Why Wabtec Shares Are Moving Higher Today
Portfolio Pulse from Nabaparna Bhattacharya
Westinghouse Air Brake Technologies Corporation (Wabtec) reported a 22.5% Y/Y sales growth to $2.55 billion, beating the consensus of $2.40 billion in Q3 FY23. The growth was driven by higher Freight and Transit segment sales. Adjusted EPS of $1.70 topped the consensus of $1.46. The company raised its 2023 Adjusted EPS outlook to $5.80-$6.00 and sales to $9.5 billion-$9.7 billion. WAB shares are trading higher by 3.96% at $103.90 in the premarket session on Wednesday.
October 25, 2023 | 1:19 pm
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POSITIVE IMPACT
Wabtec reported strong Q3 FY23 results, beating consensus on sales and EPS. The company also raised its 2023 outlook, leading to a rise in its stock price.
Wabtec's strong Q3 FY23 results and raised 2023 outlook indicate a positive financial performance, which is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100