Wabtec (WAB) Misses Q2 EPS by 3c; Trims Outlook
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Wabtec Reports Second Quarter Results, Updates Full-Year Guidance
July 25, 2016 6:46 AM EDTWILMERDING, Pa., July 25, 2016 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE: WAB) today reported results for the 2016 second quarter, including the following:
Second quarter sales were $724 million, with higher sales in the Transit Group more than offset by lower sales in the Freight Group.  Freight Group sales were affected mainly by lower revenues from train control-related equipment and services, a decrease in rail traffic volumes, and lower industry deliveries of new freight cars and locomotives. Changes in foreign exchange rates reduced total net sales by $9 million compared to the year-ago... More