Wabtec 3Q20: ‘All-Around Beat, Backlog Intact’
Wabtec Corp. reported a “strong operational third quarter in the face of a challenging and dynamic environment,” and updated its 2020 guidance.
Wabtec Corp
Breath of Fresh Air: Wabtec Launches BlueFilter
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 Strikes DGNB Gold in Germany
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 Acquires RELCO Locomotives
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 Generates $124MM in 3Q19
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.