Wabtec Earns $1.05 per Share

This morning, Wabtec (WAB) reported Q2 earnings of $1.05 per share. That was three cents below Wall Street’s consensus.

Raymond T. Betler, Wabtec’s president and chief executive officer, said: “Our Transit business is performing well, with revenue growth, improved profitability and a strong backlog. Our Freight business, however, continues to be affected by overall rail industry conditions and the sluggish global economy. In this environment we are focused on controlling what we can by aggressively reducing costs, generating cash and investing in our growth opportunities, including acquisitions. As demonstrated by our first half operating margin of 18.4 percent and cash from operations at 14 percent of revenues, we are managing the business well in these market conditions.”

Quarterly revenues came in at $723.6 million which was below estimates of $806.48 million.

The company said they expect full-year earnings to be between $4 and $4.20 per share.

Posted by on July 25th, 2016 at 8:43 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.