Wabtec Corp. on June 23, 2015 reported record results for second-quarter 2015.
Second-quarter sales were a record $847 million, 16% higher than the year-ago quarter, due to strong growth in the company’s Freight Group. Operating income was a record $156 million, or 18.4% of sales, compared to 18.1% in 2014. Earnings per diluted share were a record $1.04, a gain of 14%. Cash flow from operations in the quarter was $67 million. At June 30, 2015, the company had cash of $265 million and debt of $400 million.
Based on Wabtec’s first half results and outlook for the rest of the year, the company affirmed its 2015 guidance for earnings per diluted share of about $4.10, with revenues expected to be up about 10% for the year.
“We had another strong operating quarter, with record sales, earnings and margins, driven by the performance of our Freight Group,” said Wabtec President and CEO Raymond T. Betler. “We continue to execute our growth strategies and internal improvement initiatives, and we’re optimistic about our future growth prospects, thanks to the diversity of our business model, continued global investment in transportation projects, and the power of our Wabtec Performance System.”
