Wabtec Corp. Stock Price, News & Analysis

Wabtec (NYSE: WAB) and Kazakhstan Temir Zholy (KTZ) have signed a significant memorandum of understanding for 150 FLXdrive battery-electric shunters and modernization of the mainline fleet into NextFuel LNG-powered locomotives. This agreement represents the largest sustainable technology investment by the CIS railroad, aiming to cut greenhouse gas emissions and operational costs. The battery shunters promise reduced fuel costs of $75,000 annually per unit and up to 97% lower maintenance. Production starts in 2024 at the LKZ facility in Kazakhstan.

Wabtec Corporation (NYSE: WAB) has secured an order to provide 300 half-height platform screen doors for Metro de Panama's L3 monorail stations, marking its first project in Central America. This initiative is part of a 25km monorail line utilizing 28 six-car trains, along with various systems for signaling and telecommunications. The installation of these screen doors aims to enhance passenger safety and operational efficiency, with Wabtec's proven experience in this technology being a significant factor in their selection for this project.

Wabtec Corporation (NYSE: WAB) announced an updated credit agreement, enhancing its revolving credit facility from $1.2 billion to $1.5 billion, with an added $250 million delayed draw term loan. The new agreement extends the maturity date to August 2027 from the previous June 2023. The changes primarily involve a shift from LIBOR to a SOFR-based pricing structure, maintaining other terms largely unchanged. PNC Bank acts as the administrative agent, with various banks as syndication agents.

Wabtec Corporation (NYSE: WAB) has inaugurated its first Transit Performance Optimization Center (TPOC) in Derby, UK, aimed at enhancing operational efficiency for transit customers. This facility will utilize real-time monitoring and analytics to predict failures and optimize maintenance schedules. Wabtec monitors around 10 million data points daily across global centers, assisting transit systems in minimizing service disruptions. The TPOC will also support Porterbrook Leasing's fleet of 4,000 passenger assets, driving improvements in asset management and service dependability.

Wabtec Corporation (NYSE: WAB) reported strong financial performance for Q2 2022, achieving a GAAP EPS of $0.91 and an adjusted EPS of $1.23, marking increases of 37.9% and 16.0%, respectively. Total sales grew 1.8% to $2.05 billion, driven by higher Freight segment sales. The company’s total backlog reached $23.23 billion, up $1.70 billion year-over-year. Operating margins improved, with GAAP at 12.9% and adjusted at 16.7%. Wabtec also announced the completion of two acquisitions and $103 million in share repurchases, highlighting its ongoing strategic growth efforts.

Union Pacific (NYSE: UNP) has signed a historic agreement with Wabtec Corporation (NYSE: WAB) for the modernization of 600 locomotives, totaling over $1 billion, the largest investment of its kind in the rail industry. This initiative aims to enhance fuel efficiency and reduce emissions by 350 tons per locomotive annually. The program supports Union Pacific's goal to achieve net zero greenhouse gas emissions by 2050 and involves recycling 70,000 tons of steel. The modernization will begin in 2023, with completion expected by 2025.

Wabtec Corporation (NYSE: WAB) announced a quarterly dividend of 15 cents per share, set for payment on August 29, 2022, to shareholders on record as of August 15, 2022. This dividend reflects the company's commitment to returning value to its shareholders amid its operations in the transportation solutions sector, specifically focusing on the freight and transit rail industries, as well as other markets.

Wabtec Corporation (NYSE: WAB) has secured a contract to supply HVAC units for 56 new Stadler trains for MARTA, enhancing the commuter experience in Atlanta. The contract involves providing 336 HVAC units - 224 for passenger cars and 112 for driver cabins. This deal signifies Wabtec's first subway order with Stadler in the U.S. and strengthens its transit operations. The HVAC systems are designed to manage extreme temperatures effectively, reflecting Wabtec's commitment to improving public transit.

Wabtec Corporation (NYSE: WAB) is set to report its Q2 2022 earnings before the U.S. markets open on August 5, 2022. A conference call for analysts and investors is scheduled for 8:30 a.m. ET on the same day. The call can be accessed via a webcast on Wabtec's website. The company's focus remains on delivering advanced solutions in the freight and transit rail industries, aiming for a zero-emission rail system.