Wabtec Corp. Stock Price, News & Analysis

Wabtec Corporation (NYSE: WAB) has appointed Beverley Babcock to its Board of Directors, effective immediately. Babcock, with over 30 years of financial and accounting expertise, previously served as CFO of Imperial Oil Limited and held key roles at ExxonMobil. Her extensive background in finance and the energy sector is expected to contribute significantly to Wabtec's growth. Wabtec aims to enhance shareholder value by leveraging her global experience in financial management and corporate governance.

Wabtec Corporation (NYSE: WAB) has acquired Collins Aerospace’s ARINC rail solutions business, enhancing its digital and electronics portfolio. Although financial terms were not disclosed, this acquisition aims to optimize rail networks, increasing productivity, efficiency, and safety. ARINC provides vital dispatch and back-office solutions supporting various rail systems across the U.S. and Canada. Wabtec, a leader in the rail industry for over 150 years, continues to pursue a zero-emission rail system globally.

Wabtec launched its Precision Dispatch System with an order from CN, marking a significant advancement in rail network automation. This system enhances capacity, efficiency, and safety across CN's extensive rail network of over 20,000 miles. It enables automated control of train operations and improves visibility of network conditions. Operational by late 2023, the system will initially utilize 37 control center desks, representing a major milestone in Wabtec's strategy for optimizing rail networks. This development emphasizes Wabtec's commitment to enhancing the safety and efficiency of rail operations.

Wabtec Corporation (NYSE: WAB) announced the retirement of Directors Lee Foster and Michael Howell on May 18, 2022, upon reaching the Board's retirement age. The Chairman, Al Neupaver, praised their contributions during a period of significant growth, noting they added substantial value for shareholders. CEO Rafael Santana emphasized their expertise in global business management. Wabtec is actively seeking new Board members through an external search firm to support its continued evolution and commitment to innovation in the rail industry.

Wabtec Corporation (NYSE: WAB) has announced a regular quarterly common dividend of 15 cents per share. The dividend will be payable on May 27, 2022, to shareholders on record as of May 20, 2022. This commitment to returning value to shareholders reflects Wabtec's solid financial position and ongoing confidence in its business strategy. Wabtec continues to focus on transportation solutions across various industries, including freight and transit rail, with a vision for zero-emission rail systems globally.

Wabtec Corporation (NYSE: WAB) announced significant growth in its first quarter results, reporting GAAP earnings per share of $0.80, up 35.6% year-over-year, and adjusted EPS of $1.13, a 27.0% increase. Sales reached $1.93 billion, a 5.3% rise, with a cash flow from operations of $161 million. The company's multi-year backlog increased to $22.76 billion, showing a 5.0% year-over-year growth. Wabtec raised its quarterly dividend by 25% and repurchased $296 million worth of shares, indicating strong confidence in future growth despite challenges from rising costs and supply chain disruptions.

Wabtec Corporation (NYSE: WAB) has entered a definitive agreement to acquire Trimble’s Beena Vision business, enhancing its wayside inspection technology for the railroad industry. The acquisition, pending customary closing conditions, will integrate Beena Vision’s machine vision systems with Wabtec’s TrackIQ portfolio, aiming to reduce maintenance costs and improve fleet safety. Beena Vision's systems support real-time monitoring, already adopted by major North American railroads. This strategic move will bolster Wabtec's offerings in digital and electronics solutions.

Wabtec Corporation (NYSE: WAB) will announce its Q1 2022 results on April 27, 2022, before the U.S. markets open. A conference call for analysts and investors will be held at 8:30 a.m. ET on the same day to discuss the earnings. Interested parties can listen via webcast on Wabtec’s official website, and an audio replay will be available shortly after the call.

Wabtec is a global leader in transportation solutions for the freight and transit rail industries, aiming for a zero-emission rail system.