Wabtec Q3 Profit Beats Estimates

(RTTNews) - Automotive components maker Wabtec Corp. (WAB) Tuesday reported third-quarter profit that increased from last year, particularly as revenues were boosted by acquisitions. Both Profit and revenues topped analysts' expectations.

Net profit increased to $90.15 million or $0.93 per share, from $73.94 million or $0.76 per share last year.

On average, fourteen analysts polled by Thomson-Reuters estimated earnings to be $0.89. Analysts' estimates typically exclude one-time items.

Net sales grew 26 percent to $797.27 million from $631.4 million in the previous year. Analysts' projected revenues to be $750.33 million.

Looking ahead, the company expects to earn annual profit of $3.58-$3.62 per share, and to generate 18 percent more revenues for the full year.

Analysts' expect earnings of $3.55 on revenues of $2.96 billion for the year.