PITTSBURGH (AP) — PITTSBURGH (AP) — Westinghouse Air Brake Technologies Corp. (WAB) on Wednesday reported first-quarter profit of $169 million.
On a per-share basis, the Pittsburgh-based company said it had net income of 93 cents. Earnings, adjusted for amortization costs and restructuring costs, were $1.28 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The maker of parts for locomotives, subways and buses posted revenue of $2.19 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $2.1 billion.
Wabtec expects full-year earnings in the range of $5.15 to $5.55 per share, with revenue in the range of $8.7 billion to $9 billion.
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