Wabtec Corporation finalized a $405-Million Locomotive Deal with Kazakhstan Temir Zholy and announced a $405M supply agreement with the same company, marking significant expansion in Central Asia. Despite missing Q3 sales targets, Wabtec surpassed Q3 earnings, topping EPS by 11c. The company raised guidance and reported strong Q3 2024 financial results where results beat estimates, and raised adjusted EPS view from $7.20-$7.50 to $7.45-$7.65. Wabtec reports Q3 adjusted EPS as $2.00 versus a consensus of $1.90. Various investors believe the Wabtec stock can contribute positively to their portfolios as its EPS Estimates trend northbound. Wabtec's price target was repeatedly raised by Bank of America, Stephens, and Susquehanna. Wabtec outperforms the market as the stock rose on multiple days and reached a 52-week high. The company also secured a significant $277-Million Locomotive Order from SimFer to support the Simandou Iron Ore Project and successfully commenced commercial operations of its Green Friction Technology in Paris, significantly improving air quality in rail tunnels. Despite some fluctuation, Wabtec's stock is up 2.6% since the last earnings report and has risen 29.9% YTD.
Wabtec WAB News Analytics from Mon, 04 Dec 2023 08:00:00 GMT to Sat, 26 Oct 2024 13:00:00 GMT - Rating 8 - Innovation 7 - Information 9 - Rumor 2
