- WABCO Holdings (NYSE:NYSE:WBC) reports sales rose 9.7% in local currencies.
- Adjusted gross profit rate fell 170 bps to 31.4%.
- SG&A expense rate declined 130 bps to 17.5%.
- Adjusted operating margin rate dropped 40 bps to 13.9%.
- FY2016 Guidance: Sales growth: $2.7B to $2.83B (+6% to +11% in local currencies); Adjusted operating margin rate: 13.8% to 14.3%; GAAP operating margin rate: 12.7% to 13.2%; Adjusted net income: $296.8M to $324.8M; GAAP net income: $192.2M to $220.2M; Adjusted EPS: $5.30 to $5.80; Diluted EPS: $3.43 to $3.93; Diluted shares outstanding: ~56M.
- Q1 results