Wabtec: Q1 Earnings Snapshot

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PITTSBURGH (AP) — PITTSBURGH (AP) — Westinghouse Air Brake Technologies Corp. (WAB) on Wednesday reported first-quarter net income of $272 million.

The Pittsburgh-based company said it had profit of $1.53 per share. Earnings, adjusted for amortization costs and restructuring costs, were $1.89 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.

The maker of parts for locomotives, subways and buses posted revenue of $2.5 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $2.35 billion.

Wabtec expects full-year earnings in the range of $7 to $7.40 per share, with revenue in the range of $10.25 billion to $10.55 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WAB at https://www.zacks.com/ap/WAB