Wabtec Full-Year Report 2023

Highlights

• Sales
• $2.53B Up 9.5% YOY
• Operating margin
• 12.2% GAAP
• 17.0% Adjusted
• Earnings per share
• $1.20 GAAP
• $1.54 Adjusted
• CASH Flow from operations
• $686M
• 12-Month Backlog
• $7.46B

Overview

• Increased sales were driven by growth across the Freight and Transit segments
• Operating margin benefited from sales growth, increased gross margin and lower SG&A/Engineering expenses as a percentage of sales
• GAAP EPS up 39.5% YoY … Adjusted EPS up 18.5% YoY from higher Freight and Transit sales and operating margin expansion
• Operating cash flow driven by higher net income and improved working capital YoY
• Backlog continues to provide strong visibility … 12-month up 10.3% and multi-year backlog at $22.0 billion