Press Releases

Wabtec Corporation (NYSE: WAB), a leading technology supplier for the freight and transit rail industries, inaugurated today the Wabtec India Engineering and Technology Center (WITEC) in Bengaluru. The company’s new center is a world-class facility designed to support growth and innovation.

Wabtec (NYSE: WAB) and infrastructure company Megha Engineering & Infrastructure Limited (MEIL) announced an agreement for 143 AC drill motors to support an upcoming onshore rig replacement project for India’s state-owned petroleum explorer, Oil and Natural Gas Corporation’s (ONGC). The deal will support ONGC in its efforts to replace their aging fleet of onshore drilling rigs.

Wabtec Corporation (NYSE: WAB) today announced a strategic initiative with Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, to transition business-critical applications of the global logistics leader, to cloud. This is part of Wabtec’s recent merger with GE Transportation.

Wabtec Corporation (NYSE: WAB) today reported earnings per diluted share of $0.48 and adjusted earnings per diluted share of $1.03 in the 2019 third quarter (see reconciliation table). The company generated GAAP cash from operations of $124 million for the quarter and affirmed its 2019 GAAP cash from operations guidance of about $900 million. Wabtec also updated its full-year guidance for adjusted sales of about $8.2 billion and adjusted earnings per diluted share to between $4.15 to $4.20.

Wabtec Corporation (NYSE: WAB) announced today that its Board of Directors declared a regular quarterly common dividend of 12 cents per share, payable on November 29, 2019 to holders of record on November 15, 2019.

Factory completes one year of manufacturing, on track to roll out 100th India locomotive. Two years ago, at the same IREE event, legacy GE Transportation announced the arrival of its first 4500 horsepower (HP) locomotive at the Mundra Port. To date, there are 135 such locomotives in revenue service with the Indian Railways, including 85 that were fully manufactured in India and is set to have 70 percent local content. Wabtec’s 6000 HP diesel-electric locomotive, the first in India, is currently undergoing test trials on Indian Railways track and is expected to enter revenue service soon.

Wabtec Corporation (NYSE: WAB), a high-tech supplier for the freight and transit rail industries, today celebrated 150 years of innovation and the grand opening of its new headquarters in Pittsburgh. The company’s origins began in Western Pennsylvania with founder George Westinghouse Jr.’s invention of the automatic air brake – a breakthrough that redefined the transportation industry and saved lives

Wabtec Corporation (NYSE: WAB) announced it will report 2019 third quarter results before the U.S. financial markets open on Oct. 31, 2019. The company will conduct a conference call to discuss those results with analysts and investors at 10 a.m. ET the same day. To listen to the call via webcast, visit Wabtec’s website at www.WabtecCorp.com.

Today at Railway Interchange 2019, Wabtec Corporation (NYSE: WAB) announced two new offerings designed to modernize its global installed base of 23,000 locomotives. To maximize asset lifecycle value and reduce total cost of ownership for customers, Wabtec has developed a fuel-saving engine upgrade package, called “FDL Advantage,” for its FDL locomotive platform as well as a complete control system replacement. In addition to addressing industry imperatives for improved fuel efficiency and reliability, these solutions introduce next-generation data and software capabilities to position railroads for the future of transportation.

Wabtec Corporation’s Vapor Stone Rail Systems celebrated its continued investment in Plattsburgh with the grand opening of its plant on Arizona Ave. The new 60,000-sq-ft facility, which is the company’s second plant adjacent to the Plattsburgh International Airport, supports the company’s continued growth by increasing its manufacturing capabilities and adding warehouse space.

Wabtec Corporation (NYSE: WAB) today announced the pricing of an underwritten secondary offering of 20,485,156 shares of Wabtec common stock at a public offering price of $72.50 by General Electric Company (“GE”), as the sole selling stockholder. The offering is expected to close on or about August 9, 2019, subject to the satisfaction of customary closing conditions. The selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 2,048,515 shares. Wabtec will not receive any proceeds from the sale of the shares by the selling stockholder in this offering.

Wabtec Corporation (NYSE: WAB) today announced the launch of an underwritten secondary offering of 20,485,156 shares of Wabtec common stock by General Electric Company (“GE”), as the sole selling stockholder. The selling stockholder expects to grant the underwriters a 30-day option to purchase up to an additional 2,048,515 shares. Wabtec will not receive any proceeds from the sale of the shares by the selling stockholder in this offering.

Wabtec Corporation (NYSE: WAB) today reported earnings per diluted share of $0.54 and adjusted earnings per diluted share of $1.06 in the 2019 second quarter (see reconciliation table). The company generated GAAP cash from operations of $413 million for the quarter and raised its 2019 GAAP cash from operations guidance to about $900 million. Wabtec also updated its full-year guidance for sales of about $8.3 billion and adjusted earnings per diluted share to between $4.10 to $4.20.

Wabtec Corporation (NYSE: WAB) completed delivery of five diesel-electric PowerHaul® series locomotives to Körfez Ulaştırma A.Ş., the subsidiary of Turkey’s largest refinery Tüpraş operating in railway transportation.

Wabtec Corporation (NYSE: WAB) announced today the appointments of Rafael Santana, the Company’s president and CEO, and Ann Klee, long-time GE Vice President of Environment, Health and Safety, to its Board of Directors. Santana’s election was effective July 1. Klee is expected to join the Board in the fourth quarter of 2019.