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Meritor, Inc. (NYSE: MTOR) is a globally recognized leader in providing innovative drivetrain, mobility, braking, aftermarket, and electric powertrain solutions. With over 110 years of experience, Meritor is renowned for delivering superior performance, efficiency, and reliability. The company caters to a diverse range of markets, including commercial trucks, trailers, off-highway vehicles, defense, specialty sectors, and aftermarket services.
Headquartered in Troy, Michigan, Meritor operates with a robust workforce of more than 8,600 employees. These professionals are spread across manufacturing facilities, engineering centers, joint ventures, distribution centers, and global offices in 19 countries, ensuring a broad and efficient service network.
Meritor's product portfolio is extensive, featuring advanced drivetrain systems, high-performance braking solutions, and cutting-edge mobility and electric powertrain systems. The company's continuous commitment to innovation is evident in its recent achievements and ongoing projects, including significant advancements in electric powertrain technologies aimed at enhancing vehicle efficiency and sustainability.
Financially, Meritor has demonstrated consistent growth and stability, supported by strategic partnerships and collaborations. The company’s commitment to excellence has earned it a strong reputation among its global clientele. Notably, Meritor's recent integration into Cummins Inc. marks a significant milestone, poised to amplify its technological capabilities and market reach.
Meritor's dedication to quality and customer satisfaction has positioned it as a trusted supplier in the commercial vehicle and industrial markets. The company's strategic initiatives and forward-looking approach continue to drive its success and ensure its relevance in an ever-evolving industry.
Meritor reported Q1 2022 financial results, with sales of $984 million, an increase of 11% year-over-year. Net income reached $54 million, up from $32 million the previous year, due to lower interest expenses and higher sales volumes. Adjusted EBITDA was $113 million, maintaining an 11.5% margin. However, operating cash flow was negative at $21 million, primarily due to increased working capital needs. Guidance for FY 2022 remains unchanged, with expected revenues between $4.1 billion and $4.3 billion.
Meritor, Inc. (NYSE: MTOR) announced the extension of its long-term agreement with Wabash until December 31, 2026, marking their first five-year agreement. This extension ensures that Meritor's loose axles will remain standard equipment for Wabash, with options for the Meritor Tire Inflation System (MTIS™), MTA-Tec6™, MPA suspensions, and EX+™ LS air disc brakes. MTIS helps improve fuel economy, while Meritor's suspensions and brakes enhance performance and durability. The longstanding partnership continues to yield innovative trailer products.
Meritor, Inc. (NYSE: MTOR) announced an extension of its agreement with PACCAR to supply 14Xe™ ePowertrains and battery integration kits for Class 8 trucks, including Kenworth T680E and Peterbilt 579EV models. This extension reinforces the partnership's strength and the performance of Meritor's technology in real-world applications. The 14Xe ePowertrain is noted as the only integrated electric powertrain in production for Class 8 trucks in North America. This move aligns with PACCAR’s commitment to delivering advanced electrification solutions.
Meritor, Inc. (NYSE: MTOR) will host a conference call on February 3, 2022, at 9 a.m. ET to discuss its first-quarter results for fiscal year 2022. Interested participants can join by calling (844) 412-1003 or (216) 562-0450 outside the U.S. A replay will be available from 12 p.m. ET on the same day until 12 p.m. ET on February 10. Prior to the call, results will be released through PR Newswire and posted on meritor.com.
Meritor, Inc. (NYSE: MTOR) has entered a supply agreement with Beijing Foton Daimler Automotive Co. Ltd. to produce specialized axles for heavy-duty Mercedes-Benz tractors in China. This collaboration aims to enhance Meritor's presence in the Chinese on-highway market. The axles will be tailored for new heavy-duty trucks produced in Beijing, with production expected to start by the end of 2022. This partnership underscores Meritor's commitment to delivering high-quality, fuel-efficient solutions for Daimler's needs, contributing to the local manufacturing ecosystem.
Meritor, Inc. (NYSE: MTOR) announced a five-year agreement to supply its Blue Horizon™ 14Xe™ integrated ePowertrain for the all-electric Saf-T-Liner® C2 Jouley® school bus from Thomas Built Buses, starting January 2024. This marks Meritor's first electric vehicle production award with a Daimler Trucks North America brand. The collaboration aims to provide zero-emissions electric propulsion, enhancing efficiencies for school districts. The 14Xe ePowertrain is already in full production and suitable for various commercial vehicle applications across Classes 5-8.
Meritor (NYSE: MTOR) announced a collaboration with Hexagon Purus to develop hydrogen fuel-cell electric vehicles using Meritor's Blue Horizon™ 14Xe™ ePowertrains. This initiative will target two applications: a Class 8 drayage truck and a yard hauler in North America. The partnership aims for zero-emission transport, enhancing the integration of Meritor's ePowertrains into Hexagon Purus' various truck models.
Meritor's ePowertrains are designed for efficiency and adaptability across Class 5-8 vehicles.
Meritor, Inc. (NYSE: MTOR) announced the upcoming production of its 14Xe™ ePowertrain, an all-electric drive system specifically designed for Class 8 trucks in North America. The 14Xe ePowertrain, part of Meritor's Blue Horizon™ technology portfolio, aims to provide efficiency and performance with zero emissions. It has been rigorously tested in real-world conditions to ensure reliability and adaptability across various vehicle applications. Production will commence this month at the company's Asheville, North Carolina facility.
Meritor (NYSE: MTOR) has announced a strategic collaboration with BAE Systems to develop electric vehicle solutions for the Industrial and Defense markets. This partnership will integrate BAE's power management systems with Meritor's ePowertrain technology, enhancing performance and efficiency. Meritor's ePowertrain offers significant weight savings and superior space utilization. The companies aim to leverage their expertise for a compact and effective electrification solution.
Meritor, Inc. (NYSE: MTOR) hosted its virtual Strategy Day on December 7, 2021, at 10 a.m. ET. The event included a live question and answer session following presentations by key executives: Chris Villavarayan, CEO; Carl Anderson, CFO; and John Bennett, CTO. Participants were encouraged to visit the company’s Strategy Day page to join. Meritor is a leading global supplier of drivetrain, mobility, and electric powertrain solutions for commercial vehicles.
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