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) reported a strong fourth quarter for 2021, with GAAP earnings per share (EPS) of $1.02, a 121.7% increase year-over-year, and adjusted EPS of $1.18, up 20.4%. Sales reached $2.07 billion, reflecting a 2.4% growth compared to the previous year. The company announced a share buyback program of $750 million and raised its quarterly dividend by 25%. Full-year 2021 cash flow from operations hit a record $1.07 billion, with an operating cash flow conversion rate of 102%. Looking ahead, Wabtec expects 2022 sales between $8.30 billion and $8.60 billion.
Union Pacific Railroad (NYSE: UNP) announced plans to acquire 20 battery-electric locomotives for yard operations, marking a significant investment of over $100 million in battery technology. This initiative aims to create the world's largest carrier-owned battery-electric locomotive fleet. The locomotives will be tested in California and Nebraska for performance under varying weather conditions, targeting net zero emissions by 2050. The project is part of Union Pacific's broader Climate Action Plan, which aims for a 26% reduction in GHG emissions by 2030.
On January 28, 2022, Union Pacific Railroad (UNP) announced its purchase of 10 FLXdrive battery-electric locomotives from Wabtec Corporation (WAB). This $20 million investment is the largest of its kind by a North American railroad, aiming to enhance rail yard infrastructure and significantly cut greenhouse gas emissions. The locomotives will provide zero-emission operations and reduce carbon output by 4,000 tons annually. Union Pacific plans to reduce its GHG emissions by 26% by 2030 and achieve net zero by 2050, showcasing its commitment to environmental sustainability.
Wabtec Corporation (NYSE: WAB) has received an order from BHP Western Australia Iron Ore for two FLXdrive battery locomotives, marking a significant step towards sustainable rail operations. The FLXdrive, the world's first 100% battery-powered locomotive, is expected to help BHP reduce fuel costs and emissions by double digits. These locomotives will join BHP's existing diesel-electric fleet, creating a hybrid system that optimizes energy use through regenerative braking. This initiative underscores Wabtec's commitment to zero-emission technologies.
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.
Summary not available.
Summary not available.
Summary not available.