Wabtec reports results for Q3
The Wabtec Corporation has reported results for the third quarter and updated its financial guidance for 2017.
Third quarter consolidated results were: sales were $958m, a 42% increase compared to the year-ago quarter, as sales from acquisitions, mainly in the Transit Group, more than offset slightly lower organic sales; income from operations was $102m including expenses of $20m for contract adjustments and $6m for restructuring and integration actions.
Third quarter segment results were: in the Transit segment, sales increased 97% and income from operations decreased 7% compared to the year-ago third quarter; Transit sales increased by $304m, primarily due to sales from acquisitions of $290m; income from operations included expenses for contract adjustments and restructuring and integration of $18m. Excluding these expenses, adjusted income from operations increased 29%.
For more information visit www.wabtec.com
20th Nov 2017
