Westinghouse Air Brake Technologies Corporation

Westinghouse Air Brake Technologies Corporation Earnings Recaps

WAB Industrials 3 recaps
Q1 2026 Apr 22, 2026

Wabtec delivered a robust first quarter with 13% revenue growth and 19% adjusted EPS increase, supported by strong backlog and operational execution. The company remains optimistic on international markets and strategic wins, underpinning its long-term growth trajectory.

Key takeaways
  • Revenues reached $3 billion, up 13%, with adjusted EPS rising 19%, driven by operational gains and favorable currency/tax benefits.
  • 12-month backlog increased 13%, with multiyear backlog exceeding $30 billion, highlighting sustained market momentum.
  • International markets, especially Latin America, Africa, and India, showed resilient growth, while North American carload traffic grew modestly.
  • Notable wins include a multibillion-dollar mining order and a $210 million locomotive modernization deal, reinforcing market leadership.
  • Strategic acquisitions, including Frauscher and Dellner, are integrating well, with early synergy benefits ahead of expectations.
Full recap
Q3 2025 Oct 22, 2025

Westinghouse Air Brake Technologies Corporation reported a robust third quarter with 8% revenue growth to $2.9 billion and a 16% increase in adjusted EPS, bolstered by strategic acquisitions and a historic international order.

Key takeaways
  • Total cash flow from operations reached $367 million, reflecting strong financial health.
  • The twelve-month backlog grew to $8.3 billion, an 8.4% increase, with multi-year backlog setting a record high.
  • Secured a $4.2 billion order with Kazakhstan's National Railway, underscoring strong international demand.
  • Continued growth expected in the Transit segment, supported by rising ridership and public investment in rail infrastructure.
  • Improved operating margins are projected to reach the high teens as the company maintains its focus on cost efficiencies and competitive positioning.
Full recap
Q2 2025 Jul 25, 2025

Wabtec's Q2 2025 performance showed resilience with a 2% increase in sales to $2.7 billion and a notable 16% rise in adjusted EPS, despite challenges from supply chain disruptions.

Key takeaways
  • Adjusted EPS grew 16% year-over-year, signaling strong profitability amid market volatility.
  • Revenue missed expectations due to a $60 million supply chain issue, but underlying demand remains robust.
  • A 12-month backlog expanded 11.9% to $8.2 billion, indicating strong future revenue visibility.
  • Strategic acquisitions, including Inspection Technologies, are expected to generate annual revenues of $850 million and significant synergies over the next three years.
  • International market opportunities are thriving, with healthy demand for infrastructure improvements and modernization projects across key regions.
Full recap