Wabtec up 6.66% on Better Than Expected Guidance
Wabtec (NYSE: WAB) is trading higher on the session following its guidance update this morning. The company sees Q1 EPS $1.20 vs $1.02 estimate and increased 2012 EPS guidance to About $4.80 vs $4.37 estimate.
Albert J. Neupaver, Wabtec's president and chief executive officer, said: "We expect the company's financial performance in 2012 to exceed our initial guidance for several reasons: Continued strength of the global freight rail market, including demand for new freight cars and locomotives; further progress in implementing our growth strategies; and benefits from continuous improvement initiatives through the Wabtec Performance System."
Wabtec is currently trading at $76.05, a gain of $4.75 or 6.66%
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