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Westinghouse Air Brake Technologies Corporation - WAB STOCK NEWS

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Wabtec Corporation, headquartered at 1001 Airbrake Ave, Wilmerding, PA 15148, is a leading provider of value-added, technology-based products and services primarily for the freight rail and passenger transit industries. With a diversified portfolio, Wabtec also operates in the mining, marine, and industrial markets.

The company operates through two main segments: Freight and Transit. The Freight segment is the primary revenue driver, focusing on manufacturing, modernizing, and providing aftermarket parts and services for locomotives. Additional activities include supplying components for both new and existing freight cars, building new commuter locomotives, and offering rail control and infrastructure products such as electronics, positive train control equipment, and signal design and engineering services.

Wabtec's Transit segment complements its freight operations by delivering a broad range of products and services for passenger transit systems. This includes providing components and systems for passenger rail vehicles and offering comprehensive services and solutions to keep these systems running smoothly and safely.

Geographically, the majority of Wabtec's revenue is generated from the United States, although the company's products and services have a significant global footprint. Recent achievements include advancements in locomotive technology, strategic partnerships with major rail operators, and expansion into emerging markets.

Financially, Wabtec continues to exhibit robust performance with consistent revenue growth driven by strong demand in both the Freight and Transit segments. The company is well-positioned for future growth with ongoing investments in innovation and sustainability initiatives, ensuring that it remains at the forefront of the transportation industry.

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Wabtec (NYSE: WAB) reported strong Q2 2024 results, with GAAP earnings per diluted share up 54.7% to $1.64 and adjusted earnings per diluted share up 39.0% to $1.96. Sales grew 9.8% to $2.64 billion, driven by growth in both Freight and Transit segments. The company's GAAP operating margin improved to 16.3%, while adjusted operating margin increased by 2.9 points to 19.3%. Cash from operations was $235 million. Wabtec raised and tightened its 2024 adjusted EPS guidance to $7.20 to $7.50, representing a 24.2% increase from 2023 at the midpoint. The company's 12-month backlog stands at $7.33 billion, up 1.6% year-over-year, providing strong visibility for future growth.

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Wabtec (NYSE: WAB) has announced a regular quarterly common dividend of 20 cents per share. The dividend will be payable on August 28, 2024, to shareholders of record as of August 14, 2024. This announcement demonstrates Wabtec's commitment to returning value to its shareholders through consistent dividend payments. The declaration of a regular dividend can be seen as a positive sign of the company's financial stability and confidence in its future performance.

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Wabtec (NYSE: WAB) has announced that it will release its second-quarter 2024 financial results on July 24, 2024, before the U.S. financial markets open. The company will hold a conference call at 8:30 a.m. ET on the same day to discuss the results with analysts and investors. Interested parties can listen to the live webcast by visiting Wabtec’s website and navigating to the 'Events & Presentations' section under 'Investor Relations'. An audio replay of the call will also be available by dialing 1-877-344-7529 or 1-412-317-0088 with the access code 1950853.

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Wabtec 's (NYSE: WAB) Green Friction braking technology is now set to begin commercial operations on the RER A rail line in Paris. This initiative, in collaboration with Île-de-France Mobilités (IDFM) and RATP, aims to improve air quality in rail tunnels by reducing braking particle emissions by up to 90%. The Green Friction brake linings will be installed on all MI09 trains servicing over one million daily passengers. Extensive testing over a year and one million kilometers has shown significant emission reductions without affecting safety or performance. Philippe Nogues-Cubelles, Wabtec's VP of Friction, highlighted the global challenge of particulate emissions and emphasized Wabtec's unique, cost-effective solution. Developed in 2019, Green Friction is designed to meet stringent air pollution standards, garnering interest from metro networks across France, Europe, and Asia.

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Wabtec (NYSE: WAB) announced that its Board of Directors has declared a regular quarterly common dividend of 20 cents per share. This dividend will be payable on June 11, 2024, to shareholders on record as of May 28, 2024.

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Wabtec reported strong first quarter 2024 results with GAAP earnings per share of $1.53, up 64.5%, and adjusted earnings per share of $1.89, up 47.7%. Sales grew by 13.8% to $2.50 billion. The company raised its full-year guidance for 2024, expecting adjusted EPS between $7.00 to $7.40, a 21.6% increase at the mid-point from 2023. Wabtec's President and CEO highlighted the momentum, increased earnings, and strong orders pipeline for profitable growth ahead.
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Wabtec (NYSE: WAB) has secured a digital solutions agreement with Australian Rail Track (ARTC) to address the interoperability of rail systems in Australia. The collaboration aims to develop an interoperability standard between ARTC's Advanced Train Management System (ATMS) and European Rail Traffic Management System (ETCS) Level 2, enhancing safety and competitiveness in Australia's national rail network.
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Wabtec (NYSE: WAB) will release its 2024 first quarter results on April 24, 2024, followed by a conference call with analysts and investors. The call can be accessed through the company's website or by phone for an audio replay.
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Wabtec Corporation appoints Kyra Yates as Vice President of Investor Relations, succeeding Kristine Kubacki. Yates brings extensive financial and operational experience to communicate the company's vision, strategy, and financial performance to shareholders and the financial community.
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Wabtec (WAB) launches Shuttlewagon Commander NXT, a next-gen railcar mover offering improved performance and efficiency. The NXT series features advanced technology like ShuttleLaunch, narrow frame, and dual-rail wheel design for enhanced navigation in challenging terrains. With tractive efforts from 26,000 lbs to 41,300 lbs, the Commander NXT caters to diverse operational needs, marking a significant advancement in the railcar moving industry.
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FAQ

What does Wabtec Corporation specialize in?

Wabtec specializes in technology-based products and services for the freight rail and passenger transit industries, as well as the mining, marine, and industrial markets.

Where is Wabtec Corporation headquartered?

Wabtec is headquartered at 1001 Airbrake Ave, Wilmerding, PA 15148.

Which segment generates the most revenue for Wabtec?

The Freight segment generates the most revenue for Wabtec.

What are the main services offered by Wabtec's Freight segment?

The Freight segment manufactures and modernizes locomotives, provides aftermarket parts and services, supplies components for freight cars, builds commuter locomotives, and offers rail control and infrastructure products.

Does Wabtec operate globally?

Yes, while Wabtec generates most of its revenue from the United States, it has a significant global presence.

What kind of products does Wabtec's Transit segment provide?

Wabtec's Transit segment provides components and systems for passenger rail vehicles and offers services and solutions to maintain these systems.

How is Wabtec positioned for future growth?

Wabtec is well-positioned for future growth with ongoing investments in innovation and sustainability initiatives.

What recent achievements has Wabtec made?

Recent achievements include advancements in locomotive technology, strategic partnerships, and expansion into emerging markets.

What industries, apart from rail, does Wabtec operate in?

Apart from the rail industry, Wabtec operates in the mining, marine, and industrial markets.

What is a key aspect of Wabtec's financial performance?

Wabtec demonstrates robust performance with consistent revenue growth driven by strong demand in both its Freight and Transit segments.

Westinghouse Air Brake Technologies Corporation

NYSE:WAB

WAB Rankings

WAB Stock Data

29.70B
176.39M
1.03%
94.26%
1.07%
Railroad Rolling Stock Manufacturing
Manufacturing
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United States of America
PITTSBURGH