“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,” President and CEO Rafael Santana said in an April 24 earnings announcement. Sales were up 13.8% year-over-year, driven by sales growth in both the Freight and Transit segments.
Wabtec Corporation on Nov. 6 released its 2023 Sustainability Report highlighting the company’s “vision and progress on key environmental, social and governance (ESG) commitments.”
Wabtec’s site in Grove City, Pennsylvania is one of the country’s premier diesel engine manufacturing plants. The team builds thousands of engines each year for locomotives and marine applications. In addition to those engines, the site now is producing a new product – power.
Members of the United Electrical, Radio and Machine Workers of America (UE), Locals 506 and 618, who work for Wabtec Corp.’s Erie County, Pa., rail plant voted on Aug. 31 to accept the manufacturing company’s latest offer, ending a 10-week strike.
Manufacturing operations at Wabtec Corp.’s Erie County, Pa., rail plant could end if a new labor agreement is not reached with some 1,400 striking union workers, County Executive Brenton Davis said Aug.
CN on July 26 announced an order to enhance an additional 60 locomotives in its existing fleet through Wabtec’s modernization program, supporting the Class I railroad’s “commitment to drive growth in a sustainable manner and build success for customers, employees and communities.”
American Seating reveals plans for new headquarters. Also, Wabtec Corp. (Wabtec) will invest $2.7 million to increase capacity in Virginia’s City of Salem; and the Florida Department of Transportation (FDOT) partners with Smart North Florida and TRAINFO in a pilot program aimed to ease traffic congestion at a railroad crossing in San Marco, Fla.
CSX on July 14 reported that testing of 20% soybean oil-based fuel in a locomotive fleet serving Tampa, Fla.-based phosphate customer Mosaic, which began in 2022 to demonstrate the effectiveness of the B20 biodiesel blend in Wabtec FDL Advantage engines, “continues to yield impressive results.”
Wabtec Corporation (Wabtec) on July 6 announced that it has won a contract to supply passenger information systems (PIS) and pantographs for up to 504 Stadler cars as part of the VDV Tram-Train project.
While we don’t know definitively, a part of Wabtec Corp.’s pre-owned locomotive order may not have been reflected in its guidance and could mean a mild incremental benefit, according to four rail and rail equipment expert panelists at TD Cowen’s June 27 virtual roundtable on the current state and outlook of the rail, locomotive, and railcar leasing and manufacturing markets.
