Wabtec Corporation is a leading global provider of equipment, systems, digital solutions and value-added services for freight and transit rail. Drawing on nearly four centuries of collective experience across Wabtec, GE Transportation and Faiveley Transport, the company has unmatched digital expertise, technological innovation, and world-class manufacturing and services, enabling the digital-rail-and-transit ecosystems. Wabtec is focused on performance that drives progress, creating transportation solutions that move and improve the world. The freight portfolio features a comprehensive line of locomotives, software applications and a broad selection of mission-critical controls systems, including Positive Train Control. The transit portfolio provides highly engineered systems and services to virtually every major rail transit system around the world, supplying an integrated series of components for buses and all train-related market segments that deliver safety, efficiency and passenger comfort. Along with its industry-leading portfolio of products and solutions for the rail and transit industries, Wabtec is a leader in mining, marine, and industrial solutions. Based in Pittsburgh, PA.

Company profile
Ticker
WAB
Exchange
Website
CEO
Rafael Santana
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
WABTEC CORP, WESTINGHOUSE AIR BRAKE CO /DE/
SEC CIK
Corporate docs
Subsidiaries
A and M Signalling Services Private Limited • Aero Transportation Products, Inc • A M Rail Group Limited • A M Signalling Design Limited • Annax GmbH • Annax Scheiz AG • Annax (Suzhou) Rail Systems Co., Ltd • Ateliers Hubert Gerken S.A. • Austbreck Pty, Ltd. • Barber Steel Foundry Corp. ...
IRS number
251615902
WAB stock data
News
Morgan Stanley Maintains Equal-Weight on Westinghouse Air Brake, Raises Price Target to $87
8 Aug 22
Expert Ratings for Westinghouse Air Brake
8 Aug 22
Stephens & Co. Maintains Overweight on Westinghouse Air Brake, Raises Price Target to $110
8 Aug 22
Wabtec Reports Mixed Q2 Results; Tightens FY22 EPS View
5 Aug 22
Wabtec (WAB) Beats Q2 Earnings Estimates, Ups 2022 EPS View
5 Aug 22
Press releases
Wabtec Reports Strong 2nd Quarter 2022 Results
5 Aug 22
Union Pacific Signs Largest Locomotive Modernization Deal in Rail Industry History with Wabtec
27 Jul 22
Wabtec Declares Regular Quarterly Common Dividend
22 Jul 22
Wabtec to Improve Metropolitan Atlanta Rapid Transit Authority Passenger Comfort with new HVAC Systems
20 Jul 22
Wabtec Announces Second Quarter 2022 Earnings Release Date
12 Jul 22
Analyst ratings and price targets
Current price
Average target
$99.33
Low target
$87.00
High target
$110.00
Morgan Stanley
Maintains
$87.00
Stephens & Co.
Maintains
$110.00
Atlantic Equities
Initiated
$101.00
Calendar
5 Aug 22
12 Aug 22
31 Dec 22
Financial summary
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Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
3 Aug 22 | Nicole B Theophilus | Common Stock | Payment of exercise | Dispose F | No | No | 91.5 | 308 | 28.18K | 15,873 |
21 Jul 22 | Beverley A Babcock | Phantom Stock Common Stock | Grant | Acquire A | No | No | 0 | 1,550 | 0 | 1,550 |
18 May 22 | Harty Linda S | Common Stock - Direct | Grant | Acquire A | No | No | 0 | 1,817 | 0 | 12,259 |
18 May 22 | Kassling William E | Common Stock - Direct | Grant | Acquire A | No | No | 0 | 1,817 | 0 | 76,488.2 |
Institutional ownership, Q1 2022
89.7% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 757 |
Opened positions | 88 |
Closed positions | 88 |
Increased positions | 234 |
Reduced positions | 258 |
13F shares | Current |
---|---|
Total value | 15.75B |
Total shares | 163.82M |
Total puts | 186.2K |
Total calls | 364.9K |
Total put/call ratio | 0.5 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 19.13M | $1.84B |
Wellington Management | 11.97M | $1.15B |
BLK Blackrock | 11.96M | $1.15B |
PZN Pzena Investment Management | 10M | $961.49M |
STT State Street | 7.27M | $699.3M |
BEN Franklin Resources | 6.4M | $615.7M |
Farallon Capital Management | 4.91M | $472M |
JHG Janus Henderson | 4.68M | $449.97M |
IVZ Invesco | 3.95M | $379.51M |
Geode Capital Management | 3.49M | $334.84M |
Financial report summary
?Risks
- RISKS RELATED TO OUR BUSINESS AND OPERATIONS
- We are dependent upon key customers.
- Our business operates in a highly competitive industry.
- A failure to predict and react to customer demand could adversely affect our business.
- We may fail to respond adequately or in a timely manner to innovative changes in new technology.
- Our revenues are subject to cyclical variations in the railway and passenger transit markets and changes in government spending.
- Our backlog is not necessarily indicative of the level of our future revenues.
- Equipment failures, interruptions, delays in deliveries or extensive damage to our facilities, supply chains, distribution systems or information technology systems, could adversely affect our business.
- Disruption of our supply chain could have an adverse impact on our business, financial condition, and results of operations.
- We intend to pursue acquisitions, joint ventures and alliances that involve a number of inherent risks, any of which may cause us not to realize anticipated benefits.
- The integration of our recently completed acquisitions may not result in anticipated improvements in market position or the realization of anticipated operating synergies or may take longer to realize than expected.
- The effects of COVID-19 and other potential future public health crises, epidemics, pandemics or similar events on our business, operating results and cash flows are uncertain.
- A growing portion of our sales may be derived from our international operations, which exposes us to certain risks inherent in doing business on an international level.
- We may incur increased costs due to fluctuations in interest rates and foreign currency exchange rates
- We have substantial operations located in emerging markets, and are subject to regulatory, economic, social and political uncertainties in such markets.
- RISKS RELATED TO MACRO-ECONOMIC CONDITIONS AND POLICIES
- Prolonged unfavorable economic and market conditions could adversely affect our business.
- We may be exposed to raw material shortages, supply shortages and fluctuations in raw material, energy and commodity prices.
- Changes to international trade policies, including tariffs and foreign trade restrictions, could adversely affect our business.
- LEGAL AND REGULATORY RISKS
- We are subject to a variety of laws and regulations, including anti-corruption laws, in various jurisdictions.
- We are subject to a variety of environmental laws and regulations.
- Future climate change regulation could result in increased operating costs, affect the demand for our products or affect the ability of our critical suppliers to meet our needs.
- The occurrence of litigation in which we are, or could be, named as a defendant is unpredictable.
- Our manufacturer’s warranties or product liability may expose us to potentially significant claims.
- RISKS RELATED TO DATA SECURITY AND INTELLECTUAL PROPERTY
- If we are not able to protect our intellectual property and other proprietary rights, we may be adversely affected.
- We face cybersecurity and data protection risks relating to cyber-attacks and information technology failures that could cause loss of confidential information and other business disruptions.
- RISKS RELATED TO HUMAN CAPITAL
- Labor shortages and labor disputes may have a material adverse effect on our operations and profitability.
- We rely on our management team and other key personnel.
- RISKS RELATED TO OUR INDEBTEDNESS
- Our indebtedness could adversely affect our financial health.
- The indentures for our outstanding senior notes and our Credit Agreement contain various covenants that limit our management’s discretion in the operation of our businesses.
Management Discussion
- Net sales for the three months ended June 30, 2022 increased by $36 million, or 1.8%, to $2.05 billion compared to the same period in 2021. Freight Segment organic sales increased $165 million driven primarily by Services sales from higher locomotive modernizations and a decrease in locomotive parkings. In addition, Equipment sales increased due to higher international locomotive deliveries and higher mining equipment sales, and Components sales increased due to a higher railcar build and growth in industrial end-markets. Transit Segment organic sales decreased $59 million primarily due to supply chain issues caused by the COVID-19 pandemic and the prior year exit of low margin businesses and contracts in the United
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Avg
|
New words:
accomplished, ahead, assessment, counsel, incident, investigation, marine, notified, proactive, promptly, shutting, size
Removed:
recur, withholding
Financial reports
Current reports
8-K
Results of Operations and Financial Condition
5 Aug 22
8-K
Union Pacific Signs Largest Locomotive Modernization Deal
27 Jul 22
8-K
Other Events
25 Jul 22
8-K
Wabtec Appoints Beverley Babcock to Board of Directors
1 Jul 22
8-K
Other Events
15 Jun 22
8-K
Departure of Directors or Certain Officers
24 May 22
8-K
Wabtec Reports Strong 1st Quarter 2022 Results
27 Apr 22
8-K
Departure of Directors or Certain Officers
6 Apr 22
8-K
Regulation FD Disclosure
9 Mar 22
8-K
Wabtec Reports Strong 4th Quarter 2021 Results
16 Feb 22
Registration and prospectus
424B2
Prospectus for primary offering
28 May 21
FWP
Free writing prospectus
27 May 21
424B5
Prospectus supplement for primary offering
27 May 21
FWP
Free writing prospectus
20 May 21
S-3ASR
Automatic shelf registration
19 May 21
S-8
Registration of securities for employees
18 Feb 21
S-3ASR
Automatic shelf registration
11 Sep 20
S-3ASR
Automatic shelf registration
29 Jul 20
424B5
Prospectus supplement for primary offering
18 Jun 20
FWP
Free writing prospectus
16 Jun 20
Proxies
DEFA14A
Additional proxy soliciting materials
5 Apr 22
DEFA14A
Additional proxy soliciting materials
10 May 21
DEFA14A
Additional proxy soliciting materials
7 Apr 21
DEFA14A
Additional proxy soliciting materials
7 May 20
DEFA14A
Additional proxy soliciting materials
4 May 20
DEFA14A
Additional proxy soliciting materials
3 Apr 20
DEF 14A
Definitive proxy
3 Apr 20
DEFA14A
Additional proxy soliciting materials
5 Apr 19
Other
SD
Conflict minerals disclosure
31 May 22
SD
Conflict minerals disclosure
1 Jun 21
UPLOAD
Letter from SEC
24 Jun 20
CORRESP
Correspondence with SEC
14 Jun 20
UPLOAD
Letter from SEC
2 Jun 20
SD
Conflict minerals disclosure
29 May 20
EFFECT
Notice of effectiveness
12 Feb 19
CORRESP
Correspondence with SEC
10 Feb 19
CORRESP
Correspondence with SEC
24 Jan 19
UPLOAD
Letter from SEC
29 Nov 18
Ownership
4
WESTINGHOUSE AIR BRAKE TECHNOLOGIES / Nicole B Theophilus ownership change
5 Aug 22
SC 13G/A
WESTINGHOUSE AIR BRAKE TECHNOLOGIES / PZENA INVESTMENT MANAGEMENT ownership change
5 Aug 22
4
WESTINGHOUSE AIR BRAKE TECHNOLOGIES / Beverley A Babcock ownership change
25 Jul 22
3
WESTINGHOUSE AIR BRAKE TECHNOLOGIES / Beverley A Babcock ownership change
1 Jul 22
11-K
Annual report of employee stock purchases
29 Jun 22
4
WESTINGHOUSE AIR BRAKE TECHNOLOGIES / LEE C BANKS ownership change
20 May 22
4
WESTINGHOUSE AIR BRAKE TECHNOLOGIES / Byron S. Foster ownership change
20 May 22
4
WESTINGHOUSE AIR BRAKE TECHNOLOGIES / Ann R. Klee ownership change
20 May 22
4
WESTINGHOUSE AIR BRAKE TECHNOLOGIES / Brian Hehir ownership change
20 May 22
4
WESTINGHOUSE AIR BRAKE TECHNOLOGIES / ALBERT J NEUPAVER ownership change
20 May 22
Patents
Utility
Vehicle Location Determining System and Method
11 Aug 22
A system and method include a control unit configured to detect a presence of a vehicle within a route area based on sensor signals output by an observer device that monitors the route area.
Utility
Derailing System
11 Aug 22
A derailing system includes a derailer device and an electronic communication unit.
Utility
Slack adjuster main spring housing contaminant sump
2 Aug 22
A drainage system for use with a slack adjuster for a railway brake rigging wherein the slack adjuster includes a main spring housing, a cone nut housing enclosing a critical operating area of the slack adjuster, and an over travel housing.
Utility
Vehicle control system
19 Jul 22
A system and method determine that a vehicle system is beginning rearward movement based on one or more characteristics of the vehicle system that are monitored by a movement sensor.
Utility
Vehicle Track Pad Assembly and Method
14 Jul 22
A track pad assembly for a continuous track vehicle includes a track plate and a polymer pad.
Transcripts
2022 Q2
Earnings call transcript
5 Aug 22
2022 Q1
Earnings call transcript
27 Apr 22
2021 Q4
Earnings call transcript
16 Feb 22
2021 Q3
Earnings call transcript
27 Oct 21
2021 Q2
Earnings call transcript
29 Jul 21
2021 Q1
Earnings call transcript
29 Apr 21
2020 Q4
Earnings call transcript
18 Feb 21
2020 Q3
Earnings call transcript
29 Oct 20
2020 Q2
Earnings call transcript
28 Jul 20
2020 Q1
Earnings call transcript
4 May 20
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