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Westinghouse Air Brake Technologies Corporation (WAB) - free report >>
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Wabtec (WAB) Beats Q4 Earnings Estimates
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.
Westinghouse Air Brake Technologies Corporation Price and EPS Surprise
Westinghouse Air Brake Technologies Corporation price-eps-surprise | Westinghouse Air Brake Technologies Corporation Quote
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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