Westinghouse Air Brake Technologies Corp (doing business as Wabtec Corp)

Latest Results (17.12.2024):

Third Quarter 2024 Earnings

Westinghouse Air Brake Technologies Corp (doing business as Wabtec Corp) reported its third quarter 2024 financial results, showcasing a GAAP diluted earnings per share of $1.63, which marks a 22.6% increase compared to the same quarter in 2023. The adjusted diluted earnings per share stood at $2.00, reflecting a 17.6% rise from the previous year. This growth in earnings per share is attributed to higher sales and an expansion in operating margins.

Revenue and Sales Growth

For the third quarter of 2024, Wabtec Corp achieved a sales growth of 4.4%, bringing total sales to $2.66 billion. This increase was driven by higher sales in both the Freight and Transit segments. The company's strong performance in these areas underscores its ability to capitalize on market demand and expand its revenue base.

Operating Margins

Wabtec Corp reported a GAAP operating margin of 16.3% for the third quarter of 2024, an improvement from the previous year. The adjusted operating margin also saw an increase, reaching 19.7%. These enhancements in operating margins were supported by higher sales and improved gross margins, reflecting the company's effective cost management and operational efficiency.

Shareholder Returns

During the third quarter of 2024, Wabtec Corp returned $634 million to shareholders through share repurchases and dividends. This demonstrates the company's commitment to delivering value to its shareholders and maintaining a balanced approach to capital allocation.

2024 Financial Guidance

Wabtec Corp has raised and tightened its adjusted diluted EPS guidance for the full year 2024, now expected to be in the range of $7.45 to $7.65. This represents a 27.5% increase from 2023 at the midpoint. The company maintains its revenue guidance range at $10.25 billion to $10.55 billion, reflecting confidence in its ongoing growth trajectory and market opportunities.