Company expects higher sales and earnings in 2024

  • Wabtec’s 4Q sales jumped nearly 10% due to strong demand in freight and transit
  • Quarterly profit of $215 million, compared to $158 million in the same quarter last year
  • Adjusted earnings were $1.54 a share, slightly below analyst expectations
  • Quarterly sales rose to $2.53 billion, exceeding analyst projections
  • Freight segment sales increased by 7.7% to $1.8 billion
  • Transit business sales grew by 14.3% to $738 million
  • Wabtec’s 12-month backlog increased by 10% to $7.46 billion
  • Guidance for 2024: sales expected to be $10.05 billion to $10.35 billion, adjusted earnings expected to be $6.50 to $6.90 a share

Wabtec, a provider of equipment, systems, and services for the rail industry, experienced a significant increase in sales during the fourth quarter of 2023. The company’s revenue rose nearly 10% due to strong demand in both its freight and transit businesses. Wabtec reported a quarterly profit of $215 million, compared to $158 million in the same quarter last year. Adjusted earnings were $1.54 a share, slightly below analyst expectations. However, quarterly sales exceeded projections, reaching $2.53 billion. The freight segment saw a sales increase of 7.7% to $1.8 billion, driven by growth in components and services divisions. The transit business also performed well, with sales growing by 14.3% to $738 million. Wabtec ended the year with a 12-month backlog of $7.46 billion, a 10% increase. Looking ahead, the company expects sales to reach $10.05 billion to $10.35 billion in 2024, in line with analyst forecasts. Adjusted earnings are also expected to be in line with estimates, ranging from $6.50 to $6.90 a share.

Public Companies: Wabtec (WAB)
Private Companies:
Key People:

Track all markets on TradingView

Factuality Level: 8
Justification: The article provides specific financial figures and data from Wabtec’s fourth-quarter earnings report, including revenue, profit, and sales figures. It also mentions analyst projections and compares them to the actual results. The information is supported by sources such as FactSet. However, the article does not provide any analysis or context regarding the company’s performance or the industry as a whole.

Noise Level: 7
Justification: The article provides information on Wabtec’s financial performance, including its revenue, profit, and sales growth. It also mentions analyst projections and the company’s guidance for the future. However, there is no analysis or exploration of long-term trends, antifragility, or accountability. The article stays on topic and supports its claims with data and examples, but it does not provide actionable insights or solutions.

Financial Relevance: Yes
Financial Markets Impacted: Wabtec

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses Wabtec’s higher sales and profit in the last quarter of 2023. There is no mention of an extreme event.

Reported publicly: www.marketwatch.com