Thursday, Wabtec Corp. (WAB) said its third-quarter net income declined to $27.34 million or $0.57 per share from $33.17 million or $0.68 per share in the prior year period. On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share for the quarter.
Net sales for the quarter declined to $330.45 million from $396.01 million in the comparable period. Five analysts estimated revenues of $349.51 million for the quarter.
For fiscal 2009, earnings per share are now projected to be between $2.40 and $2.50 compared with its prior range of $2.35 - $2.55. Six analysts estimate earnings of $2.47 per share for fiscal 2009. Full-year revenues are now expected to be about 12% lower than 2008. Previously, the company anticipated revenues to be down about 10%.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.