Wabtec Reports 1Q Results, Affirms Adjusted Guidance
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Wabtec (WAB) Tops Q1 EPS by 18c, Revenues Beat; Affirms FY19 EPS Mid-Point Guidance Below Consensus, FY19 Revenue Guidance Above Consensus
April 25, 2019 7:33 AM EDTWabtec (NYSE: WAB) reported Q1 EPS of $1.03, $0.18 better than the analyst estimate of $0.85. Revenue for the quarter came in at $1.64 billion versus the consensus estimate of $1.48 billion.
2019 First Quarter Consolidated Results
GAAP sales were $1.59 billion; adjusted sales were $1.64 billion including accounting policy harmonization. The increase compared to the year-ago quarter resulted mainly from sales from GE Transportation.Income from operations was $67 million and adjusted income from operations was $220 million (13.4% of adjusted sales). Adjusted income from operations excluded pre-tax expenses of $153 million related to the GE Transportation merger, as follows: $80 million for one-time,... More