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) received an unsolicited mini-tender offer from TRC Capital Investment Corporation to purchase up to two million shares at $59.25 each, which is 4.53% lower than Wabtec's last closing price of $62.06. Wabtec disassociates from this offer and advises shareholders against tendering their shares, highlighting that the offer price is below market value and lacks regulatory protections found in standard tender offers. Shareholders are encouraged to consult with financial advisors regarding this offer, which expires on November 24, 2020.
Wabtec Corporation (NYSE: WAB) reported Q3 2020 earnings of $0.67 per diluted share, down from $0.48 a year earlier. Adjusted earnings fell to $0.95 compared to $1.10 year-over-year. The company updated its full-year sales guidance to $7.5-$7.6 billion and adjusted EPS to $3.75-$3.85. Despite a 7% decline in Freight segment sales attributed to COVID-19 disruptions, the company generated $230 million in cash from operations, up from $124 million last year. Wabtec's backlog remains strong at $21.4 billion. The firm anticipates continued cash flow and operational recovery.
Wabtec Corporation (NYSE: WAB) has appointed Nicole Theophilus as Executive Vice President and Chief Human Resources Officer, effective immediately. She takes over from Scott Wahlstrom, who is retiring after nearly 30 years. Theophilus brings over 20 years of HR and legal experience, previously serving at ConAgra and West Corporation. Her focus will be on talent management and organizational culture, crucial for aligning with Wabtec's growth strategy. CEO Rafael Santana expressed confidence in her abilities to enhance employee advocacy and drive sustainable transportation solutions.
Wabtec Corporation (NYSE: WAB) has declared a quarterly common dividend of 12 cents per share. This dividend will be paid on November 27, 2020 to shareholders on record as of November 13, 2020. Wabtec is a global leader in rail equipment, systems, and services, with a strong emphasis on innovation and digital solutions in the freight and transit rail sectors. The company aims to enhance performance and create sustainable transportation solutions.
Wabtec Corporation (NYSE: WAB) will report its third quarter 2020 financial results on October 29, 2020, prior to the U.S. market opening. A conference call for analysts and investors will take place at 8:30 a.m. ET on the same day, which can be accessed through Wabtec's website under the Investor Relations section. Additionally, an audio replay will be available for those unable to attend the live call.