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Wabtec Narrows Full-year Revenue, Earnings Guidance - Quick Facts

While reporting third-quarter results on Wednesday, Wabtec Corporation (WAB) tightened its 2021 sales guidance to a range of $7.90 billion to $8.05 billion, GAAP earnings per share guidance to between $2.87 to $2.97 and adjusted earnings per share to between $4.20 to $4.30. In July, the company projected 2021 sales in a range of $7.9 billion to $8.2 billion, GAAP earnings per share of $2.87 to $3.07 and adjusted earnings per share to between $4.15 to $4.35.

Analysts polled by Thomson Reuters expect the company to report profit per share of $4.26 on revenue of $8.08 billion. Analysts' estimates typically exclude special items.

For full year 2021, the company expects strong cash flow generation with operating cash flow of about $1 billion. Wabtec noted that it expects higher commodity costs and shortages of component, chip and labor to create a more challenging sales and cost environment in the fourth quarter and into 2022.

Third quarter adjusted earnings per share was $1.14, up 20.0% from a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $1.12, for the quarter. Net income to shareholders increased to $130.6 million or $0.69 per share from $128.1 million or $0.67 per share, last year.

Sales were $1.91 billion compared to $1.87 billion, last year. Analysts expected revenue of $2.08 billion, for the quarter.

Shares of Wabtec were down 3% in pre-market trade on Wednesday.

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