Wabtec Q3 Report 2023

Highlights

• Sales
• $2.55B Up 22.5% YoY
• Operating margin
• 14.5% GAAP
• 17.9% Adjusted
• Earning per share
• $1.33 GAAP
• $1.70 Adjusted
• CASH Flow from operating
• $425M
• Multi-Year Backlog
• $21.48B

Overview

• Increased sales were driven by strong growth across the Freight and Transit segments
• Operating margin benefited from sales growth and lower SG&A as a percentage of sales
• GAAP EPS up 51.1% YoY … Adjusted EPS up 39.3% YoY from higher Freight and Transit sales and adjusted operating margin expansion
• Operating cash flow driven by significantly higher net income and improved inventory management
• Backlog provides multi-year visibility … 12-month backlog up 13.1% to $7.09 billion