Wabtec Raises 2024 Adjusted EPS Guidance to $7.00-$7.40 After Q1 Sales Rose 13.8%
Wabtec reported first-quarter 2024 sales of $2.50 billion, up 13.8%, and adjusted earnings of $1.89 per diluted share, up 47.7%. The company raised its 2024 adjusted earnings guidance to $7.00 to $7.40 per share from $6.50 to $6.90, which points to a higher earnings outlook for shareholders.
- Q1 2024 GAAP EPS was $1.53, up 64.5%; adjusted EPS was $1.89, up 47.7%
- Freight segment sales rose 17.2% to $1.82 billion; Transit segment sales rose 5.5% to $673 million
- 2024 sales guidance is $10.25 billion to $10.55 billion; adjusted EPS guidance is $7.00 to $7.40
- The company returned $211 million to shareholders through buybacks and dividends in the quarter