PITTSBURGH (AP) — PITTSBURGH (AP) — Westinghouse Air Brake Technologies Corp. (WAB) on Wednesday reported first-quarter earnings of $322 million.
The Pittsburgh-based company said it had net income of $1.88 per share. Earnings, adjusted for amortization costs and non-recurring costs, were $2.28 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.01 per share.
The maker of parts for locomotives, subways and buses posted revenue of $2.61 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $2.6 billion.
Wabtec expects full-year earnings in the range of $8.35 to $8.95 per share, with revenue in the range of $10.73 billion to $11.03 billion.
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