Wabtec: 2Q Earnings Snapshot
WILMERDING, Pa. (AP) _ Westinghouse Air Brake Technologies Corp. (WAB) on Tuesday reported second-quarter net income of $84.4 million.
The Wilmerding, Pennsylvania-based company said it had profit of 87 cents per share. Earnings, adjusted for one-time gains and costs, came to 96 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.
The maker of parts for locomotives, subways and buses posted revenue of $1.11 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.03 billion.
Wabtec expects full-year earnings to be $3.85 per share, with revenue expected to be $4.2 billion.
Wabtec shares have increased 29 percent since the beginning of the year. The stock has climbed 20 percent in the last 12 months.