Wabtec (WAB) Tops Q1 EPS by 12c; Affirms Outlook

Wabtec (NYSE: WAB) reported Q1 EPS of $0.94, $0.12 better than the analyst estimate of $0.82. Revenue for the quarter came in at $916 million versus the consensus estimate of $986.9 million.

Also today, Wabtec affirmed its 2017 financial guidance, with revenues expected to be about $4.1 billion and adjusted earnings per diluted share expected to be between $3.95 and $4.15 excluding expected restructuring and transaction expenses, and non-controlling interest related to the Faiveley acquisition. Due to the ramp up of projects already in backlog and the timing of synergies from the Faiveley acquisition, the company expects its quarterly results to improve sequentially during the rest of the year. Wabtec estimates synergies from the acquisition to be about $15 million to $20 million in 2017, with long-term synergies expected to exceed $50 million.

For earnings history and earnings-related data on Wabtec (WAB) click here.

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