Wabtec Raises FY23 Guidance: EPS $5.50 - $5.80 (From $5.15 - $5.55 Prior) Vs. $5.40 Estimate; Revenue $9.25B - $9.5B (From $8.70B - $9.00B Prior) Vs. $8.88B Estimate
Portfolio Pulse from Benzinga Newsdesk
Wabtec has raised its FY23 guidance, with expected sales to be in a range of $9.25 billion to $9.50 billion and adjusted earnings per diluted share to be in a range of $5.50 to $5.80. The company also expects cash flow generation with operating cash flow conversion of greater than 90 percent.
July 27, 2023 | 10:38 am
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Wabtec's raised FY23 guidance is likely to be viewed positively by investors, potentially leading to an increase in the company's stock price in the short term.
Companies that raise their financial guidance are often viewed favorably by investors, as it indicates that the company is performing better than previously expected. This could lead to increased demand for the company's stock, potentially driving up the stock price in the short term.
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