Longbow Research Downgrades Wabtec (WAB) to Neutral
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Wabtec Reports 3Q Results, Updates Guidance; Modifies Terms For Acquisition of Faiveley Transport
October 25, 2016 8:01 AM EDTWILMERDING, Pa., Oct. 25, 2016 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE: WAB) today reported results for the 2016 third quarter, updated 2016 full-year guidance and announced modified terms for its acquisition of Faiveley Transport.
2016 Third Quarter Results     Â
Third quarter sales were $676 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... More