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TROY, Mich., Nov. 12, 2021 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced that William "Bill" Newlin, currently lead independent director of the Board, has been elected non-executive chairman, effective Dec. 31, 2021. This follows the decision by Jay Craig, currently executive chairman of the Board, to step down after more than 15 years of service to Meritor, including six years as chief executive officer. During his tenure as chief executive officer, Mr. Craig oversaw the advancement of Meritor's innovation and product portfolio, strengthened the company's financial foundation and created a collaborative and diverse organization. Mr. Craig led the execution of the company's M20

TROY, Mich., May 20, 2021 /PRNewswire/ -- Meritor, Inc. (NYSE:MTOR) today announced that it has appointed Elizabeth A. Fessenden as a Class II director, with a term expiring at the 2023 annual meeting of shareholders. Her appointment is effective on June 1, 2021 and will increase the size of the company's board of directors to 11 members. Fessenden spent more than 25 years in P&L management roles throughout her career. From 2005-2007, she served as principal at American Capital, a publicly traded, private equity company. Before joining American Capital, Fessenden spent 28 years at Alcoa, Inc., a Fortune 100 global industrial manufacturing company, where she served as president of the company

TROY, Mich., May 3, 2021 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced that Joe Mejaly has been appointed vice president of North America Aftermarket, effective May 3, 2021. Mejaly will have oversight and leadership responsibility for all aspects of the company's Aftermarket business in North America. He will report directly to Tim Bowes, senior vice president and president of Industrial and North America Aftermarket, and Electrification. Mejaly will relocate to Troy, Michigan, from his current residence in California. "Joe has enjoyed a successful 36-year career in the commercial vehicle industry, and we are fortunate that he has agreed to return to Meritor and lead our After

TROY, Mich., May 3, 2021 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced that Jim Keane has been appointed to vice president of Industrial, effective May 3, 2021. In this position, Keane is responsible for successfully executing Meritor's strategy for the global Industrial business, including Engineering, Sales, Product Strategy and Program Management. He will report to Tim Bowes, senior vice president and president of Industrial and Aftermarket North America, and Electrification. "During his 15 years with Meritor, Jim has made significant contributions to the company in engineering, product development and product strategy," Bowes said. "He brings the right blend of leadership e

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Citigroup downgraded Meritor from Buy to Neutral and set a new price target of $36.50 from $34.00 previously

RBC Capital downgraded Meritor from Outperform to Sector Perform and set a new price target of $36.50

Barclays reiterated coverage of Meritor with a rating of Equal-Weight and set a new price target of $25.00 from $28.00 previously

RBC Capital reiterated coverage of Meritor with a rating of Outperform and set a new price target of $32.00 from $29.00 previously

Citigroup upgraded Meritor from Neutral to Buy

Citigroup upgraded Meritor from Neutral to Buy and set a new price target of $34.00

B of A Securities initiated coverage of Meritor with a rating of Buy and set a new price target of $30.00

RBC Capital Mkts upgraded Meritor from Sector Perform to Outperform and set a new price target of $31.00

Nordson Corporation (NASDAQ:NDSN) today announced that Daniel Hopgood has been named executive vice president and chief financial officer, effective May 20, 2024. Mr. Hopgood succeeds Joseph Kelley, who assumed the role of Nordson's executive vice president and Industrial Precision Solutions segment leader as previously announced. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240422695443/en/Daniel Hopgood (Photo: Business Wire) Mr. Hopgood brings more than 25 years of financial and operational expertise to the role. Since 2012, he's held roles of increasing responsibility at Eaton Corporation (NYSE:ETN), a $23 billion multinat

WESTMINSTER, Colo., Sept. 1, 2023 /PRNewswire/ -- Ball Corporation (NYSE:BALL) today announced that Charles E. Baker, 66, vice president, general counsel and corporate secretary, will be retiring after a 30-year career with the company. Hannah Lim-Johnson, 51, has been named senior vice president, chief legal officer and corporate secretary, effective Sept. 18, 2023. Baker will remain with Ball to provide counsel to support the successful completion of the proposed aerospace transaction which was disclosed last month. "As part of Ball's long-term strategic succession planning, we are pleased to welcome Hannah to Ball, and on behalf of our entire team, we thank Charles for his numerous contri

TROY, Mich., Aug. 3, 2022 /PRNewswire/ -- Meritor, Inc. (the "Company") today provided notice that, pursuant to the terms of the indenture, dated September 22, 2017 (the "Indenture") governing its 3.25% Convertible Senior Notes due 2037 (the "Notes"), in connection with the closing of the transaction contemplated by the Agreement and Plan of Merger, dated as of February 21, 2022 (the "Merger Agreement"), among Cummins, Inc., Rose Newco, Inc. and the Company, the Company delivered a Notice of Fundamental Change and Execution of Supplemental Indenture (the "Fundamental Change Notice") to holders of the Notes notifying holders that a Fundamental Change, as such term is defined in the Indenture,

TROY, Mich., Aug. 2, 2022 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today reported financial results for its third fiscal quarter that ended June 30, 2022. Third-Quarter Highlights Sales of $1,212 millionNet income attributable to Meritor and net income from continuing operations attributable to Meritor of $73 millionDiluted earnings per share from continuing operations of $1.02Adjusted income from continuing operations attributable to the company of $77 million, or $1.07 of adjusted diluted earnings per shareAdjusted EBITDA of $142 million and adjusted EBITDA margin of 11.7 percentOperating cash flow was $117 millionFree cash flow was $93 millionThird-Quarter ResultsFor the third quarter

NEW YORK, Aug. 1, 2022 /PRNewswire/ -- AdaptHealth Corp. (NASD: AHCO) will replace Meritor Inc. (NYSE:MTOR) in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, August 4. S&P 500 constituent Cummins Inc. (NYSE:CMI) is acquiring Meritor in a deal expected to be completed soon pending final closing conditions. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name       Action Company Name Ticker GICS Sector August 4, 2022 S&P SmallCap 600 Addition AdaptHealth AHCO Health Care S&P SmallCap 600 Deletion Meritor MTOR Industrials For more information about S&P Dow Jones Indices, please vis

TROY, Mich., June 21, 2022 /PRNewswire/ -- Meritor, Inc. (NYSE:MTOR) today announced an online tool to streamline its 24-hour Driveshaft on Demand (DOD) program, enabling customers to quickly and efficiently identify and order replacement driveshaft products from MeritorPartsXpress.com. "At Meritor, we are committed to putting out-of-service vehicles back on the road as soon as possible," said Jeff Amalfitano, senior product manager for Meritor. "As we continue to innovate our DOD program, this new update will reduce the time it takes to report and replace customer driveshaft orders compared to the email-based submission process. Enhancing our digital footprint continues to be a priority at

First Meritor Suspension Purpose-Built for the Bus/Coach Market TROY, Mich., June 9, 2022 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced the launch of its ProTec™ Independent Front Suspension (IFS) for motorcoach applications. The new IFS MIS-20E is Meritor's first suspension specifically designed for the ride quality and heavy load requirements of motorcoaches. Based on field-proven technology, this product is Meritor's first fully integrated suspension and steering system made to be a drop-in replacement for bus and coach manufacturers. "The ProTec IFS will deliver the same level of confidence, performance and reliability for the bus and coach industry that military operators h

Top Tier Recognition for Excellence in Video TROY, Mich., June 1, 2022 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) announced that The Road Ahead, a video production created to showcase the company's 14Xe™ electric powertrain, was recognized with three gold awards in the 43rd Annual Telly Awards. The Telly Awards honor excellence in video and television across all screens and is judged by leaders from video platforms, television, streaming networks and production companies. The Road Ahead won in the following categories: Online Commercials – AutomotiveOnline Commercials – Music/JingleOnline Commercials – Use of 3D AnimationThe Road Ahead can be viewed on Meritor.com and the company's YouTube c

TROY, Mich., May 26, 2022 /PRNewswire/ -- Meritor, Inc. (NYSE:MTOR) today announced that its shareholders have voted to approve the previously announced pending acquisition by Cummins Inc. (NYSE:CMI) at a special meeting. "The strong support our shareholders have expressed for this transaction reflects the compelling value and important opportunity to shape the future of powertrain components and accelerate development of electrified power solutions for commercial vehicles," said Chris Villavarayan, CEO and president of Meritor. "We look forward to securing the remaining regulatory approvals and closing the transaction." Meritor continues to work toward completing the transaction and remains

Complementary Product Portfolio to Expand Technical Capability and Offerings TROY, Mich., May 20, 2022  /PRNewswire/ -- Meritor, Inc. (NYSE:MTOR) today announced that it has entered into an agreement with Siemens to acquire its Commercial Vehicles business for approximately €190 million in cash, adjusted for changes in working capital at closing. The transaction is expected to close by calendar year-end, subject to regulatory approvals and customary closing conditions. "The Siemens Commercial Vehicles business offers capabilities and technology that will enhance our ability to offer superior electric solutions to the global commercial vehicle market," said Chris Villavarayan, Meritor's CEO a

TROY, Mich., Aug. 2, 2022 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today reported financial results for its third fiscal quarter that ended June 30, 2022. Third-Quarter Highlights Sales of $1,212 millionNet income attributable to Meritor and net income from continuing operations attributable to Meritor of $73 millionDiluted earnings per share from continuing operations of $1.02Adjusted income from continuing operations attributable to the company of $77 million, or $1.07 of adjusted diluted earnings per shareAdjusted EBITDA of $142 million and adjusted EBITDA margin of 11.7 percentOperating cash flow was $117 millionFree cash flow was $93 millionThird-Quarter ResultsFor the third quarter

TROY, Mich., May 3, 2022 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today reported financial results for its second fiscal quarter that ended March 31, 2022. Second-Quarter Highlights Sales of $1,154 millionNet income attributable to Meritor of $62 million and net income from continuing operations attributable to Meritor of $61 millionDiluted earnings per share from continuing operations of $0.85Adjusted income from continuing operations attributable to the company of $70 million, or $0.98 of adjusted diluted earnings per shareAdjusted EBITDA of $127 million and adjusted EBITDA margin of 11.0 percentOperating cash flow was negative $17 millionFree cash flow was negative $38 millionSecond-Qu

TROY, Mich., April 19, 2022 /PRNewswire/ -- Meritor, Inc. (NYSE:MTOR) will release the company's second-quarter results for fiscal year 2022 on Tuesday, May 3, 2022. Due to the pending acquisition proposal from Cummins, Inc., Meritor will not host a conference call. The company will file its standard financial results press release. The release will be distributed through PR Newswire and posted on meritor.com.  About MeritorMeritor, Inc. is a leading global supplier of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. With more than a 110-year legacy of providing innovative products that offer superior performance, eff

TROY, Mich., Feb. 3, 2022 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today reported financial results for its first fiscal quarter that ended December 31, 2021. First-Quarter Highlights Sales of $984 million Net income attributable to Meritor and net income from continuing operations attributable to Meritor of $54 million Diluted earnings per share from continuing operations of $0.76 Adjusted income from continuing operations attributable to the company of $57 million, or $0.80 of adjusted diluted earnings per share Adjusted EBITDA of $113 million and adjusted EBITDA margin of 11.5 percent Operating cash flow was negative $21 million Free cash flow was negative $39 millionFirst-Quarter Resu

TROY, Mich., Jan. 11, 2022 /PRNewswire/ -- Meritor, Inc. (NYSE:MTOR) will host a conference call and webcast to discuss the company's first-quarter results for fiscal year 2022 on Thursday, Feb. 3 at 9 a.m. ET. To participate, call (844) 412-1003 within the U.S. or (216) 562-0450 from outside the U.S. at least 10 minutes prior to the start of the call. Please reference conference ID: 1632248 when registering. Investors can also listen to the conference call in real time or access a recording of the call after the event by visiting the investors page on meritor.com. A replay of the call will be available starting at 12 p.m. ET on Feb. 3 until 12 p.m. ET on Feb. 10 by calling (855) 859-2056 fr

TROY, Mich., Nov. 17, 2021 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced financial results for its fourth quarter and full fiscal year ending September 30, 2021. Fourth-Quarter Highlights Sales were $945 million Net income attributable to Meritor and net income from continuing operations attributable to Meritor were $62 million and $63 million, respectively Diluted earnings per share from continuing operations was $0.88 Adjusted income from continuing operations attributable to Meritor was $57 million, or $0.80 of adjusted diluted earnings per share Adjusted EBITDA was $91 million Adjusted EBITDA margin was 9.6 percentFourth-Quarter Results For the fourth quarter of fiscal year

TROY, Mich., Oct. 14, 2021 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) will host a conference call and webcast to discuss the company's fourth-quarter and full-year results for fiscal year 2021 on Wednesday, Nov. 17 at 9 a.m. ET. To participate, call (844) 412-1003 within the U.S. or (216) 562-0450 from outside the U.S. at least 10 minutes prior to the start of the call. Please reference conference ID: 2362339 when registering. Investors can also listen to the conference call in real time or access a recording of the call after the event by visiting the Investors page on meritor.com. A replay of the call will be available starting at noon ET on Nov. 17 until noon ET on Nov. 24 by calling (8

TROY, Mich., Aug. 4, 2021 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today reported financial results for its third fiscal quarter that ended June 30, 2021. Third-Quarter Highlights Sales of $1,016 million Net income attributable to Meritor and net income from continuing operations attributable to Meritor of $42 million Diluted earnings per share from continuing operations of $0.58 Adjusted income from continuing operations attributable to the company of $45 million, or $0.62 per adjusted diluted share Adjusted EBITDA of $107 million and adjusted EBITDA margin of 10.5 percent Operating cash flow of $39 million Free cash flow of $18 millionThird-Quarter Results For the third quarter of fisca

TROY, Mich., May 4, 2021 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today reported financial results for its second fiscal quarter that ended March 31, 2021. Second-Quarter Highlights Sales of $983 million Net income attributable to Meritor and net income from continuing operations attributable to Meritor of $63 million Diluted earnings per share from continuing operations of $0.86 Adjusted income from continuing operations attributable to the company of $50 million, or $0.68 per adjusted diluted share Adjusted EBITDA of $111 million and adjusted EBITDA margin of 11.3 percent Operating cash flow of $63 million Free cash flow of $47 millionChange in Non-GAAP Measures Beginning in the second

Meritor (NYSE:MTOR) reported quarterly earnings of $1.07 per share. This is a 72.58 percent increase over earnings of $0.62 per share from the same period last year. The company reported $1.21 billion in sales this quarter. This is a 19.29 percent increase over sales of $1.02 billion the same period last year.

https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20220801-1454737/1454737_6mtor.pdf

eritor, Inc. (NYSE:MTOR) today announced that its shareholders have voted to approve the previously announced pending acquisition by Cummins Inc. (NYSE:CMI) at a special meeting. "The strong support our shareholders have expressed for this transaction reflects the compelling value and important opportunity to shape the future of powertrain components and accelerate development of electrified power solutions for commercial vehicles," said Chris Villavarayan, CEO and president of Meritor. "We look forward to securing the remaining regulatory approvals and closing the transaction." Meritor continues to work toward completing the transaction and remains focused on supporting its customers arou

Meritor, Inc. (NYSE:MTOR) today announced that it has entered into an agreement with Siemens to acquire its Commercial Vehicles business for approximately €190 million in cash, adjusted for changes in working capital at closing. The transaction is expected to close by calendar year-end, subject to regulatory approvals and customary closing conditions. "The Siemens Commercial Vehicles business offers capabilities and technology that will enhance our ability to offer superior electric solutions to the global commercial vehicle market," said Chris Villavarayan, Meritor's CEO and president. "As the urgency grows for zero carbon solutions, this highly talented and skilled team, and leading elect

According to Benzinga Pro, during Q2, Meritor (NYSE:MTOR) earned $65.00 million, a 12.07% increase from the preceding quarter. Meritor also posted a total of $1.15 billion in sales, a 17.28% increase since Q1. In Q1, Meritor earned $58.00 million, whereas sales reached $984.00 million. What Is Return On Capital Employed? Return on Capital Employed is a measure of yearly pre-tax profit relative to capital employed by a business. Changes in earnings and sales indicate shifts in a company's ROCE. A higher ROCE is generally representative of successful growth of a company and is a sign of higher earnings per share in the future. A low or negative ROCE suggests the opposite. In Q2, Meritor poste

Meritor, Inc. (NYSE:MTOR) today announced production milestones for its 14Xe™ ePowertrain. Nearly 300 electric powertrains have now been produced and assembled in Meritor's Asheville and Forest City, North Carolina facilities and approximately 350,000 miles have been logged on commercial vehicles equipped with the company's 14Xe single or tandem electric powertrain. "Meritor's 14Xe ePowertrain is adaptable to customer application requirements and delivers cutting edge, zero emissions transportation. We're proud of the milestones we're achieving to offer this best-in-class, premium solution to the market as the electric evolution accelerates," said Tim Bowes, senior vice president and presi

  Meritor (NYSE:MTOR) reported its Q2 earnings results on Tuesday, May 3, 2022 at 06:45 AM. Here's what investors need to know about the announcement. Earnings Meritor beat estimated earnings by 10.11%, reporting an EPS of $0.98 versus an estimate of $0.89. Revenue was up $171.00 million from the same period last year. Past Earnings Performance Last quarter the company beat on EPS by $0.18 which was followed by a 0.9% increase in the share price the next day. Here's a look at Meritor's past performance:   Quarter Q1 2022 Q4 2021 Q3 2021 Q2 2021 EPS Estimate 0.62 0.49 0.50 0.61 EPS Actual 0.80 0.80 0.62 0.68

Meritor (NYSE:MTOR) reported quarterly earnings of $0.98 per share which beat the analyst consensus estimate of $0.89 by 10.11 percent. This is a 44.12 percent increase over earnings of $0.68 per share from the same period last year. The company reported quarterly sales of $1.15 billion which beat the analyst consensus estimate of $1.05 billion by 9.90 percent. This is a 17.40 percent increase over sales of $983.00 million the same period last year.

  Companies Reporting Before The Bell • Kiniksa Pharmaceuticals (NASDAQ:KNSA) is projected to report earnings for its first quarter. • Great Lakes Dredge & Dock (NASDAQ:GLDD) is likely to report quarterly earnings at $0.16 per share on revenue of $170.53 million. • Enel Chile (NYSE:ENIC) is expected to report quarterly earnings at $82.88 per share on revenue of $994.35 million. • Paramount Global (NASDAQ:PARAA) is likely to report quarterly earnings at $0.52 per share on revenue of $7.38 billion. • Triton International (NYSE:TRTN) is likely to report quarterly earnings at $2.63 per share on revenue of $419.07 million. • Colliers Intl Gr (NASDAQ:CIGI) is likely to report quarterly earn

Meritor, Inc. (NYSE: MTOR) today announced a new standard position agreement with Extreme Trailers, LLC. Under the three-year agreement, Meritor will supply MTA™ and MTA-Tec6™ suspensions with our latest generation EX+™ LS single piston air disc brakes, as well as the Meritor Tire Inflation System (MTIS™). "Extreme Trailers was integral to our development process and a key partner in helping launch our MTA-Tec6. This suspension is another example of Meritor's commitment to innovation and collaboration with our customers to deliver value-added solutions for the trailer market," said Saad Malik, general manager, Front Drivetrain and Trailer for Meritor. "We are pleased to enter into this agr