Wabtec (WAB) Tops Q1 EPS by 2c
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Wabtec Reports First Quarter EPS of $1.02; Affirms Full-Year EPS Guidance
April 26, 2016 7:46 AM EDTWILMERDING, Pa., April 26, 2016 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE: WAB) today reported results for the 2016 first quarter, including the following:
First quarter sales were $772 million, with higher sales in the Transit Group more than offset by lower sales in the Freight Group. Changes in foreign exchange rates reduced sales by about $18 million compared to the year-ago quarter.Income from operations was $142 million, or 18.4 percent of sales, compared to 18.1 percent in the year-ago quarter, reflecting benefits from cost-reduction initiatives.Earnings per diluted share were $1.02. Excluding expenses of about 3 cents per... More