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.
Wabtec Corp. recently celebrated its 150th anniversary, as well as the grand opening of its new headquarters in Pittsburgh.
RAILWAY AGE at RAILWAY INTERCHANGE 2019: Wabtec Corp. announced two new offerings aimed at modernizing locomotive fleets at Railway Interchange 2019: An engine upgrade package, FDL Advantage, for its FDL locomotive platform as well as a complete control system replacement, The Modular Control Architecture – Fleet Migration (MCA FM).
Wabtec has partnered with Septentrio, a Belgian manufacturer of GNSS (Global Navigation Satellite System) equipment, to supply GPS receivers for its GoLINC™ Edge locomotive onboard mobile data center platform, “providing positioning, connectivity and data storage, and enhancing Positive Train Control (PTC) with the adoption of even higher-precision positioning technology.”
Reporting on the Cowen and Company Global Transport Conference in Bosto, Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl and analysts Matt Elkott and Adam Kramer offer these observations taken from the conference’s railcar/locomotive builder and Class I railroad panels, with a large trucker and a logistics/LTL company added for deeper perspective:
In a wide-ranging interview with Railway Age in December 2018, BNSF’s then-Executive Chairman Matt Rose had this to say about the future of locomotive propulsion technology:
A looming U.S. economic recession—just look at freight rail traffic figures from the past six months—and “cyclical industrial fears” have significantly impacted rail equipment equities, creating opportunities for long-term investors with what Cowen and Company analysts Matt Elkott, Jason Seidl (Railway Age Wall Street Contributing Editor) and Adam Kramer describe as “quality companies with self-forged narratives” like Wabtec, Trinity and Greenbrier.
Wabtec Corp. recently filed a 20,485,156 share offering of GE, and expects to grant the underwriters a 30-day option to purchase up to an additional 2,048,515 shares. Wabtec said it will not receive any proceeds from the sale of the shares in the offering.
In reporting its 2Q19 financials, Wabtec Corp. lowered its sales guidance but raised its 2019 GAAP cash from operations guidance to about $900 million.
Wabtec Corporation recently announced that it completed delivery of five diesel-electric PowerHaul® series locomotives to Körfez Ulaştırma A.Ş., the subsidiary of Turkey’s largest refinery Tüpraş operating in railway transportation.