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Why Westinghouse Air Brake Shares Are Falling Today

TheMotleyFool

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Shares of Westinghouse Air Brake Technologies (NYSE: WAB), also known as Wabtec, were trading down by as much as 10% on Thursday after the locomotive and railroad car manufacturer reported quarterly results that missed expectations. Guidance for 2021 was also lighter than analysts were looking for, but the company's long-term outlook still looks solid.

On Thursday morning, Wabtec reported adjusted fourth-quarter earnings of $0.98 per share, falling short of analysts' consensus expectations of $1.03 per share. Revenue, at $2.02 billion, was also a bit below what Wall Street had expected.

Image source: Getty Images.

Source Fool.com

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