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) 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.
Wabtec Corporation (NYSE: WAB) has announced a definitive agreement to acquire Super Metal, a Brazilian supplier of automated vehicles and equipment for rail operations. This acquisition enhances Wabtec's maintenance portfolio and supports its strategy to expand in international markets, particularly in Latin America. Although financial terms were undisclosed, Wabtec aims to leverage Super Metal's nearly 30 years of expertise to improve safety, productivity, and reduce operating costs for rail services. The move also complements Wabtec’s existing operations in Brazil.
Wabtec Corporation (NYSE: WAB) reported third quarter 2022 sales of $2.08 billion, marking a 9.1% increase year-over-year. Adjusted earnings per share (EPS) rose 7.0% to $1.22, while GAAP EPS jumped 27.5% to $0.88. The total backlog increased to $22.61 billion, up $0.77 billion year-over-year. Despite challenges from foreign currency exchange and supply chain constraints, the company experienced strong growth in its Freight segment, which saw an 18.2% sales increase. Wabtec revised its 2022 sales guidance to between $8.15 billion and $8.35 billion due to anticipated foreign currency impacts.
Wabtec Corporation (NYSE: WAB) has declared a regular quarterly dividend of 15 cents per share, payable on November 28, 2022. Shareholders of record as of November 14, 2022 will receive the dividend. Wabtec is a leading global provider of transportation solutions for the freight and transit rail industries. The company aims to achieve a zero-emission rail system in the U.S. and worldwide, reflecting its commitment to sustainability and innovation in the rail sector.
Wabtec Corporation (NYSE: WAB) will showcase its integrated mining systems at Bauma in Munich, Germany, from October 24-30. The company highlights advancements in electrification and sustainability, including its pioneering electric drive system for mining trucks, which has delivered over 10,000 units globally. This technology offers about 5% fuel savings while reducing diesel consumption by over 50% in trolley operations. Wabtec will also display its Digital Mine portfolio, enhancing safety and efficiency in mining. The company aims to drive innovation in mining practices.
Wabtec Corporation (NYSE: WAB) has signed a five-year services contract with Akiem, a European rolling stock leasing company, to maintain locomotive equipment in Europe. This partnership aims to enhance the safety and reliability of Akiem's fleet, specifically for their PRIMA and TRAXX models in France and Germany. Wabtec's European presence and expertise in brake components, pantographs, and HVAC systems will facilitate optimal equipment monitoring. Both companies plan to innovate services including remote diagnostics and sustainable HVAC refrigerants.
Wabtec Corporation (NYSE: WAB) will report its third-quarter 2022 results on November 1, before the U.S. markets open. The company will host a conference call at 8:30 a.m. ET to discuss these results with analysts and investors. Interested parties can access the call via a webcast on Wabtec’s website under the ‘Events & Presentations’ section. An audio replay will also be available by calling designated numbers. Wabtec continues to be a leader in transportation solutions, focusing on the freight and transit rail industries.
Wabtec (NYSE: WAB) and Kazakhstan Temir Zholy (KTZ) have signed a significant memorandum of understanding for 150 FLXdrive battery-electric shunters and modernization of the mainline fleet into NextFuel LNG-powered locomotives. This agreement represents the largest sustainable technology investment by the CIS railroad, aiming to cut greenhouse gas emissions and operational costs. The battery shunters promise reduced fuel costs of $75,000 annually per unit and up to 97% lower maintenance. Production starts in 2024 at the LKZ facility in Kazakhstan.
Wabtec Corporation (NYSE: WAB) has secured an order to provide 300 half-height platform screen doors for Metro de Panama's L3 monorail stations, marking its first project in Central America. This initiative is part of a 25km monorail line utilizing 28 six-car trains, along with various systems for signaling and telecommunications. The installation of these screen doors aims to enhance passenger safety and operational efficiency, with Wabtec's proven experience in this technology being a significant factor in their selection for this project.
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