Wabtec raises 2024 profit forecast on strong demand in freight unit [Reuters]
Westinghouse Air Brake Technologies Corporation (WAB)
Last westinghouse air brake technologies corporation earnings: 2/18 06:58 am
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Source: Reuters
strong demand in the company's freight segment, sending its shares up 7% in premarket trading. The Pittsburgh, Pennsylvania-based company is a provider of equipment, systems and aftermarket services for freight and transit rail industries. First-quarter sales in the company's freight segment, its largest unit, jumped 17.2% to $1.82 billion compared with the previous year. Wabtec expects full-year adjusted profit in the range of $7 to $7.40 per share, compared with its previous forecast of $6.50 to $6.90 per share. "Our orders pipeline and 12-month backlog continue to be strong, which provide visibility for profitable growth ahead," CEO Rafael Santana said. The company's net sales rose 13.8% to $2.50 billion, beating Wall Street expectations of $2.40 billion, according to LSEG data. It reported an adjusted profit of $1.89 per share for the quarter ended March 31, compared with analysts' estimates of $1.49 per share. The Reuters Daily Briefing newsletter provides all the n
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WAB
Earnings
- 4/24/24 - Beat
WAB
Sec Filings
- 5/2/24 - Form 4
- 5/1/24 - Form 4
- 4/30/24 - Form 144
- WAB's page on the SEC website