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Meritor, Inc. (MTOR) Stock Up in Early Trading, Here’s the Reason

Meritor, Inc. (MTOR) is a leader in the international supply of drivetrain, mobility, braking, and electric powertrain solutions for commercial and industrial businesses. The company provides novel products that offer greater performance, efficiency, and reliability.

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The price of MTOR stock during the early trading on February 22, 2022, was last checked to be $35.9 with an incline of 45.7%.

MTOR: Events and Happenings

On February 22, 2022, MTOR updated about its entry into a definitive contract with Cummins for the acquisition of MTOR. Under the agreement terms and conditions, Cummins will pay $36.50 per MTOR share, for a total value of up to $3.7 billion.

MTOR: Key Financials

On February 3, 2022, MTOR released its financial results for the quarter ended December 31, 2021. Some of the important highlights are discussed below.

Net Sales

Net sales during the quarter in 2021 were $984 million compared to $889 million in the same quarter of 2020. The company observed an increase of $95 million in its net sales over the yearly period. The company topped the analysts’ estimated net sales by $416.6 thousand.

EPS

Diluted net income per share in the quarter in 2021, was $58 million or $0.76 against $33 million or $0.44 in the same period of 2020. The company observed an increase in its net income over the year. Also, the company topped the estimated EPS target by $0.22.

On February 2, 2022, MTOR reported on the extension of its long-term contract with Wabash through December 31, 2026. On February 2, 2022, MTOR announced its PACCAR contract extension to supply 14Xe ePowertrains and battery EV integration kits for the 520EV refuse trucks, Class 8 Kenworth T680E, and Peterbilt 579EV tractors.

On December 7, 2021, MTOR hosted its Virtual Strategy Day, and the company’s Executive management participated in it. On December 7, 2021, MTOR informed about providing its Blue Horizon 14Xe ePowertrain for the next generation all-electric Saf-T-Liner C2 Jouley school bus from Thomas Built Buses.

Conclusion

MTOR stock outperformed in the last six months period as the company is in good shape to attract investments. The current early trading stock rise is due to its merger agreement with Cummins. The analysts are expecting a revenue of approximately $1.06 billion against EPS of $0.88.

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