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.
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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.
Wabtec Corporation (NYSE: WAB) has signed a five-year services contract with Akiem, a European rolling stock leasing company, to maintain locomotive equipment in Europe. This partnership aims to enhance the safety and reliability of Akiem's fleet, specifically for their PRIMA and TRAXX models in France and Germany. Wabtec's European presence and expertise in brake components, pantographs, and HVAC systems will facilitate optimal equipment monitoring. Both companies plan to innovate services including remote diagnostics and sustainable HVAC refrigerants.
Wabtec Corporation (NYSE: WAB) will report its third-quarter 2022 results on November 1, before the U.S. markets open. The company will host a conference call at 8:30 a.m. ET to discuss these results with analysts and investors. Interested parties can access the call via a webcast on Wabtec’s website under the ‘Events & Presentations’ section. An audio replay will also be available by calling designated numbers. Wabtec continues to be a leader in transportation solutions, focusing on the freight and transit rail industries.