NEW YORK (TheStreet) -- Shares of Wabtec Corp.(WAB) - Get Report are gaining 5.01% to $83.59 on heavy trading volume Tuesday afternoon following the release of better-than-expected earnings for the 2016 first quarter.

Before today's market open, the Wilmerding, PA-based provider of equipment for the rail industry posted earnings of $1.05 per diluted share, topping analysts' estimates of $1 per share.

Revenue for the quarter was $772 million, which missed analysts' expectations of $801.2 million.

Changes in foreign exchange rates lowered sales by about $18 million during the period compared to last year, the company noted.

For 2016, Wabtec forecasts earnings per share in the range of $4.30 to $4.50. Analysts are looking for earnings of $4.34 per share.

Revenue is now expected to be "slightly down for the year," the company added.

"We continue to expect another record earnings year, even as we face challenges in some of our key markets. We are responding to these challenges with aggressive cost- and efficiency-improvement programs, while continuing to invest in growth opportunities around the world," President and CEO Raymond Betler said in a statement.

About 1.33 million of the company's shares were traded so far today compared to its average volume of 786,956 shares per day.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, growth in earnings per share and increase in net income.

The team believes its strengths outweigh the fact that the company shows weak operating cash flow.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: WAB

Image placeholder title