WASHINGTON (dpa-AFX) - Wednesday, Westinghouse Air Brake Technologies Corporation (WAB), popularly known as Wabtec, announced second-quarter financial results, reporting a net income attributable to its shareholders of $395 million, or $2.33 a share, compared to $336 million, or $1.96 a share, in the prior year, mainly driven by strong revenue growth.
On an adjusted basis, net income totaled $469 million, or $2.76 per share, compared to $389 million, or $2.27 per share, in the previous year.
Net sales increased to $3,179 million from last year's $2,706 million.
Concurrently, the company raised its fiscal year 2026 outlook. The company now expects adjusted earnings of $10.60 to $10.90 per share, up 19.9 percent from the prior year. It projects revenue of $12.30 billion to $12.60 billion for the full year, up 11.5 percent from the previous year.
In the pre-market hours, WAB is trading at $268.00, up 1.70 percent on the New York Stock Exchange.
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