Wabtec Corp. early Tuesday reported third-quarter earnings per diluted share of $1.30, up 35% from 96 cents per share in the third quarter of 2011 and a penny above Wall Street consensus estimates. Net income attributable to Wabtec shareholders increased to $62.99 million from $46.60 million a year ago. The company’s third-quarter sales of $588 million was up 18% from the year-ago quarter.
Wabtec Corp. Tuesday said its MotivePower subsidiary has signed a $45 million contract with regional transportation authority Metrolinx to repower 11 locomotives with new engines and propulsion systems that meet significantly higher environmental standards. Deliveries are expected to begin in 2014, Wabtec said.
Wabtec Corp. said Monday it had completed its acquisition of Winco Equipamentos Ferroviarios Ltda., to expand its presence in Brazil. Wabtec expects the transaction to be accretive in the first year.
Wabtec Corp. announced Tuesday that it has signed a contract valued at about $28 million to supply electronically controlled pneumatic (ECP) braking equipment for 159 locomotives operated by Rio Tinto, a mining company in Australia. The contract covers equipment, software, test benches, and aftermarket support.
Wabtec Corp. said Thursday has signed contracts valued at about $34 million to provide components for 473 subway cars being supplied by Kawasaki Heavy Industries to MTA New York City Transit under the R-188 option order.
MTA New York City Transit on May 1 took delivery of the first of 28 new diesel-electric locomotives it is acquiring from Wabtec subsidiary MotivePower, Inc.
Wabtec Corporation said April 12 that it expects first-quarter 2012 earnings per diluted share to be about $1.20, and has increased its 2012 full-year EPS guidance to about $4.80, based on anticipated revenue growth of about 12%. Previously, the company’s full-year guidance was for EPS of about $4.30 on revenue growth of about 10%.
Crediting strength in its transit and transportation markets, Wilmerding, Pa.-based Wabtec Corp. Feb. 25 said it posted fourth-quarter net income of $31.1 million, or 64 cents per share, on sales of $405.2 million. That compares with net income of $28.7 million, or 58 cents per share, on sales of $365.2 million in the fourth quarter of 2007, or a 9% jump in fourth-quarter profit. Per-share results were short of analyst expectations of 65 cents per share on revenue of $391 million.
Wabtec Corp. says its MotivePower subsidiary has been awarded an $85 million option order to build an additional 20 MPXpress locomotives for GO Transit. The contract follows an original order for 27 locomotives, already delivered.