Press Releases

Wabtec Corporation (NYSE: WAB) published today its Green Finance Framework, supported by a second-party opinion from Sustainalytics, a Morningstar Company and a globally-recognized provider of ESG research, ratings and data. The company will utilize green financing instruments to accelerate the development of technologies that enable sustainable value creation for both the passenger and freight rail sectors.

Wabtec Corporation (NYSE: WAB) announced today a rail industry first as its FLXdrive battery-electric locomotive delivered more than an 11-percent average reduction in fuel consumption and greenhouse gas emissions for an entire train. It is the equivalent of over 6,200 gallons of diesel fuel saved and approximately 69 tons of CO2 emissions reduced.

Wabtec Corporation (NYSE: WAB) announced today it will support the Delhi-Meerut Regional Rapid Transport Systems (RRTS) with critical component orders valued at about $15 million for new rolling stock. The company will supply advanced technology brake systems, pantographs, roof disconnector switches and fully integrated passenger information systems to Alstom, which is building the coaches for the project.

Designed to help railroads achieve speed, efficiency, consistency, and visibility in scheduling for improved performance.

Wabtec Corporation (NYSE: WAB) today reported first quarter 2021 earnings per diluted share of $0.59 and adjusted earnings per diluted share of $0.89, versus earnings per diluted share of $0.58 and adjusted earnings per diluted share of $0.97 a year ago. Total sales were $1.8 billion and cash from operations was strong at $292 million.

Wabtec will deliver five V250MDC marine diesel engines (three 16V250MDC units and two 12V250MDC units). The Frederick Paup will be owned and operated by Manson Construction Co. and built at the Keppel AmFELS Shipyard in Brownsville, Texas.

Wabtec Corporation (NYSE: WAB) announced today it has signed a definitive agreement to acquire Nordco, a leading North American supplier of new, rebuilt and used maintenance of way equipment with a broad product and service portfolio including mobile railcar movers and ultrasonic rail flaw detection technologies, from Greenbriar Equity Group LP.

Wabtec Corporation (NYSE: WAB) secured an order to supply Siemens Mobility with several products for the London Underground’s Piccadilly Upgrade Program. The deal, valued at more than $70 million, is for brakes, air conditioning and ventilation (HVAC), passenger information systems, and third-rail current collectors.

PITTSBURGH, Feb. 26, 2021 — The Wabtec Foundation, the philanthropic arm of Wabtec Corporation (NYSE: WAB), today announced a donation of $30,000 to support local relief efforts in Texas following last week’s winter storm and destructive power outages. The donation will be split among three nonprofits: Salvation Army of North Texas, Tarrant Area Food Bank, and the Tarrant County Homeless Coalition.

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In the fourth quarter of 2020, Wabtec had cash from operations of $326 million, sales of $2.0 billion and GAAP earnings per diluted share of $0.46. Adjusted earnings per diluted share were $0.98 and excluded after-tax expenses of $0.20 for restructuring and transaction costs, $0.29 for non-cash amortization expense and $0.03 for tax on transactions costs (see reconciliation table).

PITTSBURGH, February 17, 2021 – Wabtec Corporation (NYSE: WAB) today announced that Erwan Faiveley has informed the company’s Board of Directors he does not intend to seek re-election at the company’s Annual Meeting in May 2021. Faiveley has served on the Wabtec Board since 2016.