WAB Stock Recent News
WAB LATEST HEADLINES
Westinghouse Air Brake Technologies Corporation. (NYSE:WAB ) Q3 2023 Earnings Conference Call October 25, 2023 8:30 AM ET Company Participants Kristine Kubacki - VP, IR Rafael Santana - CEO, President & Director John Olin - EVP & CFO Conference Call Participants Justin Long - Stephens Jerry Revich - Goldman Sachs Nathan Ho - Bank of America Ivan Yi - Wolfe Research Matthew Elkott - TD Cowen Saree Boroditsky - Jefferies Robert Wertheimer - Melius Research Steve Barger - KeyBanc Capital Markets Operator Good morning, and welcome to Wabtec Corporation Third Quarter 2023 Earnings Conference Call.
Westinghouse Air Brake Technologies (WAB) came out with quarterly earnings of $1.70 per share, beating the Zacks Consensus Estimate of $1.46 per share. This compares to earnings of $1.22 per share a year ago.
Westinghouse Air Brake Technologies Corp. is a global tech-driven solutions provider for freight rail and public transit. The company's financials show a market value of ~$19.04 billion and a Return on Invested Capital of 5%. Wabtec strategically utilized acquisitions, including the purchase of GE Transportation, to drive growth and expand its market presence.
GATX expects current-year earnings to be at the upper end of or modestly exceed the previously announced guidance range of $6.50-$6.90 per diluted share.
Wabtec (WAB) raises its 2023 sales view in the range of $9.25-$9.50 billion (prior view: $8.7-$9 billion).
The Zacks Industry Rank for the Transportation Equipment & Leasing industry paints a rosy picture. WAB, TRTN and GATX are well-positioned to make the most of the bullish scenario.
Wabtec (WAB) raises its 2023 sales view in the range of $9.25-$9.50 billion (prior view: $8.7-$9 billion).
Wabtec (WAB) second-quarter 2023 earnings benefit from higher sales.
Westinghouse Air Brake Technologies (WAB) came out with quarterly earnings of $1.41 per share, beating the Zacks Consensus Estimate of $1.35 per share. This compares to earnings of $1.23 per share a year ago.
Westinghouse Air Brake Technologies Corporation has seen steady continuation of sales and earnings growth. The company continues to benefit from long-term tailwinds, accompanied by occasional bolt-on dealmaking. I like this strategy, although the current valuations look largely fair.