Yahoo Finance What To Expect From Wabtec's (WAB) Q2 Earnings
Rail equipment company Westinghouse Air Brake Technologies (NYSE:WAB) will be announcing earnings results tomorrow before the bell. Here's what to expect.
Wabtec beat analysts' revenue expectations by 4.4% last quarter, reporting revenues of $2.50 billion, up 13.8% year on year. It was a stunning quarter for the company, with an impressive beat of analysts' organic revenue and earnings estimates.
Is Wabtec a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Wabtec's revenue to grow 8.7% year on year to $2.62 billion, slowing from the 17.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.88 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Wabtec has missed Wall Street's revenue estimates twice over the last two years.
Looking at Wabtec's peers in the heavy machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Greenbrier's revenues decreased 21% year on year, missing analysts' expectations by 10.9%, and Lindsay reported a revenue decline of 15.4%, falling short of estimates by 3.6%. Greenbrier traded down 6.1% following the results while Lindsay was up 8.6%.
Read our full analysis of Greenbrier's results here and Lindsay's results here.
There has been positive sentiment among investors in the heavy machinery segment, with share prices up 6.5% on average over the last month. Wabtec is up 4.5% during the same time and is heading into earnings with an average analyst price target of $180.6 (compared to the current share price of $169.3).
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