By Roshan Fernandez
Shares of Westinghouse Air Brake Technologies, or Wabtec, climbed after the company raised full-year earnings-per-share guidance and posted higher net income and revenue for its first quarter.
Shares of the transport-technology company rose 8.5% to $186.34. The stock is down 1.7% year to date.
The Pittsburgh-based company on Wednesday reported net income attributable to Wabtec shareholders of $322 million, or $1.88 a share, for the three months ended March 31, compared with $272 million, or $1.53 a share, in the same quarter a year earlier.
Adjusting for one-time items, earnings per share were $2.28, above the $2.03 that analysts polled by FactSet were projecting.
Revenue increased to $2.61 billion, roughly on par with analysts' estimates. The company reported sales of $2.5 billion in the year-earlier quarter.
The company increased the midpoint for its 2025 guidance for adjusted earnings per share and widened the range to between $8.35 and $8.95. It attributed the shift to economic volatility and uncertainty anticipated for the rest of the year. Its full-year revenue guidance remains unchanged at about $10.73 billion to $11.03 billion.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
(END) Dow Jones Newswires
April 23, 2025 11:38 ET (15:38 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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