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 (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.
This resource serves as your centralized reference for understanding Wabtec's market position through verified financial disclosures and operational updates. Regular updates ensure timely awareness of maintenance service expansions, digital control system deployments, and international market entries. Stay informed about initiatives driving efficiency in freight logistics and urban transit networks.
Bookmark this page for streamlined access to Wabtec's evolving corporate narrative. Combine strategic insights with technical expertise through our maintained repository of official communications and industry analysis.
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.
Wabtec Corporation (NYSE: WAB) announced an updated credit agreement, enhancing its revolving credit facility from $1.2 billion to $1.5 billion, with an added $250 million delayed draw term loan. The new agreement extends the maturity date to August 2027 from the previous June 2023. The changes primarily involve a shift from LIBOR to a SOFR-based pricing structure, maintaining other terms largely unchanged. PNC Bank acts as the administrative agent, with various banks as syndication agents.
Wabtec Corporation (NYSE: WAB) has inaugurated its first Transit Performance Optimization Center (TPOC) in Derby, UK, aimed at enhancing operational efficiency for transit customers. This facility will utilize real-time monitoring and analytics to predict failures and optimize maintenance schedules. Wabtec monitors around 10 million data points daily across global centers, assisting transit systems in minimizing service disruptions. The TPOC will also support Porterbrook Leasing's fleet of 4,000 passenger assets, driving improvements in asset management and service dependability.
