Westinghouse Air Brake Technologies Beats on Both Top and Bottom Lines
Westinghouse Air Brake Technologies (NYS: WAB) reported earnings on May 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Westinghouse Air Brake Technologies beat expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share grew significantly.
Gross margins dropped, operating margins increased, net margins expanded.
Westinghouse Air Brake Technologies chalked up revenue of $583.3 million. The six analysts polled by S&P Capital IQ expected revenue of $541.6 million on the same basis. GAAP reported sales were 28% higher than the prior-year quarter's $455.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.22. The six earnings estimates compiled by S&P Capital IQ anticipated $1.20 per share. GAAP EPS of $1.22 for Q1 were 44% higher than the prior-year quarter's $0.85 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 29.0%, 30 basis points worse than the prior-year quarter. Operating margin was 16.6%, 200 basis points better than the prior-year quarter. Net margin was 10.2%, 120 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $577.0 million. On the bottom line, the average EPS estimate is $1.22.
Next year's average estimate for revenue is $2.29 billion. The average EPS estimate is $4.86.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 413 members out of 425 rating the stock outperform, and 12 members rating it underperform. Among 98 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 96 give Westinghouse Air Brake Technologies a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Westinghouse Air Brake Technologies is outperform, with an average price target of $83.75.
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