Wabtec Corp. Stock Price, News & Analysis

Wabtec Corporation (NYSE: WAB) and General Motors (NYSE: GM) are collaborating to develop GM's Ultium battery and HYDROTEC hydrogen fuel cell technologies for Wabtec locomotives. This partnership aims to promote a zero-emission future in rail transportation. Wabtec's FLXdrive locomotive can reduce carbon emissions by 30% and is the world's first fully battery-powered locomotive. The nonbinding memorandum of understanding signifies both companies' commitment to advancing sustainable rail solutions using advanced propulsion technologies.

Wabtec Corporation (NYSE: WAB) has partnered with General Motors (NYSE: GM) to develop and commercialize GM's Ultium battery technology and HYDROTEC hydrogen fuel cell systems for locomotives. This collaboration aims to advance sustainable transformation in the rail industry, targeting a zero-emission future. Wabtec’s FLXdrive locomotive, the world’s first fully battery-powered unit, can significantly reduce carbon emissions. The companies signed a nonbinding memorandum of understanding to capitalize on their expertise in technology and energy management, further validating GM's advanced battery and fuel cell systems.

Wabtec Corporation (NYSE:WAB) has priced a public offering of €500 million aggregate principal amount of 1.250% Senior Notes due 2027. The Notes will have a fixed interest rate of 1.250% annually, maturing on December 3, 2027. Wabtec plans to use the net proceeds for Eligible Green Projects under its Green Finance Framework. The offering is expected to close on June 3, 2021, subject to customary conditions. The Notes will be guaranteed by Wabtec and are set to be listed on Euronext Dublin.

Wabtec Corporation (NYSE: WAB) announced a significant milestone with its FLXdrive battery-electric locomotive, achieving over an 11% reduction in fuel consumption and greenhouse gas emissions during a three-month pilot with BNSF Railway. This success translates to savings of over 6,200 gallons of diesel and 69 tons of CO₂ emissions. The initiative, backed by a $22.6 million grant, aims to accelerate the transition to low-emission locomotives, with a second-generation FLXdrive expected to enhance fuel savings by up to 30%. Wabtec is committed to shaping a clean energy future for the rail industry.

Wabtec Corporation (NYSE: WAB) reported Q1 2021 earnings per diluted share of $0.59, with adjusted earnings at $0.89, down from $0.58 and $0.97 a year ago. Total sales were $1.8 billion, while cash from operations totaled $292 million. The company anticipates 2021 sales between $7.7 billion and $7.9 billion, with adjusted EPS guidance of $4.05 to $4.30. Despite a decrease in Freight segment sales by 9%, a 3% increase in Transit sales was noted. The backlog rose to $21.7 billion, indicating positive long-term growth prospects.

Wabtec Corporation (NYSE: WAB) announced it will report its 2021 first quarter results on April 29, 2021, before U.S. markets open. A conference call is scheduled for the same day at 8:30 a.m. ET, where analysts and investors can discuss the results. An audio replay will be available for those unable to attend the live call. Wabtec is recognized as a leading global provider of solutions in the freight and transit rail sectors, emphasizing innovation and performance in transportation solutions.

Wabtec Corporation (NYSE: WAB) has entered into a definitive agreement to acquire Nordco for $400 million. Nordco is a major supplier of rail maintenance equipment, projected to generate over $175 million in sales and $40 million in EBITDA in 2021. This acquisition aims to enhance Wabtec's portfolio and expand its market presence both domestically and internationally. The deal is expected to create over $10 million in cost synergies and is financed through cash and a revolving credit facility. Regulatory approvals have been secured, and the acquisition will be immediately accretive to Wabtec's EBITDA margin, EPS, and cash flow in 2021.

Wabtec Corporation (NYSE: WAB) has received a substantial order exceeding $70 million from Siemens Mobility for the London Underground’s Piccadilly Upgrade Program. This contract involves supplying brakes, HVAC systems, passenger information systems, and third-rail current collectors for 94 new trains. Key benefits include a weight reduction of 250 kg per train, improved energy efficiency, enhanced safety features, and modernized passenger experience. This initiative supports London's transit infrastructure and aims to create job growth while modernizing aging systems.