Wabtec Guides FY23 Adj. EPS In Line; Boosts Dividend 13% - Update

(RTTNews) - While reporting its financial results for the fourth quarter on Wednesday, transportation solutions provider Wabtec Corp. (WAB) initiated its adjusted earnings and sales guidance for the full-year 2023.

For fiscal 2023, the company now projects adjusted earnings in a range of $5.15 to $5.55 per share on sales between $8.70 billion to $9.00 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.42 per share on revenues of $8.69 billion for the year. Analysts' estimates typically exclude special items.

Wabtec Board of Directors also reauthorized a share buyback program up to $750 million and declared a 13 percent increase in the regular quarterly common dividend to $0.17, payable on March 10, 2023 to holders of record on February 24, 2023.