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 Corporation (NYSE:WAB) has priced a public offering of €500 million aggregate principal amount of 1.250% Senior Notes due 2027. The Notes will have a fixed interest rate of 1.250% annually, maturing on December 3, 2027. Wabtec plans to use the net proceeds for Eligible Green Projects under its Green Finance Framework. The offering is expected to close on June 3, 2021, subject to customary conditions. The Notes will be guaranteed by Wabtec and are set to be listed on Euronext Dublin.
Wabtec Corporation (NYSE: WAB) announced a significant milestone with its FLXdrive battery-electric locomotive, achieving over an 11% reduction in fuel consumption and greenhouse gas emissions during a three-month pilot with BNSF Railway. This success translates to savings of over 6,200 gallons of diesel and 69 tons of CO2 emissions. The initiative, backed by a $22.6 million grant, aims to accelerate the transition to low-emission locomotives, with a second-generation FLXdrive expected to enhance fuel savings by up to 30%. Wabtec is committed to shaping a clean energy future for the rail industry.
Wabtec Corporation (NYSE: WAB) reported Q1 2021 earnings per diluted share of $0.59, with adjusted earnings at $0.89, down from $0.58 and $0.97 a year ago. Total sales were $1.8 billion, while cash from operations totaled $292 million. The company anticipates 2021 sales between $7.7 billion and $7.9 billion, with adjusted EPS guidance of $4.05 to $4.30. Despite a decrease in Freight segment sales by 9%, a 3% increase in Transit sales was noted. The backlog rose to $21.7 billion, indicating positive long-term growth prospects.
Wabtec Corporation (NYSE: WAB) announced it will report its 2021 first quarter results on April 29, 2021, before U.S. markets open. A conference call is scheduled for the same day at 8:30 a.m. ET, where analysts and investors can discuss the results. An audio replay will be available for those unable to attend the live call. Wabtec is recognized as a leading global provider of solutions in the freight and transit rail sectors, emphasizing innovation and performance in transportation solutions.
Wabtec Corporation (NYSE: WAB) has entered into a definitive agreement to acquire Nordco for $400 million. Nordco is a major supplier of rail maintenance equipment, projected to generate over $175 million in sales and $40 million in EBITDA in 2021. This acquisition aims to enhance Wabtec's portfolio and expand its market presence both domestically and internationally. The deal is expected to create over $10 million in cost synergies and is financed through cash and a revolving credit facility. Regulatory approvals have been secured, and the acquisition will be immediately accretive to Wabtec's EBITDA margin, EPS, and cash flow in 2021.
Wabtec Corporation (NYSE: WAB) has received a substantial order exceeding $70 million from Siemens Mobility for the London Underground’s Piccadilly Upgrade Program. This contract involves supplying brakes, HVAC systems, passenger information systems, and third-rail current collectors for 94 new trains. Key benefits include a weight reduction of 250 kg per train, improved energy efficiency, enhanced safety features, and modernized passenger experience. This initiative supports London's transit infrastructure and aims to create job growth while modernizing aging systems.
Wabtec Corporation (NYSE: WAB) has declared a quarterly dividend of 12 cents per share, payable on May 21, 2021, to shareholders on record as of May 7, 2021. Known for its comprehensive range of rail and transit solutions, Wabtec leverages extensive industry experience to provide cutting-edge technological innovations. The company is committed to enhancing safety, efficiency, and passenger comfort within global transportation systems. This dividend announcement reflects Wabtec's ongoing commitment to delivering value to its shareholders.
Wabtec Corporation (NYSE: WAB) announced its fourth quarter and full year 2020 financial results, highlighting a solid operational performance despite pandemic challenges. For Q4, Wabtec reported sales of $2.0 billion and GAAP earnings per diluted share of $0.46. The total backlog stood at $21.6 billion as of December 31, 2020. Looking ahead, Wabtec provided 2021 sales guidance between $7.6 billion and $7.9 billion, with expected GAAP earnings per diluted share between $2.65 and $3.05. The company also plans to achieve run-rate savings of $250 million this year.
Wabtec Corporation (NYSE: WAB) announced that Erwan Faiveley will not seek re-election to the Board of Directors in May 2021 after serving since 2016. Faiveley cited the need to focus on expanding the family’s wine business as the reason for his decision but affirmed the family's ongoing commitment as significant shareholders. Chairman Al Neupaver acknowledged Faiveley’s leadership during the company’s growth and strategic merger with Faiveley Transport. Wabtec is searching for diverse candidates to enhance its leadership team in light of its evolving business needs.
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