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