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WILMERDING, PA, April 24, 2018 – Wabtec Corporation (NYSE: WAB) today reported earnings per diluted share of 92 cents in the 2018 first quarter and affirmed its full-year guidance for revenues and earnings per diluted share. 
 
2018 First Quarter Consolidated Results

  • Sales were $1.06 billion, a 15 percent increase compared to the year-ago quarter.  Compared to the year-ago quarter, organic sales increased $35 million; sales from acquisitions increased $35 million; and changes in foreign currency exchange rates increased sales by $70 million, mainly in Transit.
  • Income from operations was $131 million including expenses of $1 million for restructuring and integration actions.  SG&A expenses increased mainly due to changes in foreign currency exchange rates and acquisitions.
  • Net interest expense was $20 million, reflecting a higher debt balance mainly due to acquisitions.
  • Other income was $2.6 million, lower than the prior year mainly due to non-cash foreign currency exchange gains in the 2017 quarter.
  • Income tax expense was $26 million for an effective tax rate of 23 percent, compared to 27.6 percent in the year-ago quarter.
  • Earnings per diluted share were 92 cents compared to 77 cents in the year-ago quarter. 
  • ...

WILMERDING, PA, April 19, 2018 – Wabtec Corporation (NYSE: WAB) declared its regular quarterly dividend of 12 cents per share, payable on May 25, 2018 to holders of record on May 11, 2018.

 

Wabtec Corporation (www.wabtec.com) is a leading global provider of equipment, systems and value-added services for transit and freight rail.  Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world.

WILMERDING, PA, April 16, 2018 – Wabtec Corporation (NYSE: WAB) said it will report 2018 first quarter results before the U.S. financial markets open on Tuesday, April 24.  The company will conduct a conference call to discuss those results with analysts and investors at 10 a.m. the same day.  To listen to the call via webcast, please go to www.wabtec.com and click on the “Investors” and “Webcasts” tabs of the site.  An audio replay of the call will also be available by calling 412-317-0088 (passcode: 466#).
 
Wabtec Corporation (www.wabtec.com) is a leading global provider of equipment, systems and value-added services for transit and freight rail.  Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world.

WILMERDING, PA, March 26, 2018 – Wabtec Corporation (NYSE: WAB) has acquired Annax, a leading supplier of Public Address and Passenger Information Systems (PAPIS) for transit vehicles. Headquartered in Germany, Annax has annual sales of about $55 million.
 
With operations in Germany, Switzerland and China, Annax provides a wide range of communication systems, intercoms, audio technologies and displays, serving both car builders and operators globally.
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said: “Annax is an excellent strategic fit with our existing Electronics business.  The company’s leading-edge solutions complement Wabtec’s product portfolio and expand our capabilities with existing customers while providing opportunities in new markets.”
 
Wabtec Corporation is a leading global provider of equipment, systems and value-added services for transit and freight rail.  Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world.

WILMERDING, PA, Feb. 20, 2018 – Wabtec Corporation (NYSE: WAB) today reported results for the 2017 fourth quarter and full year, and issued 2018 financial guidance.           
 
2017 Summary
 
In the fourth quarter of 2017, Wabtec had sales of $1.08 billion and GAAP earnings per diluted share of 51 cents.  Excluding certain items related to the integration of Faiveley Transport (see discussion and reconciliation table below), the company had adjusted earnings per diluted share of 90 cents.
For the full year of 2017, Wabtec had sales of $3.88 billion and GAAP earnings per diluted share of $2.72.  Excluding certain items related to the integration of Faiveley Transport (see discussion and reconciliation table below), the company had adjusted earnings per diluted share of $3.43.
 
2018 Financial Guidance
  
In 2018, Wabtec expects sales to be about $4.1 billion and adjusted earnings per diluted share to be about $3.80 excluding expected restructuring and integration charges.  The company’s operating margin target for the full year is about 13.5 percent, and its effective tax rate for the full year is expected to be about 23.5 percent....

WILMERDING, PA, February 12, 2018 – Wabtec Corporation (NYSE: WAB) has signed a contract worth about $62 million to design, install, test and commission Positive Train Control (PTC) for the Central Florida Rail Corridor (CFRC), which operates the SunRail commuter rail service.
 
Under the contract, Wabtec will provide its Interoperable Electronic Train Management System (I-ETMS®) equipment for 24 locomotives and cab cars, a back-office server, wayside communications and signals, a dispatch system, training, and system integration.  Installation is expected to be completed by the end of 2018.   
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said:  “The scope of our work on this project demonstrates the wide-ranging roles that Wabtec can play in the implementation of PTC for our customers.  We are continuing to invest worldwide in this important segment of our business.”
 
Nicola Liquori, chief executive officer of SunRail, said:  “Safety is the number one priority for SunRail and the Florida Department of Transportation. Positive Train Control will allow us to increase safety for our customers, crews and the traveling public in general.”
 
SunRail operates...

WILMERDING, PA, Feb. 2, 2018 – Wabtec Corporation (NYSE: WAB) today announced an estimate of the impact of U.S. tax reform and its preliminary 2017 fourth quarter results.  The fourth quarter preliminary results include:
 

  • Revenues of about $1.1 billion.
  • GAAP earnings per diluted share of about 55 cents. 
  • GAAP earnings are expected to include the following impact from the U.S. tax reform bill that was enacted in December 2017:  expenses of about $55 million, or about 57 cents per diluted share, for the repatriation of earnings; and a benefit of about $52 million, or about 53 cents per diluted share, from a reduction in deferred tax liabilities.  Therefore, the net impact of U.S. tax reform in the fourth quarter is expected to be an expense of about $3 million, or about 4 cents per diluted share.
  • GAAP earnings are also expected to include:  contract adjustments of about $24 million, or about 18 cents per diluted share, for higher-than-expected costs to complete certain existing contracts; and expenses of about $18 million, or about 13 cents per diluted share, for restructuring and integration actions. 
  • Excluding the impact of tax reform,
  • ...

WILMERDING, PA, Jan. 29, 2018 – Wabtec Corporation (NYSE: WAB) declared its regular quarterly dividend of 12 cents per share, payable on Feb. 23, 2018 to holders of record on Feb. 9, 2018.

 

Wabtec Corporation (www.wabtec.com) is a leading global provider of equipment, systems and value-added services for transit and freight rail.  Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world.

WILMERDING, PA, January 9, 2018 – Wabtec Corporation (NYSE: WAB) has appointed Donald M. Itzkoff as Vice President, Government Relations and Public Affairs.  Itzkoff comes to Wabtec from General Electric Company, where he led U.S. government affairs for GE Transportation.  He previously served as Deputy Federal Railroad Administrator in the Clinton administration and earlier was senior majority counsel with the U.S. Senate Committee on Commerce, Science, and Transportation. 
 
"We are delighted to have Don join Wabtec to elevate the company's profile as our public transportation, freight rail and industrial portfolio expands globally," said Raymond T. Betler, Wabtec’s president and chief executive officer.  "Don's deep expertise with transportation policy and his distinguished former government service will significantly strengthen Wabtec's standing both in Washington and around the world."    
 
Prior to joining GE, Itzkoff was a partner with Nossaman LLP and also with Foley & Lardner LLP. Itzkoff holds a J.D. from the University of Michigan and an undergraduate degree from Brown University.
 
Wabtec Corporation is a leading global provider of equipment, systems and value-added services for the public transportation, freight rail and industrial markets.  Wabtec has nearly 20,000 employees...

WILMERDING, PA, December 13, 2017 – Wabtec Corporation (NYSE: WAB) has signed a contract worth about $5 million to design, install, test and commission a yard train control solution for RUMO, one of the largest freight railroads in Brazil.
 
Under the contract, Wabtec will provide its Train Management & Dispatching System (TMDS) associated with wayside signaling interlocking, training and systems integration. Installation is expected to be completed by the end of 2018, providing increased safety and efficiency to one of the main ports in Brazil.
 
The initiative will allow the port, located in Santos, São Paulo state, to prepare for future technology upgrades and to integrate with other railroads.  In doing so, it will become an essential interoperable point to Brazil’s railroads.
 
Raymond T. Betler, Wabtec’s president and chief executive officer, said: Wabtec’s relationship with RUMO is extremely strong as a result of the Freight Products and Services for both cars and locomotives that we have been supplying for decades. The addition of this Train Control Contract allows for even greater collaboration while providing innovative railway solutions that reinforce our position...

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