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) 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.
Wabtec Corporation (NYSE: WAB) received an unsolicited mini-tender offer from TRC Capital Investment Corporation to purchase up to two million shares at $59.25 each, which is 4.53% lower than Wabtec's last closing price of $62.06. Wabtec disassociates from this offer and advises shareholders against tendering their shares, highlighting that the offer price is below market value and lacks regulatory protections found in standard tender offers. Shareholders are encouraged to consult with financial advisors regarding this offer, which expires on November 24, 2020.
Wabtec Corporation (NYSE: WAB) reported Q3 2020 earnings of $0.67 per diluted share, down from $0.48 a year earlier. Adjusted earnings fell to $0.95 compared to $1.10 year-over-year. The company updated its full-year sales guidance to $7.5-$7.6 billion and adjusted EPS to $3.75-$3.85. Despite a 7% decline in Freight segment sales attributed to COVID-19 disruptions, the company generated $230 million in cash from operations, up from $124 million last year. Wabtec's backlog remains strong at $21.4 billion. The firm anticipates continued cash flow and operational recovery.
Wabtec Corporation (NYSE: WAB) has appointed Nicole Theophilus as Executive Vice President and Chief Human Resources Officer, effective immediately. She takes over from Scott Wahlstrom, who is retiring after nearly 30 years. Theophilus brings over 20 years of HR and legal experience, previously serving at ConAgra and West Corporation. Her focus will be on talent management and organizational culture, crucial for aligning with Wabtec's growth strategy. CEO Rafael Santana expressed confidence in her abilities to enhance employee advocacy and drive sustainable transportation solutions.
Wabtec Corporation (NYSE: WAB) has declared a quarterly common dividend of 12 cents per share. This dividend will be paid on November 27, 2020 to shareholders on record as of November 13, 2020. Wabtec is a global leader in rail equipment, systems, and services, with a strong emphasis on innovation and digital solutions in the freight and transit rail sectors. The company aims to enhance performance and create sustainable transportation solutions.
Wabtec Corporation (NYSE: WAB) will report its third quarter 2020 financial results on October 29, 2020, prior to the U.S. market opening. A conference call for analysts and investors will take place at 8:30 a.m. ET on the same day, which can be accessed through Wabtec's website under the Investor Relations section. Additionally, an audio replay will be available for those unable to attend the live call.
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