Wabco increases yearly outlook based on better-than-expected demand for automobiles

Wabco raises yearly outlook as car sales rise

NEW YORK — 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.