Wabtec Corp. Stock Price, News & Analysis

Wabtec (NYSE: WAB) has announced the date for its 2024 third quarter earnings release. The company will report its results on October 23, 2024, before the U.S. financial markets open. Following the release, Wabtec will host a conference call at 8:30 a.m. ET to discuss the results with analysts and investors.

Interested parties can access the call via webcast on Wabtec's website by visiting www.WabtecCorp.com and navigating to the "Events & Presentations" section under "Investor Relations". For those unable to attend the live call, an audio replay will be available by calling 1-877-344-7529 or 1-412-317-0088 and using the access code 7519289.

Wabtec (NYSE: WAB) has secured a $277 million order for Evolution Series ES43ACmi locomotives from SimFer, a joint venture among the Government of Guinea, Rio Tinto, and Chalco Iron Ore Holdings. The locomotives will support rail operations for the Simandou iron ore project in Guinea. The ES43ACmi is a dual-cab locomotive with a 4,500HP Evolution Series engine, offering best-in-class fuel efficiency and meeting UIC 3A and EPA Tier 3 emission standards. This order marks a significant milestone for the Simandou project, which aims to develop the world's largest untapped reserve of high-grade iron ore, estimated at over 2 billion tonnes. The project is expected to support economic development across Guinea.

Wabtec (NYSE: WAB) reported strong Q2 2024 results, with GAAP earnings per diluted share up 54.7% to $1.64 and adjusted earnings per diluted share up 39.0% to $1.96. Sales grew 9.8% to $2.64 billion, driven by growth in both Freight and Transit segments. The company's GAAP operating margin improved to 16.3%, while adjusted operating margin increased by 2.9 points to 19.3%. Cash from operations was $235 million. Wabtec raised and tightened its 2024 adjusted EPS guidance to $7.20 to $7.50, representing a 24.2% increase from 2023 at the midpoint. The company's 12-month backlog stands at $7.33 billion, up 1.6% year-over-year, providing strong visibility for future growth.

Wabtec (NYSE: WAB) has announced a regular quarterly common dividend of 20 cents per share. The dividend will be payable on August 28, 2024, to shareholders of record as of August 14, 2024. This announcement demonstrates Wabtec's commitment to returning value to its shareholders through consistent dividend payments. The declaration of a regular dividend can be seen as a positive sign of the company's financial stability and confidence in its future performance.

Wabtec (NYSE: WAB) has announced that it will release its second-quarter 2024 financial results on July 24, 2024, before the U.S. financial markets open. The company will hold a conference call at 8:30 a.m. ET on the same day to discuss the results with analysts and investors. Interested parties can listen to the live webcast by visiting Wabtec’s website and navigating to the 'Events & Presentations' section under 'Investor Relations'. An audio replay of the call will also be available by dialing 1-877-344-7529 or 1-412-317-0088 with the access code 1950853.

Wabtec 's (NYSE: WAB) Green Friction braking technology is now set to begin commercial operations on the RER A rail line in Paris. This initiative, in collaboration with Île-de-France Mobilités (IDFM) and RATP, aims to improve air quality in rail tunnels by reducing braking particle emissions by up to 90%. The Green Friction brake linings will be installed on all MI09 trains servicing over one million daily passengers. Extensive testing over a year and one million kilometers has shown significant emission reductions without affecting safety or performance. Philippe Nogues-Cubelles, Wabtec's VP of Friction, highlighted the global challenge of particulate emissions and emphasized Wabtec's unique, cost-effective solution. Developed in 2019, Green Friction is designed to meet stringent air pollution standards, garnering interest from metro networks across France, Europe, and Asia.

Wabtec (NYSE: WAB) announced that its Board of Directors has declared a regular quarterly common dividend of 20 cents per share. This dividend will be payable on June 11, 2024, to shareholders on record as of May 28, 2024.