Revenue and earnings for locomotive builder Wabtec increased in the fourth quarter, but the company’s stock fell 11% on Wednesday after the quarterly results and a new five-year outlook came in below Wall Street expectations.
The drop in Wabtec’s (NYSE: WAB) stock price was the largest in the S&P 500.
Quarterly operating income increased 8.4%, to $334 million, as revenue rose 2.3%, to $2.58 billion. Earnings per share increased 2.5%, to $1.23.
The Pittsburgh-based company’s order backlog was $7.68 billion, a 2.6% increase compared to the previous year.
“The WABTEC team delivered a strong 2024 as demonstrated by higher orders, sales, margin expansion, Inc …
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