Wabtec Half-Year Report 2023

Highlights

• Sales
  • $2.41B Up 17.5% YoY
• Operating margin
  • 12.9% GAAP
  • 16.4% Adjusted
• Earnings per share
  • $1.06 GAAP
  • $1.41 Adjusted
• CASH Flow from operations
  • $115M
• Multi-Year Backlog
  • $22.43B

Overview

• Increased sales were driven by strong growth across the Freight and Transit segments
• Operating margin benefited from higher sales growth and lower SG&A as a percentage of sales, offset by mix
• GAAP EPS up 16.5% YoY … Adjusted EPS up 14.6% YoY from higher Freight and Transit sales
• Operating cash flow driven by higher net income … tempered by higher working capital to support strong sales growth across the portfolio
• Backlog provides improved multi-year visibility … 12-month backlog up 10.0% to $7.2 billion