Wabtec Earnings: What To Look For From WAB
Rail equipment company Westinghouse Air Brake Technologies (NYSE:WAB) will be announcing earnings results tomorrow before the bell. Here’s what to expect.
Wabtec met analysts’ revenue expectations last quarter, reporting revenues of $2.64 billion, up 9.8% year on year. It was a strong quarter for the company, with full-year revenue guidance exceeding analysts’ expectations and a decent beat of analysts’ operating margin estimates.
Is Wabtec a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Wabtec’s revenue to grow 5.1% year on year to $2.68 billion, slowing from the 22.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.90 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Wabtec has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.3% on average.
With Wabtec being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for heavy machinery stocks. However, there has been positive investor sentiment in the segment, with share prices up 2.3% on average over the last month. Wabtec is up 6.8% during the same time and is heading into earnings with an average analyst price target of $187.55 (compared to the current share price of $191.43).
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