Shares of Pittsburgh, PA-based company Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation (WAB) ), have been benefiting from its consistent shareholder-friendly initiatives, as well as strength across its Freight and Transit segments. Bullish full-year 2024 earnings guidance looks encouraging and raises optimism about the stock. The positive sentiment surrounding WAB stock is evident from the fact that the Zacks Consensus Estimate for the third quarter and full-year 2024 earnin ...

Westinghouse Air Brake Technologies (WAB) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus E ...

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Financial Data and Key Metrics - Q2 sales were $2 64 billion, up 9 8% YoY, driven by strong performance in the Freight segment [102] - Adjusted EPS was $1 96, up 39% YoY, driven by higher sales and margin expansion [121] - Operating cash flow for Q2 was $235 million, with full-year cash conversion expected to exceed 90% [7] - Net-debt leverage ratio was 1 6x at the end of Q2, down from 2 4x YoY [2] - Adjusted operating margin improved to 19 3%, up 2 9 percentage points YoY [102] Business Line Performance - Freight segment sales grew 13 1% YoY, driven by equipment and components [112] - Equipment sales increased 36 4% YoY, driven by new locomotive deliveries and mining equipment sales [9] - Component sales rose 17 5% YoY, supported by industrial products and international sales [9] - Digital Intelligence sales grew 2 1% YoY, with international growth offsetting North American weakness [9] - Services sales increased 2 3% YoY, driven by higher overhauls and parts sales [9] - Transit segment sales grew 2 0% YoY, with aftermarket revenue up 10% [9] Market Performance - North America secured a multiyear order exceeding $600 million for Tier 4 locomotives, one of the largest in recent history [8] - International markets showed strength, with a 10-year service agreement in Brazil and a modernization order in Pakistan [95] - North American railcar deliveries are expected to be 38,000 in 2024, down from 45,000 in the previous year [100] Strategy and Industry Competition - The company is focusing on level-loading production to improve manufacturing efficiency and labor consistency [1] - Continued investment in decarbonization and digital technologies to enhance customer productivity and safety [117] - The Transit segment is benefiting from urbanization and decarbonization trends, driving demand for sustainable infrastructure [9] Management Commentary on Operating Environment and Outlook - Management expects mid-single-digit organic growth and double-digit EPS growth through the planning horizon [10] - The company is optimistic about the pipeline of opportunities across geographies, particularly in international markets [95] - Integration 2 0 and portfolio optimization initiatives are expected to drive significant cost savings by 2025 [121] Other Important Information - The company repurchased $200 million of shares and paid $35 million in dividends during the quarter [2] - The 12-month backlog was $7 3 billion, with a multi-year backlog of $22 billion [94] - The Transit segment's Green Friction braking solution is set to begin commercial operations in Greater Paris, reducing particle emissions by up to 90% [5] Q&A Session Summary Question: Details on the $600 million Tier 4 locomotive order in North America [11] - The order will be executed between 2025 and 2026 and was included in the Q2 backlog [107] Question: M&A pipeline and capital allocation strategy [15] - The M&A pipeline is robust, with a focus on driving higher ROIC and profitable growth [15] Question: North American rail customer inquiries and regulatory uncertainty [17] - Customers are operating within regulatory uncertainty, but no major shifts in behavior have been observed [137] Question: Digital Intelligence recovery in North America [22] - North American demand remains soft, but international growth is expected to continue, with recovery anticipated in 2024 [22] Question: Backlog trends and future visibility [33] - The 12-month backlog is strong, with a healthy pipeline supporting future growth [33] Question: Margin trends and guidance for the second half [43] - Margins are expected to moderate in the second half due to mix and absorption factors [45] Question: Efficiency levels post-COVID [50] - Efficiency levels have returned to pre-COVID levels, with strong operational performance in the first half [50] Question: Impact of the Chevron case on customer discussions [47] - No significant changes in customer behavior have been observed following the Chevron ruling [137] Question: Transit segment margin dynamics [76] - Transit margins are expected to improve, with growth driven by disciplined order intake and backlog profitability [54]

Sales Performance - Net sales for the three months ended June 30, 2024 increased by $237 million, or 9.8%, to $2.64 billion compared to the same period in 2023[7] - Net sales for the six months ended June 30, 2024 increased by $540 million, or 11.7%, to $5.14 billion compared to the same period in 2023[17] - Organic sales increased by $221 million, driven by both Freight and Transit Segments, with Freight Equipment sales benefiting from higher North American and international locomotive sales[7] - Transit Segment organic sales increased by $55 million, primarily driven by strong Aftermarket sales due to increased infrastructure investment[24] - Sales from acquisitions contributed $70 million in the Freight Segment, while unfavorable changes in foreign exchange rates decreased sales by $13 million[17] Operating Expenses - Total operating expenses increased by $33 million, or 8.0%, for the three months ended June 30, 2024, with operating expenses as a percentage of sales decreasing to 16.8% from 17.1%[8] - Selling, general and administrative expenses (SG&A) increased by $31 million, primarily due to higher employee compensation and costs to support increased sales volume[8] - Restructuring costs included in SG&A were $3 million for the three months ended June 30, 2024, related to Integration 2.0 initiatives[8] Cost of Sales - Freight Segment cost of sales increased by $213 million, with cost of sales as a percentage of net sales decreasing by 3.4 percentage points, indicating improved pricing and productivity[22] Interest Expense - Interest expense, net, decreased by $7 million to $96 million for the six months ended June 30, 2024, primarily due to lower average overall debt balances[18]

Westinghouse Air Brake Technologies (WAB) came out with quarterly earnings of $1.96 per share, beating the Zacks Consensus Estimate of $1.85 per share. This compares to earnings of $1.41 per share a year ago. These figures are adjusted for non-recurring items. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.77 on $2.59 billion in revenues for the coming quarter and $7.26 on $10.36 billion in revenu ...

Exhibit 99.1 https://files.reportify.cc/media/p Wabtec Reports Second Quarter 2024 Results Raised and Tightened Adjusted EPS Guidance | SALES | | GAAP DILUTED EARNINGS PER SHARE | | ADJUSTED DILUTED EARNINGS PER SHARE | | | --- | --- | --- | --- | --- | --- | | 2Q'24 | First Half '24 | 2Q'24 | First Half '24 | 2Q'24 | First Half '24 | | $2.64B | $5.14B | $1.64 | $3.17 | $1.96 | $3.85 | | +9.8%YOY | +11.7% YOY | +54.7% YOY | +58.5%YOY | +39.0% YOY | +43.1% YOY | Q2 2024 HIGHLIGHTS "The Wabtec team delivered ...

Wabtec has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missing once. The average beat is 11.5%. We expect Wabtec's performance in the to-be-reported quarter to be boosted by an uptick in total revenues. The Zacks Consensus Estimate for revenues is pegged at $2.62 billion, which indicates growth of 9% from the yearago levels. The top line is likely to have reflected strength across both Freight and Transit segments. WAB is ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ____________________________________ FORM 10-Q ____________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION (Exact name of registrant as specified in its charter) _______________________ ...

Exhibit 99.1 Wabtec Delivers First Quarter 2024 Results; Raises Full-Year Guidance | | 1Q 2024 | | | --- | --- | --- | | SALES | GAAP EARNINGS PER SHARE | ADJUSTED EARNINGS PER SHARE | | $2.50B | $1.53 | $1.89 | | +13.8%YOY | +64.5%YOY | +47.7%YOY | Q1 2024 HIGHLIGHTS "The Wabtec team delivered a strong start to 2024, continuing the momentum experienced in 2023. This was evidenced by higher sales, margin expansion, and increased earnings in the quarter," said Rafael Santana, Wabtec's President and CEO. "Loo ...