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.
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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.
Wabtec Corporation (NYSE: WAB) has secured a significant contract to enhance passenger experience for Metra, Chicago's commuter rail system. The project will involve upgrading 200 new rail cars with advanced technology, including modern brakes, HVAC systems, and passenger access doors. The upgrade will introduce 800 double and 400 single doorways equipped with a new control unit featuring touchless buttons for improved health safety. Additionally, Wabtec's FastBrake braking system will ensure optimal stopping performance in adverse conditions, bolstering passenger safety across over 1,200 miles of the Chicago rail network.
Wabtec Corporation (NYSE: WAB) has inaugurated a new global engineering lab in Bengaluru, marking its largest facility in India. The lab spans 30,000 square feet for testing and 12,000 square feet for operations, housing over 30 custom test rigs. This facility aims to enhance rail component design and performance, aligning with Wabtec's strategy for sustainable solutions. Key figures, including Eric Gebhardt and Dr. Sujatha Narayan, emphasized its significance in product validation for global markets. Wabtec has supplied over 300 locomotives to Indian Railways and employs 2,700 people in India.
Wabtec Corporation (NYSE: WAB) will report its third quarter 2021 results on October 27, 2021, before U.S. financial markets open. A conference call for analysts and investors is scheduled for 8:30 a.m. ET the same day, which can be accessed via webcast on Wabtec's website. The company aims to provide advanced transportation solutions for rail and other industries and is pursuing a vision for a zero-emission rail system globally.