By Owen Tucker-Smith
An earnings miss from railroad technology company Wabtec sent its shares sinking Wednesday. The stock is down 9%, and is on pace for its largest percent decrease since 2021. Wabtec, also known as Westinghouse Air Brake Technologies, was the worst-performing S&P 500 stock during mid-day Wednesday trading.
-- Wabtec expects 2025 sales between $10.73 billion and $11.03 billion, a disappointment to Wall Street analysts, who expected $11.03 billion. The company said demand for its industrial components would remain stable, but noted sales headwinds in the North American railcar business.
-- The company reported adjusted earnings of $1.68 a share, missing the $1.73 a share analysts had expected. Wabtec's profit dropped from a year ago.
-- Jefferies analysts called the results "modestly under expectations." They said the company's long-term guidance was "solid" and noted that freight operating margins during the fourth quarter came in below expectations.
Wabtec shares have been mostly stable this year. They are up 22% over the past six months and 38% over the past year.
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February 12, 2025 14:23 ET (19:23 GMT)
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