Wabtec Updates 2022 Guidance

(RTTNews) - Wabtec Corp. (WAB) updated its 2022 financial guidance with sales to be in a range of $8.30 billion to $8.60 billion and adjusted earnings per diluted share to be in a range of $4.70 to $5.00, updated from previous guidance of $4.65 to $5.05. For full year 2022, Wabtec expects strong cash flow generation with operating cash flow conversion of greater than 90 percent.

Second quarter adjusted earnings per share was $1.23, up 16.0% from the same quarter a year ago. Earnings totaled $166 million compared with $125 million, a year ago. GAAP earnings per share was $0.91, up 37.9%. Revenue increased to $2.05 billion from $2.01 billion, last year.

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