Wabtec (WAB) Q4 Earnings & Revenues Top Estimates, Rise Y/Y
Zacks Investment Research | Feb 17, 2020 11:12PM ET
Westinghouse Air Brake Technologies Corporation, which operates as Wabtec Corporation (NYSE:WAB) , reported fourth-quarter 2019 earnings (excluding 33 cents from non-recurring items) of $1.04 per share, beating the Zacks Consensus Estimate by a penny. Moreover, the bottom line improved 7.2% year over year. Results were aided by a strong operating performance.
Also, total sales soared more than 100% year over year to $2,368.4 million and surpassed the Zacks Consensus Estimate of $2,191.8 million as well. The substantial year-over-year increase in sales was owing to the inclusion of GE Transportation products and higher sales from the Transit segment. We remind investors that Wabtec’s merger with GE Transportation was completed in February 2019. Following this transaction, the company was included in the coveted S&P 500 Index.
Total operating expenses in the reported quarter increased in excess of 100% to $448.8 million, primarily due to 92.7% rise in selling, general and administrative expenses. Also, the operating ratio (operating expenses as a percentage of revenues) deteriorated to 18.9% from 18.2% in the prior-year period. Notably, lower the value of the metric the better.
Westinghouse Air Brake Technologies Corporation Price, Consensus and EPS Surprise
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