Wabtec Corp. Stock Price, News & Analysis

Wabtec Corporation (NYSE: WAB) announced leadership changes aimed at enhancing growth in its Services and Transit sectors and advancing sustainability initiatives. Effective April 3, Pascal Schweitzer will become President of Wabtec Transit, transitioning from Global Freight Services. Lilian Leroux will take on the role of Chief Strategy and Sustainability Officer, focusing on strategic and sustainability objectives. Alicia Hammersmith will assume the position of President of Global Freight Services. CEO Rafael Santana emphasizes that these strategic appointments are critical for driving profitable growth and delivering value to stakeholders.

Wabtec Corporation (NYSE: WAB) reported a fourth quarter sales growth of 11.2% to $2.31 billion, with adjusted earnings per share increasing 10.2% to $1.30. Despite a 15.7% decline in GAAP EPS to $0.86, operating cash flow surged 30.6% year-over-year to $410 million. Wabtec maintains a strong backlog of $22.4 billion. The company announced a $750 million share buyback and a 13% increase in its quarterly dividend to 17 cents per share. For 2023, Wabtec forecasts sales between $8.7 billion and $9 billion with adjusted EPS anticipated between $5.15 and $5.55.

Wabtec Corporation (NYSE: WAB) is set to release its fourth quarter results for 2022 on February 15, 2023, before the U.S. financial markets open. Investors and analysts can join a conference call at 8:30 a.m. ET on the same day to discuss the results. The call will be accessible via Wabtec's website, and a replay will be available afterward. Wabtec has a long-standing history in the rail industry, focusing on innovative transportation solutions and aiming for a zero-emission rail system globally.

Wabtec Corporation (NYSE: WAB) has achieved certification for its DistanceMaster adaptive wheel slide protection (WSP) technology, enhancing braking performance for transit rail operators. Certified by RINA after rigorous testing, this technology improves wheel and rail adhesion, promising increased efficiency and network capacity. The system reduces maintenance costs and braking distances significantly, especially in low adhesion conditions, making it valuable for SNCF's Regiolis fleet. This innovation aims to cut maintenance costs and improve safety while facilitating faster retrofits on existing trains.

Wabtec Corporation (NYSE: WAB) has announced a definitive agreement to acquire Super Metal, a Brazilian supplier of automated vehicles and equipment for rail operations. This acquisition enhances Wabtec's maintenance portfolio and supports its strategy to expand in international markets, particularly in Latin America. Although financial terms were undisclosed, Wabtec aims to leverage Super Metal's nearly 30 years of expertise to improve safety, productivity, and reduce operating costs for rail services. The move also complements Wabtec’s existing operations in Brazil.

Wabtec Corporation (NYSE: WAB) reported third quarter 2022 sales of $2.08 billion, marking a 9.1% increase year-over-year. Adjusted earnings per share (EPS) rose 7.0% to $1.22, while GAAP EPS jumped 27.5% to $0.88. The total backlog increased to $22.61 billion, up $0.77 billion year-over-year. Despite challenges from foreign currency exchange and supply chain constraints, the company experienced strong growth in its Freight segment, which saw an 18.2% sales increase. Wabtec revised its 2022 sales guidance to between $8.15 billion and $8.35 billion due to anticipated foreign currency impacts.

Wabtec Corporation (NYSE: WAB) has declared a regular quarterly dividend of 15 cents per share, payable on November 28, 2022. Shareholders of record as of November 14, 2022 will receive the dividend. Wabtec is a leading global provider of transportation solutions for the freight and transit rail industries. The company aims to achieve a zero-emission rail system in the U.S. and worldwide, reflecting its commitment to sustainability and innovation in the rail sector.

Wabtec Corporation (NYSE: WAB) will showcase its integrated mining systems at Bauma in Munich, Germany, from October 24-30. The company highlights advancements in electrification and sustainability, including its pioneering electric drive system for mining trucks, which has delivered over 10,000 units globally. This technology offers about 5% fuel savings while reducing diesel consumption by over 50% in trolley operations. Wabtec will also display its Digital Mine portfolio, enhancing safety and efficiency in mining. The company aims to drive innovation in mining practices.