WABCO Holdings Inc. WBC canceled the first-quarter 2019 earnings call scheduled for Apr 26, 2019, due to the agreement and plan of merger with ZF Friedrichshafen AG. However, the company issued the earnings report in Form 10-Q quarterly. Its earnings were $1.64 per share in the reported quarter, marking a decline from $1.87 recorded in the prior-year quarter. The Zacks Consensus Estimate for earnings was pegged at $1.85.
Reportedly, quarterly sales of WABCO declined 7% to $933 million. This decline was due to a challenging environment that led to a slump in the global production of new trucks, buses and trailers as well as passenger cars. The Zacks Consensus Estimate for sales was pegged at $972.3 million.
During the reported quarter, gross profit decreased 11.7% year over year to $273 million. Operating expenses rose 3.5% year over year to $167.7 million.
At the end of first-quarter 2019, WABCO had cash and cash equivalents of $603.3 million compared with $503.8 million as of Dec 31, 2018. The company’s long-term debt was $829 million as of Mar 31, 2019, marking a decline from $845 million as of Dec 31, 2018.
At the end of first-quarter 2019, WABCO witnessed net cash inflow of $58.8 million compared with $89 million a year ago.
Apart from WABCO, a few other stocks in the auto space are PACCAR, Inc. PCAR, SPX Corporation SPXC and AB Volvo VLVLY. PACCAR and Volvo have long-term growth rates of 8.4% and 5%, respectively. SPX Corp has an expected current-year growth rate of 18.2%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PACCAR Inc. (PCAR) : Free Stock Analysis Report
Wabco Holdings Inc. (WBC) : Free Stock Analysis Report
AB Volvo (VLVLY) : Free Stock Analysis Report
SPX Corporation (SPXC) : Free Stock Analysis Report
To read this article on Zacks.com click here.