Wabtec reports first quarter 2020 results

Wabtec reports first quarter 2020 results.q1 adjusted earnings per share $0.97.q1 earnings per share $0.58.q1 sales $1.9 billion versus refinitiv ibes estimate of $2.03 billion.q1 earnings per share estimate $0.97 -- refinitiv ibes data.wabtec is withdrawing its 2020 financial guidance at this time.taking actions to reduce working capital & to cut non-essential capital spending.at this time, a majority of operations, including those in united states, continue to operate.operations most notably in china, india, and parts of europe were partially/fully impacted due to lockdowns.remains confident in long-term fundamentals.at march 31, company had cash and cash equivalents of $616 million and debt of $4.7 billion.wabtec - at march 31, total, multi-year backlog was $21.5 billion, and 12-month backlog was $5.6 billion, slightly lower than at december 31, 2019.
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