Benzinga | May 4, 2021 06:57AM EDT

Meritor Reaffirms FY21 Guidance; Sees Adj. EPS $2.15-$2.30 vs $2.28 Est., Sales $3.65B-$3.8B vs $3.72B Est.

Outlook for Fiscal Year 2021

* Revenue to be in the range of $3.65 billion to $3.8 billion

* Net income attributable to Meritor and net income from continuing operations attributable to Meritor to be in the range of $145 million to $155 million

* Diluted earnings per share from continuing operations to be in the range of $2.00 to $2.15

* Adjusted diluted earnings per share from continuing operations to be in the range of $2.15 to $2.30

* Adjusted EBITDA margin to be in the range of 10.6 percent to 10.8 percent

* Operating cash flow to be in the range of $205 million to $220 million

* Free cash flow to be in the range of $110 million to $125 million

"We are maintaining our full-year guidance for fiscal year 2021 despite anticipated headwinds from higher steel costs and increased electrification expense as we continue to win new business," said Chris Villavarayan, president and CEO of Meritor. "Our path to successfully complete M2022 remains on-track."