Meritor, Inc. MTOR posted adjusted earnings per share of 62 cents in third-quarter fiscal 2021 (ended Jun 30, 2021), handily beating the Zacks Consensus Estimate of 50 cents. Higher-than-anticipated adjusted EBITDA from the Commercial Truck & Trailer segment resulted in this outperformance.The bottom line reversed the year-ago adjusted loss of 36 cents a share. Adjusted income from continuing operations was $45 million in the reported quarter as against the loss of $26 million recorded in the prior-year period.Sales surged 98%, year over year, to $1,016 million in the fiscal third quarter. This year-over-year increase was primarily driven by higher global truck production in all markets. Moreover, the reported figure surpassed the Zacks Consensus Estimate of $965 million.Adjusted EBITDA went up to $107 million from the year-earlier quarter’s $7 million. Adjusted EBITDA margin was 10.5% compared with the prior year’s 1.4%. This upside stemmed from higher sales volumes, partially negated by higher freight, steel and electrification costs.Meritor, Inc. Price, Consensus and EPS Surprise Meritor, Inc. price-consensus-eps-surprise-chart | Meritor, Inc. QuoteSegment ResultsFor the June-end quarter, revenues in the Commercial Truck & Trailer segment amounted to $800 million, skyrocketing 138% year over year on higher global truck production in all markets. Moreover, the figure outpaced the Zacks Consensus Estimate of $697 million. The segment reported an adjusted EBITDA of $69 million, reversing the loss of $23 million witnessed in the year-ago quarter. The figure also surpassed the consensus mark of $54 million. The EBITDA margin came in at 8.6% during the quarter versus the -6.8% recorded in the prior-year quarter.Quarterly revenues in the Aftermarket & Industrial segment totaled $258 million, up 27% from the year-ago level, on higher volumes across the segment. The revenue figure, however, lagged the Zacks Consensus Estimate of $274 million. The segment’s adjusted EBITDA was $36 million, up from the $31 million witnessed in the prior-year period. The figure, however, missed the consensus mark of $41.25 million. Also, EBITDA margin edged down 1.3%, year on year, to 14% during the April-June period, primarily on elevated freight costs, which more than muted conversion on higher sales.Financial PositionIn the reported quarter, Meritor’s cash and cash equivalents summed $138 million as of Jun 30, 2021, compared with $280 million as of Jun 30, 2020. Long-term debt was $1,011 million at the end of the fiscal third quarter, down from the $1,193 million as of Jun 30, 2020.During the fiscal third quarter, Meritor’s cash provided from operating activities was $39 million, compared with the cash used for operating activities of $102 million witnessed in the year-ago quarter. Free cash flow for the fiscal third quarter was $18 million compared with the negative $114 million recorded in the same period last year. For the quarter ended Jun 30, 2021, capital expenditure was $21 million compared with the $12 million incurred in the year-ago quarter.Fiscal 2021 OutlookFor fiscal 2021, Meritor projects sales to be $3.9 billion, up from the previous forecast of $3.65-$3.8 billion. The company projects adjusted earnings per share to be $2.45, up from the earlier guidance of $2.15-$2.3. Cash flow from operations and free cash flow are anticipated to be $210 million and $115 million, respectively, compared with the earlier projection of $205-$220 million and $110-$125 million. Meritor, peers of which include Adient Plc ADNT, American Axle & Manufacturing Holdings AXL and Allison Transmission Holdings ALSN, currently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Axle & Manufacturing Holdings, Inc. (AXL): Free Stock Analysis Report Meritor, Inc. (MTOR): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report Adient PLC (ADNT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research