ArvinMeritor Inc. boosted its outlook for the year, thanks to higher production of commercial trucks.
Troy-based ArvinMeritor said earnings for the full year will be at the high end of its estimate of $1.40 to $1.60 a share. The First Call analyst consensus estimate is $1.48 a share.
For the third quarter, which ends in June, ArvinMeritor said it expects earnings per share from continuing operations to be at the high end of its range of 60-70 cents. The consensus estimate is 61 cents.
Tuesday, ArvinMeritor said its light-vehicle-systems group won a multiyear, $162 million contract for steel wheels with an unnamed North American automaker.
In a statement, Chairman and CEO Charles "Chip" McClure said the company's sale of its North American light-vehicle replacement-parts business should be complete by the end of September.
ArvinMeritor is 13th on the Automotive News ranking of top suppliers to North American manufacturers with $3.4 billion in original equipment sales in 2004.