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Wabtec 2Q21: All-Around Beat, Backlog Grows
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April 30, 2021
Wabtec 1Q21: ‘Earnings Beat, Backlog Grows Modestly’ Written by Marybeth Luczak, Executive Editor
“We are seeing continued signs of recovery happening across the global Freight and Transit rail markets,” Wabtec President and CEO Rafael Santana said during a first-quarter 2021 report. “Freight volumes and equipment utilization are gradually improving, demand for freight aftermarket services is increasing, and sustainable investment in global transit remains strong.”
Wabtec Corp. reported a “strong operational quarter” and a position of “profitable long-term growth,” due to continued signs of industry recovery, a modestly growing backlog, and its order pipeline.
The company also updated its 2021 guidance.
First-quarter earnings per diluted share were $0.59 and adjusted earnings per diluted share were $0.89, compared with the year-earlier period’s $0.58 and $0.97, respectively. Total sales c