Wabtec Reports Solid Gains In Freight And Transit, Raises EPS Outlook Despite Slight Backlog Decline
Portfolio Pulse from Lekha Gupta
Wabtec (NYSE:WAB) reported strong Q2 FY24 results with a 9.8% Y/Y sales growth to $2.644 billion, slightly beating consensus. Despite a 1.6% Y/Y decline in backlog, the company raised its EPS outlook and reiterated its sales guidance. Wabtec shares are down 4.46% following the report.
July 24, 2024 | 3:27 pm
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POSITIVE IMPACT
IShares Environmental Infrastructure And Industrials ETF (EFRA) includes Wabtec, which reported strong Q2 FY24 results. The ETF might experience a slight positive impact due to Wabtec's performance.
EFRA holds Wabtec, which has shown strong earnings and raised its EPS outlook. This could lead to a minor positive impact on the ETF, considering its diversified portfolio.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Janus Henderson U.S. Sustainable Equity ETF (SSPX) provides exposure to Wabtec, which reported strong Q2 FY24 results. The ETF may see minor positive impact due to Wabtec's raised EPS outlook.
SSPX holds Wabtec, which reported strong earnings and raised its EPS outlook. This could positively impact the ETF, though the effect may be minor given the ETF's diversified holdings.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Wabtec reported strong Q2 FY24 results with a 9.8% Y/Y sales growth, driven by Freight and Transit segments. Despite a slight backlog decline, the company raised its EPS outlook and reiterated its sales guidance. Shares are down 4.46%.
Wabtec's strong earnings report, driven by significant growth in Freight and Transit segments, and raised EPS outlook are positive indicators. However, the slight decline in backlog and the current drop in share price suggest mixed short-term sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100