By Emily Dattilo
Shares of Wabtec were tumbling after the railroad-equipment maker reported disappointing quarterly earnings and guidance.
Wabtec stock fell 11% to $186 on Wednesday, putting it on track for its largest daily percentage decrease in nearly five years, according to Dow Jones Market Data. It also the worst performer in the S&P 500 on Wednesday.
For its fourth quarter, the company reported adjusted earnings of $1.68 per share, missing Wall Street's call for $1.73, according to FactSet. Sales of $2.58 billion were below the consensus estimate for $2.62 billion.
For 2025, the company forecast sales between $10.725 billion and $11.025 billion and adjusted earnings between $8.35 and $8.75 per share. Analysts had penciled in sales of $11.03 billion and earnings of $8.63.
The company's board increased the quarterly dividend by 25% and said it increased the share buyback authorization by $1 billion in December.
Write to Emily Dattilo at emily.dattilo@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 12, 2025 11:07 ET (16:07 GMT)
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