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 has signed MOUs with Carnegie Mellon University and Genesee & Wyoming to develop technologies aimed at decarbonizing freight rail transport. The collaborations focus on zero-emission battery and hydrogen strategies, enhancing safety, and improving rail network utilization across North America. Aiming to create the Freight Rail Innovation Institute, the partnership seeks to produce zero-emission locomotives and generate around 250,000 jobs by 2030. Additionally, Wabtec showcased its FLXdrive battery-electric locomotive, which has already demonstrated significant fuel savings and emissions reduction in pilot tests.
Wabtec Corporation (NYSE: WAB) has appointed John Olin as Executive Vice President and Chief Financial Officer, effective October 1, 2021. Olin succeeds Pat Dugan, who is departing the company in Q4. Rafael Santana, Wabtec's President and CEO, praised Olin's extensive finance background and leadership skills, essential for driving shareholder value. Olin's prior experience includes his role as CFO at Harley-Davidson and financial leadership positions at Kraft Foods.
The leadership change aims to leverage Wabtec's potential in the transportation sector and enhance returns for shareholders.
Wabtec Corporation (NYSE: WAB) reported Q2 2021 earnings per share of $0.66, adjusted EPS of $1.06, and total sales of $2.0 billion, up from $1.7 billion a year ago. Strong cash flow of $223 million was achieved despite pandemic disruptions. Wabtec raised its full-year guidance, expecting sales between $7.9 billion and $8.2 billion, with adjusted EPS guidance between $4.15 and $4.35. The company’s backlog grew to $5.8 billion, the highest since March 2019, supported by increased orders, while year-to-date cash from operations reached $515 million, significantly up from $229 million in 2020.
Wabtec Corporation (NYSE: WAB) has declared a regular quarterly common dividend of 12 cents per share, with payment scheduled for August 27, 2021. Shareholders of record on August 13, 2021 will receive this dividend. This announcement reflects Wabtec's commitment to returning value to its investors and showcases its ongoing financial stability and performance in the freight and transit rail industries.
Wabtec Corporation (NYSE: WAB) has appointed Byron Foster to its Board of Directors. Foster, 52, brings over 30 years of experience in the transportation industry, previously serving as President of Light Vehicle Drive Systems at Dana Incorporated and holding senior roles at Johnson Controls and Adient. His background encompasses operations, engineering, marketing, and supply chain management. Wabtec's Chairman, Al Neupaver, highlighted Foster's potential to enhance the company's leadership in the rail sector, particularly in growth and technical innovation.
Wabtec Corporation (NYSE: WAB) will announce its 2021 second quarter results before the stock market opens on July 29, 2021. A conference call is scheduled for 8:30 a.m. ET that day to discuss the results with analysts and investors. Interested parties can join the call via webcast on Wabtec's website or listen to the audio replay by calling the provided numbers.
Wabtec is a leader in transportation solutions for the rail and industrial sectors and aims for low- to zero-emission systems globally.
CSX and Wabtec are collaborating to enhance sustainability in rail operations through locomotive modernization and advanced digital technologies. This partnership aims to help CSX achieve a 37% reduction in greenhouse gas emissions intensity by 2030. Key initiatives include implementing Wabtec’s Trip Optimizer Zero-to-Zero system, expected to save over 400 million gallons of fuel, and upgrading older locomotives with Tier 4 technology for 20% better fuel efficiency and 90% emissions reduction. The modernizations could lower CO2 emissions by 250 tons per locomotive annually.
Wabtec Corporation (NYSE: WAB) and General Motors (NYSE: GM) are collaborating to develop GM's Ultium battery and HYDROTEC hydrogen fuel cell technologies for Wabtec locomotives. This partnership aims to promote a zero-emission future in rail transportation. Wabtec's FLXdrive locomotive can reduce carbon emissions by 30% and is the world's first fully battery-powered locomotive. The nonbinding memorandum of understanding signifies both companies' commitment to advancing sustainable rail solutions using advanced propulsion technologies.
Wabtec Corporation (NYSE: WAB) has partnered with General Motors (NYSE: GM) to develop and commercialize GM's Ultium battery technology and HYDROTEC hydrogen fuel cell systems for locomotives. This collaboration aims to advance sustainable transformation in the rail industry, targeting a zero-emission future. Wabtec’s FLXdrive locomotive, the world’s first fully battery-powered unit, can significantly reduce carbon emissions. The companies signed a nonbinding memorandum of understanding to capitalize on their expertise in technology and energy management, further validating GM's advanced battery and fuel cell systems.
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