Thursday, July 25, 2013

Record 2Q sales, earnings for Wabtec

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Wabtec Corp. reported record second-quarter earnings and revenue Thursday, July 25, 2013, spurred by what the company said was strong performance in its Transit Group.

Wilmerding, Pa.-based Wabtec logged record sales of $638 million, up 5% from $609 million comparable quarter in 2012. Income from operations was a record $113 million with earning per diluted share of 77 cents, up 15% from a year ago, and beating Wall Street consensus estimates of 73 cents.

Said Wabtec Chairman and CEO Albert J. Neupaver, "Through solid execution of our growth strategies and internal initiatives, we continue to outperform the global economy, which is still experiencing a slow recovery. In this environment, we will maintain our focus on these efforts, and expect to continue to benefit from our diverse business model and global investment in our key markets."