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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) reported strong first quarter 2023 results, with sales increasing 13.9% to $2.19 billion. Notably, sales rose 16.8% when excluding currency impacts. The company's GAAP earnings per diluted share were $0.93, up 16.3% year-over-year, while adjusted earnings per diluted share stood at $1.28, marking a 13.3% increase. Wabtec returned $209 million to shareholders through dividends and share repurchases. The multi-year backlog offers strong visibility, totaling $22.3 billion as of March 31, 2023. However, cash flow from operations was negative at ($25 million), a decline from $161 million in the previous year. The company forecasts 2023 sales of $8.7 billion to $9.0 billion and expects adjusted EPS between $5.15 and $5.55.
Wabtec Corporation (NYSE: WAB) is set to release its first quarter results for 2023 on April 26, 2023, before U.S. financial markets open. A conference call will take place that same day at 8:30 a.m. ET to discuss these results with analysts and investors. Participants can access the call via webcast on Wabtec’s official website.
Wabtec is a prominent global provider of equipment and digital solutions for the freight and transit rail industries, boasting over 150 years of experience in the field. The company is committed to achieving a zero-emission rail system both in the U.S. and globally, underscoring its dedication to sustainable transportation solutions.
Wabtec Corporation (NYSE: WAB) announced leadership changes aimed at enhancing growth in its Services and Transit sectors and advancing sustainability initiatives. Effective April 3, Pascal Schweitzer will become President of Wabtec Transit, transitioning from Global Freight Services. Lilian Leroux will take on the role of Chief Strategy and Sustainability Officer, focusing on strategic and sustainability objectives. Alicia Hammersmith will assume the position of President of Global Freight Services. CEO Rafael Santana emphasizes that these strategic appointments are critical for driving profitable growth and delivering value to stakeholders.
Wabtec Corporation (NYSE: WAB) reported a fourth quarter sales growth of 11.2% to $2.31 billion, with adjusted earnings per share increasing 10.2% to $1.30. Despite a 15.7% decline in GAAP EPS to $0.86, operating cash flow surged 30.6% year-over-year to $410 million. Wabtec maintains a strong backlog of $22.4 billion. The company announced a $750 million share buyback and a 13% increase in its quarterly dividend to 17 cents per share. For 2023, Wabtec forecasts sales between $8.7 billion and $9 billion with adjusted EPS anticipated between $5.15 and $5.55.
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