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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.