Wabtec reported stronger earnings with revenue and profits growing in both freight and transit segments. Operating income rose 17% to $491 million, revenue increased 8.4% to $2.89 billion, and earnings per share went up 11% to $1.81. Freight segment revenue increased by 8.4%, while transit segment revenue was up 8.2%.

The company’s 12-month backlog for the freight segment increased by 9% year-over-year, and transit’s backlog rose by 7%. Wabtec’s full-year financial outlook was raised, with estimated earnings per share increasing by 18.4% at the midpoint of its $8.85 to $9.05 range. However, executives expressed caution about the broader economy.

Wabtec attributed transit order growth to record backlogs at car builders, passenger growth in key markets like Europe, and global rail infrastructure investment. The company is encouraged by its business momentum but remains cautious due to economic uncertainty. Despite strong performance, Wabtec is navigating a volatile economic landscape.

Read more at Yahoo Finance: Freight locomotive sales power Wabtec earnings