Wabtec Corp. Stock Price, News & Analysis

Wabtec Corporation (NYSE: WAB) has secured a €60 million contract to supply platform gates for the Marseille metro automation project, enhancing the city’s public transport network. The project involves retrofitting 29 stations with 62 platforms, introducing innovative gates that prioritize sustainability and passenger experience. Designed for rapid overnight installation, the gates feature advanced cybersecurity measures and energy-efficient options, significantly reducing operational costs. Work is set to commence in 2023, with completion anticipated by late 2026.

Wabtec (NYSE: WAB) announced that Roy Hill has purchased the FLXdrive battery-electric locomotive, the first of its kind for the mining industry. The new locomotive has a capacity of 7 MWh, significantly upgraded from its 2.4 MWh predecessor. It aims to cut fuel costs and emissions by double digits per train. Roy Hill's integration of the FLXdrive into its operations will replace a diesel locomotive, enhancing operational efficiency in extreme conditions. Wabtec continues its commitment to sustainable transportation solutions, aspiring for zero-emission technology in the rail sector.

Wabtec has signed MOUs with Carnegie Mellon University and Genesee & Wyoming to develop technologies aimed at decarbonizing freight rail transport. The collaborations focus on zero-emission battery and hydrogen strategies, enhancing safety, and improving rail network utilization across North America. Aiming to create the Freight Rail Innovation Institute, the partnership seeks to produce zero-emission locomotives and generate around 250,000 jobs by 2030. Additionally, Wabtec showcased its FLXdrive battery-electric locomotive, which has already demonstrated significant fuel savings and emissions reduction in pilot tests.

Wabtec Corporation (NYSE: WAB) has appointed John Olin as Executive Vice President and Chief Financial Officer, effective October 1, 2021. Olin succeeds Pat Dugan, who is departing the company in Q4. Rafael Santana, Wabtec's President and CEO, praised Olin's extensive finance background and leadership skills, essential for driving shareholder value. Olin's prior experience includes his role as CFO at Harley-Davidson and financial leadership positions at Kraft Foods.

The leadership change aims to leverage Wabtec's potential in the transportation sector and enhance returns for shareholders.

Wabtec Corporation (NYSE: WAB) reported Q2 2021 earnings per share of $0.66, adjusted EPS of $1.06, and total sales of $2.0 billion, up from $1.7 billion a year ago. Strong cash flow of $223 million was achieved despite pandemic disruptions. Wabtec raised its full-year guidance, expecting sales between $7.9 billion and $8.2 billion, with adjusted EPS guidance between $4.15 and $4.35. The company’s backlog grew to $5.8 billion, the highest since March 2019, supported by increased orders, while year-to-date cash from operations reached $515 million, significantly up from $229 million in 2020.

Wabtec Corporation (NYSE: WAB) has declared a regular quarterly common dividend of 12 cents per share, with payment scheduled for August 27, 2021. Shareholders of record on August 13, 2021 will receive this dividend. This announcement reflects Wabtec's commitment to returning value to its investors and showcases its ongoing financial stability and performance in the freight and transit rail industries.

Wabtec Corporation (NYSE: WAB) has appointed Byron Foster to its Board of Directors. Foster, 52, brings over 30 years of experience in the transportation industry, previously serving as President of Light Vehicle Drive Systems at Dana Incorporated and holding senior roles at Johnson Controls and Adient. His background encompasses operations, engineering, marketing, and supply chain management. Wabtec's Chairman, Al Neupaver, highlighted Foster's potential to enhance the company's leadership in the rail sector, particularly in growth and technical innovation.

Wabtec Corporation (NYSE: WAB) will announce its 2021 second quarter results before the stock market opens on July 29, 2021. A conference call is scheduled for 8:30 a.m. ET that day to discuss the results with analysts and investors. Interested parties can join the call via webcast on Wabtec's website or listen to the audio replay by calling the provided numbers.

Wabtec is a leader in transportation solutions for the rail and industrial sectors and aims for low- to zero-emission systems globally.