Westinghouse Air Brake Technologies Corporation, which operates as Wabtec Corporation (WAB - Free Report) reported fourth-quarter 2019 2019 earnings (excluding 33 cents from non-recurring items) of $1.04 per share, beating the Zacks Consensus Estimate by a penny. Moreover, the bottom line improved 7.2% year over year.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Wabtec depicted a stable picture prior to the earnings release. The Zacks Consensus Estimate for fourth-quarter earnings remained unchanged over the past 60 days.
Prior to the earnings beat in the fourth-quarter, the company delivered positive surprises in three of the trailing four quarters. The company delivered lower-than- expected earnings per share in the other quarter.
Revenues Better Than Expected
Wabtec recorded revenues of $2,368.4 million, surpassing the Zacks Consensus Estimate of $2,191.8 million. Also, revenues increased more than 100% year over year.
Key Statistics: For 2020, the company anticipates sales of $8.7 billion. Additionally, adjusted income from operations is estimated to be $1.4 billion. Adjusted EBITDA is expected to be $1.6 billion for the current year. Adjusted earnings per share are predicted in the range of $4.50 to $4.80.
Zacks Rank: Currently, Wabtec carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Wabtec earnings report later!
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Westinghouse Air Brake Technologies Corporation, which operates as Wabtec Corporation (WAB - Free Report) reported fourth-quarter 2019 2019 earnings (excluding 33 cents from non-recurring items) of $1.04 per share, beating the Zacks Consensus Estimate by a penny. Moreover, the bottom line improved 7.2% year over year.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Wabtec depicted a stable picture prior to the earnings release. The Zacks Consensus Estimate for fourth-quarter earnings remained unchanged over the past 60 days.
Prior to the earnings beat in the fourth-quarter, the company delivered positive surprises in three of the trailing four quarters. The company delivered lower-than- expected earnings per share in the other quarter.
Revenues Better Than Expected
Wabtec recorded revenues of $2,368.4 million, surpassing the Zacks Consensus Estimate of $2,191.8 million. Also, revenues increased more than 100% year over year.
Key Statistics: For 2020, the company anticipates sales of $8.7 billion. Additionally, adjusted income from operations is estimated to be $1.4 billion. Adjusted EBITDA is expected to be $1.6 billion for the current year. Adjusted earnings per share are predicted in the range of $4.50 to $4.80.
Zacks Rank: Currently, Wabtec carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Wabtec earnings report later!
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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