Company Overview of Wabtec Corporation
Wabtec Corporation manufactures and supplies technology-based products and components for freight and passenger rail, transit, power generation, off-highway equipment, and industrial markets globally. It offers brake subsystems and related products for locomotives, freight cars, and passenger transit vehicles; electronic train-control equipment; switcher, low-horsepower, commuter, and other locomotives; coupling, door control, and air conditioning systems for transit vehicles; heat-exchange equipment for rail, marine, power generation, off-highway, and industrial applications; and pneumatic, hydraulic, and electro-pneumatic brake equipment, car couplers, and current collectors. The company a...
1001 Air Brake Avenue
Wilmerding, PA 15148
Founded in 1999
Key Executives for Wabtec Corporation
Chief Executive Officer, President and Director
Chief Financial Officer and Senior Vice President
Senior Vice President and Group Executive
Managing Director of CoFren SRL
Compensation as of Fiscal Year 2016.
Wabtec Corporation Key Developments
Wabtec Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016
Oct 25 16
Wabtec Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported net sales of $675,574,000 against $809,527,000 a year ago. Income from operations was $120,096,000 against $152,078,000 a year ago. Income from operations before income taxes was $115,227,000 against $144,790,000 a year ago. Net income attributable to the company shareholders was $82,428,000 or $0.91 per diluted share against $99,181,000 or $1.02 per diluted share a year ago.
For the nine months, the company reported net sales of $2,171,206,000 against $2,475,149,000 a year ago. Income from operations was $395,561,000 against $456,358,000 a year ago. Income from operations before income taxes was $379,777,000 against $435,970,000 a year ago. Net income attributable to the company shareholders was $267,076,000 or $2.92 per diluted share against $296,849,000 or $3.05 per diluted share a year ago.
Wabtec Seek Acquisitions
Oct 25 16
Ray Betler, President of Wabtec Corporation:Wabtec Corporation said, "In the area of acquisitions our pipeline continues to be active and we are pleased with the opportunities we are reviewing. During the third quarter we announced the acquisition of the Gerken Group, the leading manufacturer of specialty carbon and graphite products for rail and other industrial applications. The company has annual sales of about $40 million US and is part of our transit group. Gerken was founded 80 years ago and manufactures a variety of carbon brushes and strips, graphite and related products used in the railway traction area in prior generation and other industrial markets."
Wabtec Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2016
Aug 18 16
Wabtec Corporation reported earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported net income attributable to shareholders of $90.48 million, or $1 per diluted share, compared to $101.5 million, or $1.04 per diluted share, for the same quarter ended June 30, 2015. Net sales were $723.6 million, compared to $847.03 million a year ago.
For the six months, the company reported net income attributable to shareholders for the first six months ended June 30, 2016 was $184.65 million, or $2.02 per diluted share, compared to $197.67 million, or $2.03 per diluted share, for the same period ended June 30, 2015. Net sales for the first six months ended June 30, 2016 were $1.49 billion, compared to $1.66 billion for the same period ended June 30, 2015.
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