Wabtec Raises, Tightens FY24 Adj. EPS Guidance - Update

(RTTNews) - (Adds Outlook)

Wabtec Corporation (WAB) said, for fiscal 2024, the company now expects adjusted EPS in a range of $7.45 to $7.65, revised from its prior guidance range of $7.20 to $7.50. Revenue guidance range remains unchanged at $10.25 billion to $10.55 billion.

Q3 Results:

Wabtec reported third quarter net income attributable to shareholders of $283 million compared to $240 million, a year ago. GAAP earnings per share was $1.63, up 22.6% versus the third quarter of 2023. Adjusted earnings per share were $2.00, up 17.6%. Analysts on average had expected the company to earn $1.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. Third quarter sales were $2.66 billion compared to $2.55 billion, previous year. The company noted that the increased sales were driven by growth in the Freight & Transit Segments.

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