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Rail News: Financials
Wabtec Corp. projects fourth-quarter earnings of between 13 cents and 16 cents per diluted share and cash flow of about $40 million, according to a prepared statement. The company expects to release its quarterly financial results in mid-February.
After increasing earnings for a projected second-straight year, Wabtec also is predicting a stellar 2004. Based on certain assumptions — freight-car, transit-car and locomotive deliveries of about 36,000, 750 and 1,000, respectively, compared with 31,000, 650 and 750 in 2003 — the company expects 2004 sales to total about $750 million, increasing between 5 percent and 10 percent in it freight and transit groups. Wabtec also projects 2004 earnings per diluted share of about 70 cents, a 30 percent increase compared with 2003.
"Our goal is to continue to generate free cash flow in excess of net income," said Wabtec Chairman William Kassling. "We expect to use this cash for debt reduction, accretive acquisitions or other general corporate purposes."
However, Wabtec predicts its aftermarket-related businesses — which generate half the firm's sales — will face a sluggish market this year as freight and passenger railroads continue to minimize maintenance and repair costs.
1/13/2004
Rail News: Financials
Wabtec high on 2004 financial prospects despite atrophying rail-parts aftermarket
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Wabtec Corp. projects fourth-quarter earnings of between 13 cents and 16 cents per diluted share and cash flow of about $40 million, according to a prepared statement. The company expects to release its quarterly financial results in mid-February.
After increasing earnings for a projected second-straight year, Wabtec also is predicting a stellar 2004. Based on certain assumptions — freight-car, transit-car and locomotive deliveries of about 36,000, 750 and 1,000, respectively, compared with 31,000, 650 and 750 in 2003 — the company expects 2004 sales to total about $750 million, increasing between 5 percent and 10 percent in it freight and transit groups. Wabtec also projects 2004 earnings per diluted share of about 70 cents, a 30 percent increase compared with 2003.
"Our goal is to continue to generate free cash flow in excess of net income," said Wabtec Chairman William Kassling. "We expect to use this cash for debt reduction, accretive acquisitions or other general corporate purposes."
However, Wabtec predicts its aftermarket-related businesses — which generate half the firm's sales — will face a sluggish market this year as freight and passenger railroads continue to minimize maintenance and repair costs.
