Research Desk Line-up: Trinity Industries Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 3, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Westinghouse Air Brake Technologies Corp. (NYSE: WAB) ("Wabtec"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=WAB, following the Company's reporting of its financial results on July 25, 2017, for Q2 FY17. The Company reported a 29% y-o-y increase in sale in Q2 FY17 and a $114 million income from operations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Railroads industry. Pro-TD has currently selected Trinity Industries, Inc. (NYSE: TRN) for due-diligence and potential coverage as the Company announced on July 25, 2017, its earnings results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Trinity Industries when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on WAB; also brushing on TRN. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=WAB

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Earnings Reviewed

Wabtec generated a net sale of $932.3 million for Q2 FY17 compared to $723.6 million for Q2 FY16, noting y-o-y increase of 28.8% as higher sales in the Transit Group more than offset lower sales in the Freight Group.

The Company reported gross profit of $274 million for Q2 FY17 compared to $237.4 million for Q2 FY16; noting an increase of 15.4% y-o-y. Operating income was $113.7 million for Q2 FY17 compared to $133.3 million for Q2 FY16; a decrease of 14% y-o-y. The Company's net interest and other expense was $17 million, reflecting a higher debt balance mainly due to the Faiveley's acquisition and a non-cash foreign exchange loss. Net interest expense included a $2 million benefit related to the prepayment of debt assumed in the Faiveley's acquisition.

The net income for Q2 FY17 was $72.2 million compared to $90.5 million in Q2 FY16, a fall of 20% y-o-y. The diluted net income attributable to Wabtec's shareholders (EPS) in Q2 FY17 was $0.75 compared to $1.00 for Q2 FY16; a decrease of 25% y-o-y.

Wabtec missed expected Q2 FY17 revenues by $77.8 million (expected $1.01 billion) and Q2 FY17 EPS by $0.14 (expected $0.89) .

Segment Information

For Q2 FY17, Wabtec's Freight group generated a net sale of $344.83 million compared to $397.1 million in Q2 FY16; a decrease of 13.1% y-o-y.

The Company's Transit Group reported net sales of $587.4 million in Q2 FY17 compared to $326.5 million in Q2 FY16; noting an increase of 79.9% y-o-y.

Cash Matters

As on June 30, 2017, Wabtec had cash of $329 million and debt of $2 billion.

In Q2 FY17, the Company's total, multi-year backlog increased 10 % to a record $4.5 billion compared to Q1 FY17. In Q2 FY17, new orders included more than $350 million for Transit projects in Europe and Australia, and more than $60 million for train control and signaling projects with the Belt Railway Co. in Chicago and the South Florida Regional Transportation Authority.

Acquisition-wise, Wabtec acquired Thermal Transfer, a manufacturer of heat exchangers for industrial markets, with sales of about $25 million; and Semvac, a manufacturer of sanitation systems for locomotives and transit vehicles, with sales of about $15 million.

Outlook

Wabtec expects modest improvement in Q3 FY17 results and a stronger Q4 FY17 with an adjusted operating margin target of approximately 15% in Q4 FY17. For the full year FY17, Wabtec updated its guidance including expected sales of about $3.85 billion and adjusted earnings per diluted share of between $3.55 and $3.70, excluding expected restructuring and transaction expenses, and noncontrolling interest related to the Faiveley's acquisition.

Stock Performance

On Wednesday, August 02, 2017, the stock closed the trading session at $73.63, slightly falling 0.28% from its previous closing price of $73.84. A total volume of 893.90 thousand shares have exchanged hands, which was higher than the 3-month average volume of 855.42 thousand shares. Wabtec's stock price advanced 8.18% in the previous twelve months. The stock is trading at a PE ratio of 25.91 and has a dividend yield of 0.65%. At Wednesday's closing price, the stock's net capitalization stands at $7.12 billion.

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SOURCE: Pro-Trader Daily