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.
Union Pacific (NYSE: UNP) has signed a historic agreement with Wabtec Corporation (NYSE: WAB) for the modernization of 600 locomotives, totaling over $1 billion, the largest investment of its kind in the rail industry. This initiative aims to enhance fuel efficiency and reduce emissions by 350 tons per locomotive annually. The program supports Union Pacific's goal to achieve net zero greenhouse gas emissions by 2050 and involves recycling 70,000 tons of steel. The modernization will begin in 2023, with completion expected by 2025.
Wabtec Corporation (NYSE: WAB) announced a quarterly dividend of 15 cents per share, set for payment on August 29, 2022, to shareholders on record as of August 15, 2022. This dividend reflects the company's commitment to returning value to its shareholders amid its operations in the transportation solutions sector, specifically focusing on the freight and transit rail industries, as well as other markets.
Wabtec Corporation (NYSE: WAB) has secured a contract to supply HVAC units for 56 new Stadler trains for MARTA, enhancing the commuter experience in Atlanta. The contract involves providing 336 HVAC units - 224 for passenger cars and 112 for driver cabins. This deal signifies Wabtec's first subway order with Stadler in the U.S. and strengthens its transit operations. The HVAC systems are designed to manage extreme temperatures effectively, reflecting Wabtec's commitment to improving public transit.
Wabtec Corporation (NYSE: WAB) is set to report its Q2 2022 earnings before the U.S. markets open on August 5, 2022. A conference call for analysts and investors is scheduled for 8:30 a.m. ET on the same day. The call can be accessed via a webcast on Wabtec's website. The company's focus remains on delivering advanced solutions in the freight and transit rail industries, aiming for a zero-emission rail system.
Wabtec Corporation (NYSE: WAB) has appointed Beverley Babcock to its Board of Directors, effective immediately. Babcock, with over 30 years of financial and accounting expertise, previously served as CFO of Imperial Oil Limited and held key roles at ExxonMobil. Her extensive background in finance and the energy sector is expected to contribute significantly to Wabtec's growth. Wabtec aims to enhance shareholder value by leveraging her global experience in financial management and corporate governance.
Wabtec Corporation (NYSE: WAB) has acquired Collins Aerospace’s ARINC rail solutions business, enhancing its digital and electronics portfolio. Although financial terms were not disclosed, this acquisition aims to optimize rail networks, increasing productivity, efficiency, and safety. ARINC provides vital dispatch and back-office solutions supporting various rail systems across the U.S. and Canada. Wabtec, a leader in the rail industry for over 150 years, continues to pursue a zero-emission rail system globally.
Wabtec launched its Precision Dispatch System with an order from CN, marking a significant advancement in rail network automation. This system enhances capacity, efficiency, and safety across CN's extensive rail network of over 20,000 miles. It enables automated control of train operations and improves visibility of network conditions. Operational by late 2023, the system will initially utilize 37 control center desks, representing a major milestone in Wabtec's strategy for optimizing rail networks. This development emphasizes Wabtec's commitment to enhancing the safety and efficiency of rail operations.
Wabtec Corporation (NYSE: WAB) announced the retirement of Directors Lee Foster and Michael Howell on May 18, 2022, upon reaching the Board's retirement age. The Chairman, Al Neupaver, praised their contributions during a period of significant growth, noting they added substantial value for shareholders. CEO Rafael Santana emphasized their expertise in global business management. Wabtec is actively seeking new Board members through an external search firm to support its continued evolution and commitment to innovation in the rail industry.
Wabtec Corporation (NYSE: WAB) has announced a regular quarterly common dividend of 15 cents per share. The dividend will be payable on May 27, 2022, to shareholders on record as of May 20, 2022. This commitment to returning value to shareholders reflects Wabtec's solid financial position and ongoing confidence in its business strategy. Wabtec continues to focus on transportation solutions across various industries, including freight and transit rail, with a vision for zero-emission rail systems globally.
Wabtec Corporation (NYSE: WAB) announced significant growth in its first quarter results, reporting GAAP earnings per share of $0.80, up 35.6% year-over-year, and adjusted EPS of $1.13, a 27.0% increase. Sales reached $1.93 billion, a 5.3% rise, with a cash flow from operations of $161 million. The company's multi-year backlog increased to $22.76 billion, showing a 5.0% year-over-year growth. Wabtec raised its quarterly dividend by 25% and repurchased $296 million worth of shares, indicating strong confidence in future growth despite challenges from rising costs and supply chain disruptions.
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