Press Releases

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.

Wabtec Corporation (NYSE: WAB) announced it will report 2019 second quarter results before the U.S. financial markets open on July 30, 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 and click on “Events & Presentations” in the “Investor Relations” section. An audio replay of the call will be available by calling 412-317-0088 (passcode: 466#).

Wabtec (NYSE: WAB) announced today that it is collaborating with Calgary-based Hifi Engineering to enhance digital technologies that monitor asset health to predict and prevent failures at mine sites. By incorporating Hifi’s leading-edge fiber optic sensing technologies with Wabtec’s Digital Mine solutions, mine operators can monitor the integrity of critical pipeline assets used to transport ore more efficiently, over long distances, and through environmentally sensitive areas.

Wabtec Corporation (NYSE: WAB) was selected to provide fully integrated Positive Train Control (PTC), digital imaging, and data transfer and analytics capabilities for Iowa Northern Railway Company, marking Wabtec’s first such deal since closing its merger with GE Transportation. Under the contract, Wabtec will provide an integrated offering, including its Interoperable Electronic Train Management System (I-ETMS®) PTC safety-overlay solution, LDRS-V video recorder, training, and system integration services across Iowa Northern Railway’s entire locomotive fleet.

Wabtec Corporation (NYSE: WAB) and the United Electrical, Radio and Machine Workers of America Local 506 and 618 today reached a tentative agreement on a new four-year contract with good wages and benefits, pending ratification by the 1,700 UE members.

Wabtec (NYSE: WAB) announced today that its Digital Mine organization is collaborating with Webalo, Inc. to enhance and enrich the user experience for its mining customers. Mine operators need digital technologies to drive more productivity out of their mine sites while balancing the challenge of gaining full and actionable visibility into the massive amounts of data that they are capturing every day. By incorporating Webalo’s Connected Worker and Control Tower functionality with Wabtec’s Digital Mine Operations Performance Management solution, the resulting capability brings disparate enterprise and operational data into a “single-pane-of-glass” to accelerate productivity across the mine site.

Wabtec Corporation (NYSE: WAB) announced today that its Board of Directors declared a regular quarterly common dividend of 12 cents per share, payable on August 23, 2019 to holders of record as of August 9, 2019.

Wabtec (NYSE: WAB) was selected to implement the Positive Train Control (PTC) system for the New Mexico Rail Runner Express (NMRX), in an order worth $55 million. Building on ongoing design work, Wabtec will provide full system integration for deployment of PTC on NMRX’s full fleet of 18 locomotives/cab cars and nearly 100 miles of track extending from Belen to Santa Fe.

Wabtec Corporation (NYSE: WAB) announced today engine orders with two leading companies in the marine industry. The deals build upon the company’s position in the maritime market.

Wabtec (NYSE: WAB) shareholders today elected two directors and approved other company proposals at its annual meeting in Pittsburgh. Directors elected were: William E. Kassling and Albert J. Neupaver.

Wabtec Corporation (NYSE: WAB) announced today its investment in GE Additive’s (NYSE: GE) H2 binder jet printer capabilities. This first-of-its kind order will accelerate Wabtec’s growing additive strategy and its application to the transportation industry. Terms of the agreement were not disclosed.

Wabtec Corporation (NYSE: WAB) (“Wabtec”) today announced the pricing of an underwritten secondary offering of 22,000,000 shares of Wabtec common stock at a public offering price of $73.50 by General Electric Company (“GE”), as the sole selling stockholder. The offering is expected to close on or about May 6, 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 3,300,000 shares. Wabtec will not receive any proceeds from the sale of the shares by the selling stockholder in this offering.

Wabtec Corporation and the United Electrical, Radio and Machine Workers of America Local 610 today reached agreement on a three-year contract for the Wilmerding and Greensburg, Pennsylvania sites. The agreement positions the facilities to remain competitive in today’s challenging markets, while providing good wages, meaningful benefits and rewarding work for employees.