBC) reported third quarter net income of $33.8 million or $0.52 per share, compared to $63.7 million or $0.97 per share a year ago.
Excluding items, performance net income for the quarter was $12.5 million or $0.19 per diluted share, compared to $61.3 million or $0.94 per diluted share a year earlier.
On average, 5 analysts polled by Thomson Reuters expected loss per share of $0.06 for the quarter. Analysts' estimate typically exclude special items.
Sales for the quarter fell 42% to $382 million from $655 million in the prior year. Four analysts estimated revenues of $321.08 million.
Looking ahead, WABCO improves its previously disclosed operating framework for 2009 to include an estimated decline in 2009 sales of 37% to 39% in local currencies, resulting in a full year reported operating margin of negative 1.9% or higher, including streamlining and separation items, and an operating margin of 2.0 percent or higher on a performance basis.
WABCO also expects that the company will generate more than $90 million in free cash flow for 2009, which excludes about $50 million of streamlining and separation items.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.