Wabtec Corp. reported a “strong operational third quarter in the face of a challenging and dynamic environment,” and updated its 2020 guidance.
Wabtec Corp. launched air-filtration innovation BlueFilter® in an effort to provide a clean, healthy environment for passengers on metro and trains. The filter continuously provides fresh and clean air onboard metro and railcars by removing more than 90% of contaminants per air cycle.
Wabtec Corp. has struck gold in Germany—DGNB (Deutsche Gesellschaft für Nachhaltiges Bauen, or “German Sustainable Building Council”) Gold, that is. The U.S.-based global railway supplier has broken ground in Bochum on a 20,000-square-meter facility for developing, manufacturing and/or maintaining transit vehicle brakes and couplers. Described as “green and state-of-the-art,” the plant will be DGNB Gold-certified “in recognition of its sustainable and innovative design” when completed in third-quarter 2020.
Wabtec Corp. has acquired RELCO Locomotives for $29 million, on a cash- and debt-free basis. All conditions for the acquisition are complete and the transaction will be accretive in year one. RELCO’s projected sales for 2019 are roughly $50 million.
Wabtec Corp. recently reported its 3Q19 results, which include earnings per diluted share of $0.48 and adjusted earnings per diluted share of $1.03. In addition, Wabtec noted that it generated GAAP cash from operations of $124 million for the quarter and affirmed its 2019 GAAP cash from operations guidance of about $900 million.