Wabtec Q1 2021 Earnings Report

Wabtec updated its 2021 sales guidance to a range of $7.7 billion to $7.9 billion, GAAP earnings per diluted share guidance to between $2.80 to $3.05 and adjusted earnings per diluted share to between $4.05 to $4.30. The adjusted guidance excludes estimated expenses for restructuring and amortization expenses. With cost actions and synergies stemming from the Wabtec and GE Transportation merger on-track, we expect to achieve a run rate savings of $250 million in 2021 as well as margin expansion through continued cost actions. For full year 2021, Wabtec expects strong cash flow generation with operating cash flow conversion greater than 90%.