Welcome to our dedicated page for Meritor news (Ticker: MTOR), a resource for investors and traders seeking the latest updates and insights on Meritor stock.
Meritor Inc (MTOR) delivers critical components for commercial and industrial mobility systems worldwide. This news hub provides investors and industry professionals with essential updates on the company’s strategic initiatives, product developments, and market positioning.
Access consolidated coverage of Meritor’s financial announcements, technology innovations, and operational milestones. Track press releases related to drivetrain advancements, braking system updates, and electric powertrain solutions shaping the future of commercial transportation.
Key content includes earnings reports, leadership changes, partnership announcements, and regulatory filings. Our curated selection ensures you stay informed about developments impacting Meritor’s role in defense, aftermarket services, and sustainable mobility sectors.
Bookmark this page for streamlined access to MTOR’s evolving business narrative. Return regularly to monitor how a century-old industry leader adapts to emerging technologies and global market demands.
Meritor, Inc. (NYSE: MTOR) has appointed Fazal Merchant as a Class II director, effective October 1, 2020. His term will last until the 2023 annual meeting of shareholders, expanding the board to 10 members. Merchant, who recently retired as co-CEO of Tanium, Inc., brings extensive experience from leadership roles in companies like DreamWorks and DirectTV, along with a background in finance from Ford Motor Company. CEO Jay Craig noted that Merchant's diverse expertise will enhance shareholder value.
On August 13, 2020, Meritor, Inc. (NYSE: MTOR) was honored as a 2020 PACEpilot Honoree by Automotive News for its Blue Horizon electrification solutions aimed at replacing diesel powertrains in Class 4-8 trucks and buses. This recognition underscores Meritor's commitment to innovation in the electrification market, enhancing its visibility in advanced technologies. The PACEpilot program acknowledged 11 innovations in pilot demonstration phases. Meritor's ePowertrain systems are currently under testing globally by multiple OEMs, providing an integrated solution for various commercial vehicle applications.
Meritor, Inc. (NYSE: MTOR) announced enhancements to MeritorPartsXpress.com aimed at improving the ordering process and self-service tools for customers. The updates include:
- Real-time inventory updates based on location.
- Detailed in-stock/out-of-stock messaging.
- Price and availability look-up with copy-and-paste functionality.
- 24-hour order management capabilities for users.
- Enhanced drag-and-drop features for faster ordering.
These improvements enhance user experience and help Meritor stand out in the aftermarket service sector.
Meritor, Inc. (NYSE: MTOR) recently celebrated the production of its 100-millionth brake shoe at its facility in Plainfield, Indiana, which specializes in manufacturing and remanufacturing brake components. This milestone, achieved during the COVID-19 pandemic, underscores the company's commitment to quality and stability in the commercial truck market, where it leads with nearly 50% of aftermarket brake shoe production in North America. The plant employs 250 staff members, maintaining operations to support essential transportation needs.
Meritor, Inc. (NYSE: MTOR) reported a third-quarter fiscal 2020 net loss of $36 million, or $0.50 per diluted share, due to a 56% decline in sales to $514 million, largely driven by the COVID-19 pandemic. Adjusted EBITDA fell to $7 million, with a margin of 1.4%. Negative operating cash flow of $102 million contributed to a total liquidity of $970 million. For Q4 guidance, Meritor projects sales of approximately $700 million, with a net loss of around $10 million, and expects an adjusted EBITDA margin of 6%.
Meritor, Inc. (NYSE: MTOR) announced the appointment of Hannah Lim-Johnson as the new senior vice president, chief legal officer, and corporate secretary, effective August 3, 2020. With over two decades of experience, Lim-Johnson will oversee Meritor's legal affairs, including corporate governance and regulatory compliance. Previously, she held key legal roles at Kelly Services, PSEG, and ADT Corporation. Her strong background is expected to enhance Meritor's Executive Committee, as stated by CEO Jay Craig.
Meritor will host a conference call on July 29, 2020, at 9 a.m. ET to discuss its third-quarter results for fiscal year 2020. Interested participants can join by calling (844) 412-1003 within the U.S. or (216) 562-0450 internationally. A replay will be available from 12 p.m. ET on July 29 until 12 p.m. ET on August 5. The company's financial results will be released before the call and can be accessed via meritor.com.
On June 30, 2020, Meritor, Inc. (NYSE: MTOR) announced that holders of its 7.875% Convertible Senior Notes due 2026 can convert their notes starting July 1, 2020, until September 30, 2020. Each $1,000 note can be converted into 83.3333 shares of common stock at approximately $12.00 per share. This conversion option is triggered as the stock price exceeded 120% of the conversion price in the previous 30-day trading period. The settlement will include cash for the principal amount and possibly cash, stock, or a combination for any additional value.
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