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 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.
Wabtec Corporation (NYSE: WAB) will report its fourth quarter results for 2020 before U.S. markets open on February 18, 2021. A conference call to discuss these results will take place at 8:30 a.m. ET the same day, accessible via webcast on Wabtec’s website. This event marks a key moment for investors and analysts to gain insights into the company’s performance and future outlook. Wabtec, a major player in the rail industry, focuses on innovation and digital solutions, supporting freight and transit sectors globally.
BNSF Railway and Wabtec are testing battery-electric locomotives in revenue service between Barstow and Stockton, California, marking a significant milestone in their collaboration. This pilot, running from January to March, aims to reduce emissions and improve fuel economy by at least 10%. Supported by a $22.6 million grant from the California Air Resource Board, this initiative aligns with BNSF's investment in sustainable technologies. If successful, it may lead to broader testing across different locations.
Wabtec Corporation (NYSE: WAB) has declared a quarterly dividend of 12 cents per share, which will be payable on February 26, 2021, to shareholders on record as of February 12, 2021. This announcement reflects Wabtec's commitment to returning value to its shareholders amid its operations as a leading provider of equipment and services for freight and transit rail.
Wabtec Corporation (NYSE: WAB) appointed Lee Banks to its Board of Directors. Banks, 57, currently serves as President and COO of Parker Hannifin Corporation, bringing extensive experience in customer solutions, innovation, and lean operations. His past experience includes leadership roles that emphasized product growth and innovation in emerging markets. Wabtec's Chairman highlighted Banks' potential to enhance the company's technical leadership and drive profitable growth within the rail industry.
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