Wabtec Raises 2024 Guidance: Expects Sales Of $10.25B-$10.55B (Prior $10.05B-$10.35B) Vs. $10.205B Consensus And Sees Adjusted EPS Of $7-$7.40 (Prior $6.50 to $6.90) Vs. $6.79 Consensus
Portfolio Pulse from Benzinga Newsdesk
Wabtec has raised its 2024 financial guidance, now expecting sales between $10.25B-$10.55B, up from the previous $10.05B-$10.35B, and adjusted EPS of $7-$7.40, increased from $6.50-$6.90. These figures surpass the consensus estimates of $10.205B in sales and $6.79 EPS. Additionally, Wabtec anticipates an operating cash flow conversion of over 90% for the full year.
April 24, 2024 | 10:36 am
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Wabtec has updated its 2024 guidance, projecting higher sales and EPS than previously anticipated, exceeding consensus estimates. The company also expects an operating cash flow conversion rate of over 90%.
Raising financial guidance typically signals a company's confidence in its future performance, which can positively influence investor sentiment and potentially lead to a short-term increase in stock price. The fact that Wabtec's new guidance exceeds consensus estimates further strengthens the positive outlook, suggesting a higher level of confidence from the company in its operational efficiency and market position.
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IMPORTANCE 90
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