Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Wabtec Earnings Rise as Investors Sift Ge Deal

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Wabtec Earnings Rise as Investors Sift Ge Deal

Article excerpt

Fresh off announcing its biggest deal in its nearly 150-year history, Wabtec Corp. reported profits of $84 million, or 87 cents a share, for the three months ending June 30. The Wilmerding-based manufacturer's numbers are up from $72 million, or 75 cents a share, compared with the year-ago quarter.

Wabtec, which sells products and services to the freight and transit rail sectors, reported net sales totaled $1.1 billion, an increase of 19 percent from the second quarter of 2017.

Wabtec's profits beat the expectations of analysts surveyed by Bloomberg Intelligence by about 4 percent. Revenue soared above analysts' expectations by about 9 percent.

The financials could be good news for investors who are still parsing Wabtec's plans to merge GE Transportation, General Electric's locomotive division, with its freight operations. …

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