Wabtec reports Q4 adjusted EPS $1.54, consensus $1.58

Reports Q4 revenue $2.53B, consensus $2.48B. “The Wabtec team delivered a strong finish to 2023 as evidenced by higher sales, margin expansion, increased earnings and improved cash flow,” said Rafael Santana, Wabtec’s President and CEO. “Strong demand for our products in North America and international markets, combined with our team’s relentless focus on execution and delivering for our customers resulted in a year that exceeded our expectations. We remain committed to our capital deployment strategy to maximize shareholder returns. We invested for future growth, executed on two strategic acquisitions and returned over $530 million to shareholders through share repurchases and dividends. And based on our strong performance in 2023 and confidence in the future, our Board of Directors recently reauthorized our stock buyback program to refresh the amount available to $1.0 billion and approved a 17.6% increase in our quarterly dividend. Looking ahead, with robust international activity and a strong order pipeline, Wabtec is well-positioned to drive profitable growth in 2024 and beyond. Our differentiated portfolio is aligned to solving our customers’ most pressing needs and making rail the safest and most efficient way to move people and goods across land. Wabtec’s products and technologies will enable us to capitalize on these trends and drive profitable growth and increase long-term shareholder value.”