Westinghouse Air Brake Technologies Corp. (WAB) saw its shares soar 8.26% during intraday trading on Wednesday, following the release of its second-quarter financial results.

The rail equipment supplier reported quarterly adjusted earnings per share of $2.76, surpassing analyst estimates, while revenue of $3.18 billion also exceeded expectations. The strong performance was driven by double-digit sales growth in both its Freight and Transit segments.

Bolstered by these results, Wabtec raised its full-year revenue guidance to a range of $12.3 billion to $12.6 billion and increased its adjusted EPS forecast to $10.60-$10.90. The company also reported a significant year-over-year increase in its total backlog, providing strong visibility for future sales and contributing to investor optimism.