Wabtec: 2Q Earnings Snapshot
WILMERDING, Pa. (AP) _ Westinghouse Air Brake Technologies Corp. (WAB) on Tuesday reported second-quarter profit of $104.2 million.
The Wilmerding, Pennsylvania-based company said it had profit of 54 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.06 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The maker of parts for locomotives, subways and buses posted revenue of $2.24 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $2.26 billion.
Wabtec expects full-year earnings in the range of $4.10 to $4.20 per share, with revenue expected to be $8.3 billion.
Wabtec shares have risen 1% since the beginning of the year. The stock has dropped 35% in the last 12 months.