Wabtec Q1 Report 2023

Highlights

• Sales
  • $2.19B Up 13.9% YoY
• Operating margin
  • 12.6% GAAP  16.4% Adjusted
• Earnings per share
  • $0.93 GAAP $1.28 Adjusted
• CASH Flow from operations
  • ($25M)
• Multi-Year Backlog
  • $22.33B

Overview

• Increased sales were driven by strong Freight segment growth … excluding impacts of FX, sales were up 16.8% YoY
• Operating margin benefited from higher sales growth and lower SG&A as a percentage of sales
• GAAP EPS up 16.3% … Adjusted EPS up 13.3% YoY from higher Freight sales
• Operating cash flow was impacted by seasonally low cash generation quarter and higher working capital
• Backlog provides improved multi-year visibility … 12-month backlog up 4.4% to a new high of $6.9 billion