Wabtec Reports Strong Second Quarter 2026 Results, Announces Increase to Full-Year Revenue & Adjusted EPS Guidance

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Postmedia has not reviewed the content. by Business Wire Wabtec Reports Strong Second Quarter 2026 Results, Announces Increase to Full-Year Revenue & Adjusted EPS GuidanceAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Sales Growth of 17.5% to $3.18 Billion Driven by Both the Freight and Transit SegmentsGAAP Operating Margin at 18.9%; Adjusted Operating Margin Up 0.8 pts to 21.9%Strong Multi-year Backlog at $30.93 Billion; 12-month Backlog Growth at 11.3%GAAP Earnings Per Share of $2.33, Up 18.9%; Adjusted Earnings Per Share of $2.76, Up 21.6%THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountPITTSBURGH — Wabtec Corporation (NYSE: WAB) today reported second quarter 2026 GAAP earnings per diluted share of $2.33, up 18.9% versus the second quarter of 2025. Adjusted earnings per diluted share were $2.76, up 21.6% versus the same quarter a year ago. Second quarter sales were $3.18 billion and cash from operations was $441 million.“Wabtec delivered a strong first half, with solid second quarter execution across our businesses driving robust sales growth, margin expansion and a 22% increase in adjusted EPS growth,” said Rafael Santana, Wabtec’s Chairman and CEO.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“The strength of our performance reflects the resilience of our portfolio, the impact of our innovative solutions and the disciplined execution from our teams. During the quarter, we continued to build momentum through strategic commercial awards and the successful integrations of our recent acquisitions, further enhancing our market position and expanding our long-term growth opportunities.“With a strong foundation, a talented global team, and significant opportunities ahead, we are well positioned to deliver profitable growth and continue to compound shareholder value.”2026 Second Quarter Consolidated ResultsWabtec Corporation Consolidated Financial Results$ in millions except earnings per share and percentages; margin change in percentage points (pts)Second Quarter20262025ChangeNet Sales$3,179$2,70617.5%GAAP Gross Margin36.5%34.7%1.8 ptsAdjusted Gross Margin36.7%34.8%1.9 ptsGAAP Operating Margin18.9%17.4%1.5 ptsAdjusted Operating Margin21.9%21.1%0.8 ptsGAAP Diluted EPS$2.33$1.9618.9%Adjusted Diluted EPS$2.76$2.2721.6%Cash Flow from Operations$441$209$232Operating Cash Flow Conversion82%46%Sales increased 17.5% compared to the year-ago quarter driven by higher sales in the Freight and Transit segments, which includes the acquisitions of Inspection Technologies, Frauscher Sensor Technologies, and Dellner Couplers.GAAP operating margin was higher than the prior year at 18.9%, and adjusted operating margin was higher than the prior year at 21.9%. Both GAAP and adjusted operating margins benefited from robust sales growth and improved gross margins in the quarter.GAAP EPS and adjusted EPS increased from the year-ago quarter primarily due to higher sales and operating margin expansion.2026 Second Quarter Freight Segment ResultsWabtec Corporation Freight Segment Financial ResultsNet sales $ in millions; margin change in percentage points (pts)Second Quarter20262025ChangeNet Sales$2,243$1,91916.9%GAAP Gross Margin38.1%36.3%1.8 ptsAdjusted Gross Margin38.1%36.4%1.7 ptsGAAP Operating Margin22.5%21.6%0.9 ptsAdjusted Operating Margin25.8%25.0%0.8 ptsFreight segment sales for the second quarter were up 16.9%. Equipment sales were up 35.0% driven by higher locomotive deliveries, while Services sales were down 4.2% due to lower modernization deliveries, as expected. Digital sales were up 88.5% driven by the acquisitions of Inspection Technologies and Frauscher Sensor Technologies.GAAP and adjusted operating margin benefited from gross margin improvements which was partially offset by higher operating expenses as a percentage of revenue.2026 Second Quarter Transit Segment ResultsWabtec Corporation Transit Segment Financial ResultsNet sales $ in millions; margin change in percentage points (pts)Second Quarter20262025ChangeNet Sales$936$78718.9%GAAP Gross Margin32.8%30.7%2.1 ptsAdjusted Gross Margin33.3%30.9%2.4 ptsGAAP Operating Margin15.6%13.9%1.7 ptsAdjusted Operating Margin17.7%15.2%2.5 ptsTransit segment sales for the second quarter were up 18.9% driven by the acquisition of Dellner Couplers, higher OE and aftermarket sales, and favorable foreign currency exchange. Sales were up 17.7% on a constant currency basis.GAAP and adjusted operating margins were up as a result of improved gross margins. GAAP gross margins were partially offset by higher operating expenses as a percent of revenue.BacklogWabtec Corporation Consolidated Backlog ComparisonBacklog $ in millionsJune 30,20262025Change12-Month Backlog$9,140$8,21011.3%Total Backlog$30,932$21,82841.7%The Company’s multi-year backlog continues to provide strong visibility. At June 30, 2026, the 12-month backlog was $0.93 billion higher than the prior year period. At June 30, 2026, the multi-year backlog was $9.10 billion higher than the prior year period, and excluding foreign currency exchange, the multi-year backlog was $9.02 billion higher, up 41.3%.Cash Flow and Liquidity SummaryDuring the second quarter, the Company generated cash from operations of $441 million versus $209 million in the year ago period. The increase in cash was driven by higher net income and favorable working capital.At the end of the quarter, the Company had cash, cash equivalents and restricted cash of $0.67 billion and total debt of $6.57 billion. At June 30, 2026, the Company’s total available liquidity was $2.02 billion, which includes $0.66 billion in cash and cash equivalents plus $1.36 billion available under current credit facilities.During the quarter, the Company repurchased $215 million of Wabtec shares and paid $53 million in dividends.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Wabtec increased its 2026 revenue guidance range to $12.30 billion to $12.60 billion, raising it $110 million at the midpoint, or up 11.5% versus prior year.Wabtec increased its 2026 adjusted EPS guidance range to $10.60 – $10.90, raising it $0.30 at the midpoint, or up 19.9% versus prior year.Forecasted GAAP Earnings ReconciliationWabtec is not presenting a quantitative reconciliation of our forecasted GAAP earnings per diluted share to forecasted adjusted earnings per diluted share because it is unable to predict with reasonable certainty and without unreasonable effort the impact and timing of restructuring-related and other charges, including acquisition-related expenses and the outcome of certain regulatory, legal and tax matters. The financial impact of these items is uncertain and is dependent on various factors, including timing, and could be material to our Consolidated Statements of Earnings.Conference Call InformationWabtec will host a call with analysts and investors at 8:30 a.m. ET, today. To listen via webcast, go to Wabtec’s website at www.WabtecCorp.com and click on “Events & Presentations” in the “Investor Relations” section. Also, an audio replay of the call will be available by calling 1-855-669-9658 or 1-412-317-0088 (access code: 2758919).Wabtec Corporation (NYSE: WAB) is revolutionizing the way the world moves for future generations. The company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 155 years and has a vision to achieve a sustainable rail system in the U.S. and worldwide. Visit Wabtec’s website at www.wabteccorp.com.Information about non-GAAP Financial Information and Forward-Looking StatementsWabtec’s earnings release and 2026 financial guidance mentions certain non-GAAP financial performance measures, including adjusted gross profit, adjusted operating expenses, adjusted operating margin, adjusted gross margin, EBITDA, adjusted EBITDA, adjusted income tax expense, adjusted income from operations, adjusted interest and other expense, adjusted net income, adjusted earnings per diluted share and operating cash flow conversion. Wabtec defines EBITDA as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is further adjusted by restructuring costs. Wabtec defines operating cash flow conversion as net cash provided by operating activities divided by net income plus depreciation and amortization including deferred debt cost amortization. While Wabtec believes these are useful supplemental measures for investors, they are not presented in accordance with GAAP. Investors should not consider non-GAAP measures in isolation or as a substitute for net income, cash flows from operations, or any other items calculated in accordance with GAAP. In addition, the non-GAAP financial measures included in this release have inherent material limitations as performance measures because they add back certain expenses incurred by the Company to GAAP financial measures, resulting in those expenses not being taken into account in the applicable non-GAAP financial measure. Because not all companies use identical calculations, Wabtec’s presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. Included in this release are reconciliation tables that provide details about how adjusted results relate to GAAP results.This communication contains “forward-looking” statements as that term is defined in Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. All statements, other than historical facts, including statements regarding Wabtec’s plans, objectives, expectations and intentions; Wabtec’s expectations about future sales, earnings and cash conversion; and any assumptions underlying any of the foregoing, are forward-looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue,” “target” or other similar words or expressions. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) changes in general economic and/or industry specific conditions, including the impacts of significant recent shifts in trade policies (including the actual or threatened imposition of tariffs and retaliatory tariff measures) as well as tax programs, inflation, supply chain disruptions, foreign currency exchange and industry consolidation and market reactions to these factors; (2) changes in the financial condition or operating strategies of Wabtec’s customers; (3) unexpected costs, charges or expenses resulting from acquisitions and potential failure to realize synergies and other anticipated benefits of acquisitions, including as a result of integrating acquired targets into Wabtec; (4) inability to retain and hire key personnel; (5) evolving legal, regulatory and tax regimes; (6) changes in the expected timing of projects; (7) a decrease in freight or passenger rail traffic; (8) an increase in manufacturing costs; (9) actions by third parties, including government agencies; (10) the impacts of epidemics, pandemics or similar public health crises on the global economy and, in particular, our customers, suppliers and end-markets, (11) potential disruptions, instability and volatility in global markets as a result of global military action, acts of terrorism or armed conflict, including Russia’s invasion of Ukraine and ongoing military conflicts in the Middle East; (12) cybersecurity and data protection risks and (13) other risk factors as detailed from time to time in Wabtec’s reports filed with the SEC, including Wabtec’s annual report on Form 10-K, periodic quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC. The foregoing list of important factors is not exclusive. Any forward-looking statements speak only as of the date of this communication. Wabtec does not undertake any obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025 (AMOUNTS IN MILLIONS EXCEPT PER SHARE DATA) (UNAUDITED)Three Months EndedSix Months EndedJune 30,June 30,2026202520262025Net sales$3,179$2,706$6,129$5,316Cost of sales(2,018)(1,768)(3,907)(3,478)Gross profit1,1619382,2221,838Gross profit as a % of Net Sales36.5%34.7%36.2%34.6%Selling, general and administrative expenses(400)(347)(801)(654)Engineering expenses(70)(50)(126)(96)Amortization expense(91)(69)(178)(142)Total operating expenses(561)(466)(1,105)(892)Operating expenses as a % of Net Sales17.6%17.2%18.0%16.8%Income from operations6004721,117946Income from operations as a % of Net Sales18.9%17.4%18.2%17.8%Interest expense, net(80)(46)(151)(92)Other (expense) income, net(2)242122Income before income taxes518450987876Income tax expense(122)(111)(228)(210)Effective tax rate23.4%24.8%23.1%24.0%Net income396339759666Less: Net income attributable to noncontrolling interest(1)(3)(2)(8)Net income attributable to Wabtec shareholders$395$336$757$658Earnings Per Common ShareBasicNet income attributable to Wabtec shareholders$2.33$1.96$4.45$3.84DilutedNet income attributable to Wabtec shareholders$2.33$1.96$4.44$3.84Basic169.1170.6169.5170.6Diluted169.6171.2170.1171.2Segment InformationFreight Net Sales$2,243$1,919$4,358$3,820Freight Income from Operations$504$415$954$835Freight Operating Margin22.5%21.6%21.9%21.9%Transit Net Sales$936$787$1,771$1,496Transit Income from Operations$146$109$267$199Transit Operating Margin15.6%13.9%15.1%13.3%Backlog Information (Note: 12-month is a sub-set of total) June 30, 2026 March 31, 2026 June 30, 2025Freight Total$25,332$25,175$17,136Transit Total5,6005,6274,692Wabtec Total$30,932$30,802$21,828Freight 12-Month$6,638$6,679$6,024Transit 12-Month2,5022,5682,186Wabtec 12-Month$9,140$9,247$8,210WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) June 30, 2026 December 31, 2025 In millionsCash, cash equivalents and restricted cash$670$789Receivables, net2,1691,897Inventories, net2,8572,745Other current assets345263Total current assets6,0415,694Property, plant and equipment, net1,6531,616Goodwill10,60310,216Other intangible assets, net4,1223,838Other noncurrent assets709705Total assets$23,128$22,069Current liabilities$5,387$5,150Long-term debt4,9154,291Long-term liabilities – other1,5821,438Total liabilities11,88410,879Shareholders’ equity11,21411,142Noncontrolling interest3048Total shareholders’ equity11,24411,190Total Liabilities and Shareholders’ Equity$23,128$22,069WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)Six Months Ended June 30,20262025 In millionsOperating activitiesNet income$759$666Non-cash expense310219Receivables(229)(243)Inventories(35)(180)Accounts Payable2074Other operating activities(185)(136)Net cash provided by operating activities640400Net cash used for investing activities(1,160)(98)Net cash provided by financing activities408454Effect of changes in currency exchange rates(7)28(Decrease) increase in cash(119)784Cash, cash equivalents and restricted cash, beginning of period789715Cash, cash equivalents and restricted cash, end of period$670$1,499Set forth below is the calculation of the non-GAAP performance measures included in this press release. We believe that these measures provide useful supplemental information to assess our operating performance and to evaluate period-to-period comparisons. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, Wabtec’s reported results prepared in accordance with GAAP.Wabtec CorporationReconciliation of Reported Results to Adjusted Results(in millions)Second Quarter 2026 Actual ResultsGrossOperatingIncome fromInterest &NoncontrollingWabtec Net Sales Profit Expenses Operations Other Exp Tax Net Income Interest Net Income EPSReported Results$3,179$1,161$(561)$600$(82)$(122)$396$(1)$395$2.33Restructuring and Portfolio Optimization costs–––––––––$–Inventory Purchase Accounting charge–5–5–(2)3–3$0.02Transaction costs––11––1–1$–Non-cash Amortization expense––9191–(21)70–70$0.41Adjusted Results$3,179$1,166$(469)$697$(82)$(145)$470$(1)$469$2.76Fully Diluted Shares Outstanding169.6Wabtec CorporationReconciliation of Reported Results to Adjusted Results(in millions)Second Quarter Year-to-Date 2026 Actual ResultsGrossOperatingIncome fromInterest &NoncontrollingWabtec Net Sales Profit Expenses Operations Other Exp Tax Net Income Interest Net Income EPSReported Results$6,129$2,222$(1,105)$1,117$(130)$(228)$759$(2)$757$4.44Restructuring and Portfolio Optimization costs–325–(1)4–4$0.02Inventory Purchase Accounting charge–28–28–(7)21–21$0.13Transaction costs––1414(2)–12–12$0.07Non-cash Amortization expense––178178–(41)137–137$0.80Adjusted Results$6,129$2,253$(911)$1,342$(132)$(277)$933$(2)$931$5.46Fully Diluted Shares Outstanding170.1Wabtec CorporationReconciliation of Reported Results to Adjusted Results(in millions)Second Quarter 2025 Actual ResultsGrossOperatingIncome fromInterest &NoncontrollingWabtec Net Sales Profit Expenses Operations Other Exp Tax Net Income Interest Net Income EPSReported Results$2,706$938$(466)$472$(22)$(111)$339$(3)$336$1.96Restructuring and Portfolio Optimization costs–336–(2)4–4$0.02Transaction costs––2525(32)4(3)–(3)$(0.02)Non-cash Amortization expense––6969–(17)52–52$0.31Adjusted Results$2,706$941$(369)$572$(54)$(126)$392$(3)$389$2.27Fully Diluted Shares Outstanding171.2Wabtec CorporationReconciliation of Reported Results to Adjusted Results(in millions)Second Quarter Year-to-Date 2025 Actual ResultsGrossOperatingIncome fromInterest &NoncontrollingWabtec Net Sales Profit Expenses Operations Other Exp Tax Net Income Interest Net Income EPSReported Results$5,316$1,838$(892)$946$(70)$(210)$666$(8)$658$3.84Restructuring and Portfolio Optimization costs–6915–(4)11–11$0.06Transaction costs––3535(32)25–5$0.03Non-cash Amortization expense––141141–(34)107–107$0.62Adjusted Results$5,316$1,844$(707)$1,137$(102)$(246)$789$(8)$781$4.55Fully Diluted Shares Outstanding171.2Set forth below is the calculation of the non-GAAP performance measures included in this press release. We believe that these measures provide useful supplemental information to assess our operating performance and to evaluate period-to-period comparisons. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, Wabtec’s reported results prepared in accordance with GAAP.Wabtec Corporation2026 Q2 EBITDA Reconciliation(in millions)Reported Income+Other Income+Depreciation &= EBITDA+Restructuring &=Adjusted from Operations (Expense) Amortization Transaction Costs EBITDAConsolidated Results$600($2)$142$740$6$746Wabtec Corporation2026 Q2 YTD EBITDA Reconciliation(in millions)Reported Income+Other Income+Depreciation &= EBITDA+Restructuring &=Adjusted from Operations (Expense) Amortization Transaction Costs EBITDAConsolidated Results$1,117$21$279$1,417$45$1,462Wabtec Corporation2025 Q2 EBITDA Reconciliation(in millions)Reported Income+Other Income+Depreciation &= EBITDA+Restructuring &=Adjusted from Operations (Expense) Amortization Transaction Costs EBITDAConsolidated Results$472$24$115$611($3)$608Wabtec Corporation2025 Q2 YTD EBITDA Reconciliation(in millions)Reported Income+Other Income+Depreciation &= EBITDA+Restructuring &=Adjusted from Operations (Expense) Amortization Transaction Costs EBITDAConsolidated Results$946$22$234$1,202$14$1,216WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION SALES BY PRODUCT LINE (UNAUDITED)Three Months Ended June 30, In millions 2026 2025Freight SegmentEquipment$737$546Components398401Digital Intelligence360191Services748781Total Freight Segment$2,243$1,919Transit SegmentOriginal Equipment Manufacturer$411$353Aftermarket525434Total Transit Segment$936$787Six Months Ended June 30, In millions 2026 2025Freight SegmentEquipment$1,463$1,022Components755782Digital Intelligence678372Services1,4621,644Total Freight Segment$4,358$3,820Transit SegmentOriginal Equipment Manufacturer$792$675Aftermarket979821Total Transit Segment$1,771$1,496WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION RECONCILIATION OF REPORTED RESULTS TO ADJUSTED RESULTS – BY SEGMENT (UNAUDITED)Three Months Ended June 30,Six Months Ended June 30,2026202520262025 In millions Gross Profit Income from Operations Gross Profit Income from Operations Gross Profit Income from Operations Gross Profit Income from OperationsFreight Segment Reported Results$854$504$697$415$1,642$954$1,382$835Freight Segment Reported Margin38.1%22.5%36.3%21.6%37.7%21.9%36.2%21.9%Restructuring and Portfolio Optimization costs–(2)212144Inventory Purchase Accounting charge––––2020––Transaction costs–1–1–2–1Non-cash Amortization expense–76–63–152–128Freight Segment Adjusted Results$854$579$699$480$1,664$1,129$1,386$968Freight Segment Adjusted Margin38.1%25.8%36.4%25.0%38.2%25.9%36.3%25.3%Transit Segment Reported Results$307$146$241$109$580$267$456$199Transit Segment Reported Margin32.8%15.6%30.7%13.9%32.7%15.1%30.5%13.3%Restructuring and Portfolio Optimization costs––1513211Inventory Purchase Accounting charge55––88––Non-cash Amortization expense–15–6–26–13Transit Segment Adjusted Results$312$166$242$120$589$304$458$223Transit Segment Adjusted Margin33.3%17.7%30.9%15.2%33.3%17.2%30.7%14.9%WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION RECONCILIATION OF CHANGES IN NET SALES – BY SEGMENT (UNAUDITED)Three Months Ended June 30, In millions Freight Transit Consolidated2025 Net Sales$1,919$787$2,706Acquisitions16369232Portfolio Optimization (Divestitures/Exits)(11)(1)(12)Foreign Exchange141024Organic158712292026 Net Sales$2,243$936$3,179Change ($)324149473Change (%)16.9%18.9%17.5%Six Months Ended June 30, Freight Transit Consolidated2025 Net Sales$3,820$1,496$5,316Acquisitions347110457Portfolio Optimization (Divestitures/Exits)(21)(4)(25)Foreign Exchange345892Organic1781112892026 Net Sales$4,358$1,771$6,129Change ($)538275813Change (%)14.1%18.4%15.3%Set forth below is the calculation of the non-GAAP performance measures included in this press release. We believe that these measures provide useful supplemental information to assess our operating performance and to evaluate period-to-period comparisons. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, Wabtec’s reported results prepared in accordance with GAAP.Wabtec Corporation2026 Q2 Cash Conversion Calculation(in millions)Reported Cash÷ (Net Income+ Depreciation & Amortization)= Cash Conversion from OperationsConsolidated Results$441$396$14382%Wabtec Corporation2026 Q2 YTD Cash Conversion Calculation(in millions)Reported Cash÷ (Net Income+ Depreciation & Amortization)= Cash Conversion from OperationsConsolidated Results$640$759$28261%Wabtec Corporation2025 Q2 Cash Conversion Calculation(in millions)Reported Cash÷ (Net Income+ Depreciation & Amortization)= Cash Conversion from OperationsConsolidated Results$209$339$11746%Wabtec Corporation2025 Q2 YTD Cash Conversion Calculation(in millions)Reported Cash÷ (Net Income+ Depreciation & Amortization)= Cash Conversion from OperationsConsolidated Results$400$666$23744%View source version on businesswire.com: Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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