Thursday, April 12, 2012

Wabtec increases 2012 earnings guidance

Written by  Luther S. Miller

Wabtec Corporation said April 12 that it expects first-quarter 2012 earnings per diluted share to be about $1.20, and has increased its 2012 full-year EPS guidance to about $4.80, based on anticipated revenue growth of about 12%. Previously, the company’s full-year guidance was for EPS of about $4.30 on revenue growth of about 10%.

Albert J. Neupaver, Wabtec's president and CEO, said: “We expect the company's financial performance in 2012 to exceed our initial guidance for several reasons: Continued strength of the global freight rail market, including demand for new freight cars and locomotives; further progress in implementing our growth strategies; and benefits from continuous improvement initiatives through the Wabtec Performance System.”

Wabtec will report first-quarter results on April 24, and it will conduct a conference call to discuss those results with analysts and investors at 10 a.m. the same day.