Wabtec (NYSE: WAB) reported Q4 EPS of $1.04, $0.01 worse than the analyst estimate of $1.05. Revenue for the quarter came in at $2.4 billion versus the consensus estimate of $2.19 billion.

Rafael Santana, Wabtec’s president and chief executive officer, said: “Wabtec delivered strong results for the fourth quarter, concluding a solid year for the company. While we faced increased challenges in the North American freight market, the full year results demonstrate the strength of our portfolio through increased global scale, a more diversified business mix and significant installed base.

“Our multi-year backlog, combined with growth opportunities in services, transit and international markets puts Wabtec in a solid position to manage through the current freight rail cycle. We continue to make significant progress in our synergy and cost initiatives and expect margin expansion in both segments in 2020. We remain confident that we will exceed our synergy target of $250 million before 2022.”

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