Wabtec Reports 3Q Results, Updates Guidance; Affirms 2019 GAAP Cash from Operations Target
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Wabtec (WAB) Tops Q3 EPS by 2c; Provides Updated FY19 EPS/Revenue Guidance
October 31, 2019 7:03 AM EDTWabtec (NYSE: WAB) reported Q3 EPS of $1.03, $0.02 better than the analyst estimate of $1.01. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.17 billion.
2019 Third Quarter Consolidated Results
GAAP sales were $2.0 billion; adjusted sales were $2.1 billion including accounting policy harmonization. The increase compared to the year-ago quarter resulted mainly from sales from GE Transportation and higher transit sales partially offset by lower sales in freight components, electronics and unfavorable foreign exchange rates.Income from operations was $169 million (8.4% of GAAP sales) and adjusted income from operations was $317 million (15.4% of... More