Welcome to our dedicated page for Wabtec news (Ticker: WAB), a resource for investors and traders seeking the latest updates and insights on Wabtec stock.
Wabtec Corporation reports developments tied to its freight rail and passenger transit businesses, including equipment, systems, digital solutions and value-added services for rail operators and related mining, marine and industrial markets. Its recurring updates cover Freight and Transit segment sales, margins, backlog, guidance, locomotive deliveries, modernization programs, aftermarket services, components, rail-control technology and passenger rail systems.
Company news also includes capital-return actions such as common dividends, completed portfolio additions such as Dellner Couplers, customer agreements for locomotive modernization, and business matters affecting rail suppliers. Coverage reflects how Wabtec combines original equipment, replacement parts, services and digital capabilities across freight locomotives, transit rolling stock and rail infrastructure.
Wabtec Corporation (NYSE: WAB) will report its 2021 fourth quarter results on February 16, 2022, before U.S. markets open. Following the release, a conference call with analysts and investors will take place at 8:30 a.m. ET. Investors can listen to the call live on Wabtec's website under the 'Events & Presentations' section. An audio replay will also be accessible by calling 1-877-344-7529 or 1-412-317-0088 (access code: 8527520). Wabtec is a leading provider of transportation solutions and has been a significant player in the rail industry for over 150 years.
Wabtec Corporation (NYSE: WAB) has secured an order from Rio Tinto for four FLXdrive battery-electric locomotives, aimed at enhancing sustainability in the Pilbara mining region of Western Australia. These 100% battery-powered locomotives are part of Rio Tinto's strategy to cut Scope 1 and 2 carbon emissions by 50% by 2030. The FLXdrive locomotives feature 7 MWh energy capacity and are expected to significantly lower fuel costs and emissions. Wabtec plans to deliver the locomotives in 2023, marking a significant step toward achieving zero-emission locomotive fleets globally.
Wabtec Corporation (NYSE: WAB) has acquired the railway friction business from MASU for approximately $34 million. This strategic move aims to expand Wabtec's brake product portfolio and enhance its position in the railway friction market. The acquisition follows necessary regulatory approvals and aligns with Wabtec's growth strategy to develop innovative and scalable products. It will bolster Wabtec’s manufacturing capabilities in India and create new opportunities for regional and international expansion.
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Wabtec has signed a contract with the Egyptian National Railways to supply 100 ES30ACi Evolution Series locomotives and a multi-year service agreement. This deal, funded by the European Bank for Reconstruction and Development, supports Egypt's modernization of its rail infrastructure. The locomotives are designed for fuel efficiency and high performance in extreme conditions. With this purchase, Wabtec will have over 300 locomotives in ENR's fleet, emphasizing the company's long-standing partnership with Egypt.
Itus Digital and Wabtec have announced a strategic partnership to provide Asset Performance Management (APM) solutions tailored for the mining industry. This collaboration integrates Itus's APM platform with Wabtec's expertise in mining equipment, aiming to enhance production predictability, maintenance optimization, and reduce operational risks.
The partnership seeks to address cost volatility in the mining sector by enabling real-time equipment health management and proactive actions to mitigate failure risks, thus maximizing asset utilization for improved business outcomes.
Wabtec Corporation reported a third-quarter GAAP EPS of $0.69, a 3.0% increase from the previous year, with adjusted EPS rising 20.0% to $1.14. Sales grew by 2.2% to $1.91 billion, driven by Freight Services and the Nordco acquisition, despite supply chain disruptions affecting results. Cash flow from operations surged 66% year-to-date to $759 million, with a strong cash conversion rate of 103%. The company achieved $250 million in run-rate synergies ahead of schedule. Wabtec narrowed its full-year revenue guidance to $7.90-$8.05 billion, anticipating challenges from rising commodity costs and labor shortages.
Wabtec Corporation (NYSE: WAB) has declared a regular quarterly common dividend of 12 cents per share. This dividend will be payable on November 29, 2021, to shareholders on record as of November 15, 2021. Wabtec continues to position itself as a leader in transportation solutions, focusing on enhancing freight and transit rail systems while aiming for a zero-emission rail system. The company has a long-standing history of over 150 years in the rail industry.