01:18 PM EDT, 04/24/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph)

Westinghouse Air Brake Technologies ( WAB ) shares jumped 9.4% in recent trading Wednesday after the company reported Q1 adjusted earnings and net sales that topped estimates by analysts.

Adjusted earnings in Q1 rose to $1.89 per diluted share from $1.28 a year earlier, the company said Wednesday. Analysts polled by Capital IQ expected $1.48.

Net sales in the quarter ended March 31 rose to $2.5 billion from $2.19 billion a year earlier. Analysts expected $2.4 billion.

The company boosted its outlook for 2024 adjusted diluted EPS to $7 to $7.40 from $6.50 to $6.90 with sales forecast at $10.25 billion to $10.55 billion, up from $10.05 billion to $10.35 billion.

Analysts expected adjusted EPS of $6.78 on revenue of $10.2 billion.

Price: 162.49, Change: +14.01, Percent Change: +9.44