Rail equipment company Westinghouse Air Brake Technologies (NYSE:WAB) will be reporting results this Wednesday morning. Here’s what you need to know.
Wabtec missed analysts’ revenue expectations by 2.5% last quarter, reporting revenues of $2.71 billion, up 2.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ organic revenue estimates.
Is Wabtec a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Wabtec’s revenue to grow 8% year on year to $2.88 billion, improving from the 4.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.28 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Wabtec has missed Wall Street’s revenue estimates four times over the last two years.
With Wabtec being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for heavy machinery stocks. However, investors in the segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Wabtec’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $228.20 (compared to the current share price of $196.12).
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