Wabtec Posts Q3 Earnings Beat With $2.83 Per Share, Revenue Misses Estimates at $3.12 Billion

Westinghouse Air Brake Technologies Corp. (WAB) on Wednesday reported third-quarter net income of $409 million, or $2.42 per share, exceeding Wall Street expectations on an adjusted basis. Adjusted earnings, excluding amortization and restructuring costs, came in at $2.83 per share, topping the average estimate of $2.72 from four analysts surveyed by Zacks Investment Research. Revenue for the period was $3.12 billion, falling short of the $3.18 billion forecast by three analysts. The Pittsburgh-based maker of parts for locomotives, subways and buses guided full-year earnings in the range of $10.85 to $11.05 per share, with revenue expected between $12.3 billion and $12.6 billion.