Wabtec Corp.'s (WAB) first-quarter net income attributable to shareholders advanced to $59.26 million or $1.22 per share from $40.95 million or $0.85 per share in the prior year. On average, 10 analysts polled by Thomson Reuters expected earnings per share of $1.18 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly sales were $583.3 million, 28 percent higher than $455.26 million in the year-ago quarter, due to the strong growth in the Freight Group. Analysts estimated revenues of $542.56 million for the quarter.
Additionally, the company affirmed its 2012 guidance for earnings per share of about $4.80, with revenues now expected to be up about 15 percent for the year. Analysts project earnings of $4.82 per share and revenue of $2.23 billion for the full year.
by RTT Staff Writer
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