ArvinMeritor Raises Guidance for Fiscal Year 2008
Sep 23, 2008 1:12 PM
ArvinMeritor, Inc. announced today that it is raising its forecast for diluted earnings per share from continuing operations, before special items, to be in the range of $1.55 to $1.65, up from the top end of the previous range of $1.40 to $1.60, forecasted in the company's third-quarter earnings report.
Chip McClure, chairman, CEO and president, said, "Although we continue to operate in an uncertain economic environment, the ArvinMeritor team has executed well this year. We are pleased that we are able to improve our outlook for fiscal year 2008 despite weaker market conditions in North America and Europe."
ArvinMeritor also expects improved cash-flow performance compared to its previous guidance. In the third quarter, the company forecasted free cash flow for fiscal year 2008 to be in the range of negative $50 million to negative $100 million.
ArvinMeritor will release its fourth-quarter and fiscal-year 2008 results on Nov. 18 at 9 a.m. Eastern Time.
Other ArvinMeritor articles:
- ArvinMeritor Dedicates Facility in Monterrey, Mexico
- ArvinMeritor Earnings Up $114 Million Year-Over-Year
- ArvinMeritor expands global remanufacturing operations
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