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NEW YORK -On Wednesday Wabtec Corporation (NYSE:WAB) reported first quarter earnings that surpassed analyst expectations and raised its full-year guidance.
The positive earnings report and improved outlook drove Wabtec shares up 1.89% in premarket trading following the announcement.
The rail equipment and services provider posted adjusted earnings per share of $2.28, beating the consensus estimate of $2.03. Revenue came in at $2.61 billion, in line with analyst projections.
Wabtec’s first quarter sales increased 4.5% year-over-year, driven by growth in both its Freight and Transit segments. The company reported a 20.6% jump in adjusted earnings per share compared to the same period last year.
"The Wabtec team has started the year strong, delivering over 20% in earnings per share growth and highlighting the continued business momentum across both the Freight and Transit segments," said Rafael Santana, Wabtec’s President and CEO.
The company raised its full-year 2025 adjusted earnings per share guidance to a range of $8.35 to $8.95, up from its previous outlook and above the $8.54 consensus estimate. Wabtec maintained its revenue guidance of $10.725 billion to $11.025 billion for the year.
Wabtec’s order backlog stood at $22.3 billion at the end of the quarter, up 1% from the prior year period. The company returned $141 million to shareholders through dividends and share repurchases during the quarter.
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