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Rail News: Financials

Wabtec and Harsco ring up more sales, increase income in the third quarter

Wabtec Corp. and Harsco Corp. today reported booming sales and higher income in the third quarter.

Wabtec's sales jumped 32 percent to a record $355 million compared with third-quarter 2006’s total primarily because of a strong performance by its Transit Group. Income from operations increased to 12.9 percent of sales; excluding restructuring and other charges totaling $2.7 million, income from operations climbed to 13.6 percent of sales.

Wabtec provides various components and services for locomotives, and freight and subway cars, and builds switchers and commuter locomotives.

Harsco's Minerals & Rail Technologies group reported third-quarter sales of $200 million, a 35 percent increase compared with third-quarter 2006 sales. Operating income jumped 68 percent to $42.3 million.

Harsco attributes the increases to strong performances from the four businesses within the group, including Harsco Track Technologies, which provides railway maintenance equipment and services.

Contact Progressive Railroading editorial staff.

More News from 10/24/2007