Commercial auto parts maker Wabco Holdings Inc. on Friday raised its guidance due to better-than-expected demand worldwide.
The availability of credit has loosened, meaning businesses can buy cars and trucks more easily.
May marked the seventh straight month of year-over-year sales increases for the auto industry and demand for the electronic and mechanical products that Wabco makes is up.
The company now expects earnings in 2010 to be $1.75 to $2.05 per share, from earlier guidance of $1.40 to $1.80 per share. That excludes a fine levied on Wabco by the European Commission.
Analysts polled by Thomson Reuters, on average, predict a profit of $1.77 per share. Analyst estimates typically exclude one-time items.
Wabco has its headquarters in Brussels, Belgium. Company shares were unchanged at $33.63 Friday.
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