WAB - Why Is Wabtec Stock Gaining Today? | Benzinga
Wabtec Corporation (NYSE:WAB) shares are trading higher after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.
WAB reported first-quarter fiscal 2024 sales growth of 13.8% year-over-year to $2.497 billion, beating the consensus of $2.397 billion.
Sales growth was driven by higher sales in Freight (+17.2% Y/Y) and Transit (+5.5% Y/Y) segments.
The adjusted gross margin expanded 240 basis points to 32.9%, and the adjusted operating margin was 19.8%, up 340 basis points.
At the end of the quarter, the ...