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Wabtec Corporation (WAB) delivers innovative solutions for freight rail and passenger transportation systems worldwide. This dedicated news hub provides investors and industry professionals with essential updates on corporate developments, technological advancements, and strategic initiatives shaping the future of rail transportation.
Access authoritative information on earnings announcements, product innovations, and operational milestones. Our curated collection includes press releases covering locomotive modernization programs, safety system enhancements, and sustainability efforts within the rail sector. Track partnership announcements and regulatory developments impacting global transit infrastructure.
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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.
Wabtec Corporation (NYSE: WAB) is set to release its fourth quarter results for 2022 on February 15, 2023, before the U.S. financial markets open. Investors and analysts can join a conference call at 8:30 a.m. ET on the same day to discuss the results. The call will be accessible via Wabtec's website, and a replay will be available afterward. Wabtec has a long-standing history in the rail industry, focusing on innovative transportation solutions and aiming for a zero-emission rail system globally.
Wabtec Corporation (NYSE: WAB) has achieved certification for its DistanceMaster adaptive wheel slide protection (WSP) technology, enhancing braking performance for transit rail operators. Certified by RINA after rigorous testing, this technology improves wheel and rail adhesion, promising increased efficiency and network capacity. The system reduces maintenance costs and braking distances significantly, especially in low adhesion conditions, making it valuable for SNCF's Regiolis fleet. This innovation aims to cut maintenance costs and improve safety while facilitating faster retrofits on existing trains.
