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, headquartered at 1001 Airbrake Ave, Wilmerding, PA 15148, is a leading provider of value-added, technology-based products and services primarily for the freight rail and passenger transit industries. With a diversified portfolio, Wabtec also operates in the mining, marine, and industrial markets.
The company operates through two main segments: Freight and Transit. The Freight segment is the primary revenue driver, focusing on manufacturing, modernizing, and providing aftermarket parts and services for locomotives. Additional activities include supplying components for both new and existing freight cars, building new commuter locomotives, and offering rail control and infrastructure products such as electronics, positive train control equipment, and signal design and engineering services.
Wabtec's Transit segment complements its freight operations by delivering a broad range of products and services for passenger transit systems. This includes providing components and systems for passenger rail vehicles and offering comprehensive services and solutions to keep these systems running smoothly and safely.
Geographically, the majority of Wabtec's revenue is generated from the United States, although the company's products and services have a significant global footprint. Recent achievements include advancements in locomotive technology, strategic partnerships with major rail operators, and expansion into emerging markets.
Financially, Wabtec continues to exhibit robust performance with consistent revenue growth driven by strong demand in both the Freight and Transit segments. The company is well-positioned for future growth with ongoing investments in innovation and sustainability initiatives, ensuring that it remains at the forefront of the transportation industry.
Wabtec (NYSE: WAB) announced strategic acquisitions of Fanox and Kompozitum for its Transit Business in a combined $110-million cash transaction. The Fanox acquisition enhances Wabtec's specialized relay production capabilities for train operations, while Kompozitum strengthens its pantograph portfolio manufacturing efficiency and opens new markets for carbon and graphite solutions. The acquisitions, financed through cash on hand and a revolving credit facility, are expected to be immediately accretive to EPS excluding transaction costs and drive strong synergies.
Wabtec (NYSE: WAB) reported strong Q3 2024 results with sales growth of 4.4% to $2.66 billion. The company achieved GAAP earnings per diluted share of $1.63, up 22.6%, and adjusted earnings per diluted share of $2.00, up 17.6% year-over-year. Operating performance improved with GAAP operating margin at 16.3% and adjusted operating margin up 1.8 points to 19.7%. The company generated $542 million in operating cash flow and returned $634 million to shareholders through share repurchases and dividends. Based on strong performance, Wabtec raised its 2024 adjusted EPS guidance to $7.45-$7.65, representing a 27.5% increase from 2023 at the midpoint.
Wabtec (NYSE: WAB) has secured a $405-million agreement with Kazakhstan Temir Zholy (KTZ) to supply Evolution Series ES44ACi locomotives. This deal aims to upgrade KTZ's aging fleet and support growing rail demand in the region. The locomotives feature a 12-cylinder, 4,500-horsepower engine, designed to operate in Kazakhstan's extreme weather conditions and mountainous terrain.
The ES44ACi offers improved efficiency, reliability, and operational savings, with longer periods between maintenance overhauls. The locomotives will be built at Wabtec's Lokomotiv Kurastyru Zauyty plant in Astana, which employs over 700 people and meets global quality standards. Delivery of the first locomotives is set to begin next year, joining KTZ's existing fleet of approximately 451 Evolution Series freight locomotives.
Wabtec (NYSE: WAB) has announced that its Board of Directors has declared a regular quarterly common dividend of 20 cents per share. This dividend will be payable on November 27, 2024, to shareholders who are holders of record on November 13, 2024. This announcement demonstrates Wabtec's commitment to providing regular returns to its shareholders through dividend payments.
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.
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