Wabtec Corporation “started the year strong, delivering over 20% in earnings per share growth and highlighting the continued business momentum across both the Freight and Transit segments,” President and CEO Rafael Santana
RAILWAY AGE, FEBRUARY 2024 ISSUE: Nearly 140 years after the first patent was issued, draft gears and cushioning devices remain as fundamental to railroading as steel wheels rolling on steel rails. Few
Railway Age is pleased to announce the 25 “Fast Trackers” selected for this year’s 25 Under 40 awards program.
The Pittsburgh Post-Gazette has reported that Wabtec Corp. will lay off 94 workers with the closure of its Wilmerding, Pa., plant, which is set to occur around July 1, 2024. According to the Post-Gazette,
Wabtec Corp. and Keolis Group will team on commercial activities and product development for the freight rail and transit markets under a three-year international agreement.
Wabtec Corp. reported a “strong operational third quarter in the face of a challenging and dynamic environment,” and updated its 2020 guidance.
Wabtec Corp. launched air-filtration innovation BlueFilter® in an effort to provide a clean, healthy environment for passengers on metro and trains. The filter continuously provides fresh and clean air onboard metro and railcars by removing more than 90% of contaminants per air cycle.
Wabtec Corp. has struck gold in Germany—DGNB (Deutsche Gesellschaft für Nachhaltiges Bauen, or “German Sustainable Building Council”) Gold, that is. The U.S.-based global railway supplier has broken ground in Bochum on a 20,000-square-meter facility for developing, manufacturing and/or maintaining transit vehicle brakes and couplers. Described as “green and state-of-the-art,” the plant will be DGNB Gold-certified “in recognition of its sustainable and innovative design” when completed in third-quarter 2020.
Wabtec Corp. has acquired RELCO Locomotives for $29 million, on a cash- and debt-free basis. All conditions for the acquisition are complete and the transaction will be accretive in year one. RELCO’s projected sales for 2019 are roughly $50 million.
Wabtec Corp. recently reported its 3Q19 results, which include earnings per diluted share of $0.48 and adjusted earnings per diluted share of $1.03. In addition, Wabtec noted that it generated GAAP cash from operations of $124 million for the quarter and affirmed its 2019 GAAP cash from operations guidance of about $900 million.