EarningsQ2 2026 Earnings Report
MX:WAB Q2 2026 EPS Results
Actual EPS$49.94
Consensus EPS$47.14
Beat/MissBeat by +$2.80
One Year Ago EPS$41.08
MX:WAB Q2 2026 Revenue Results
Actual Revenue$57.52B
Expected Revenue$55.62B
Beat/MissBeat by +$1.90B
YoY Revenue Growth+17.48%
Earnings Announcement Details
QuarterQ2 2026
Date07/22/2026
TimeBefore Open
Conference CallWednesday, July 22, 2026
MX:WAB Upcoming Earnings
Westinghouse Air Brake Technologies's next earnings date is estimated for October 21, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:WAB Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operational and financial takeaways — robust top‑line growth (Q2 sales +17.5%), margin expansion, substantial backlog growth, strong cash generation, notable commercial wins and an upward revision to full‑year revenue and EPS guidance. These positives were tempered by persistent external headwinds (tariffs, inflation, chip shortages), softer services/modernization in H1, a small decline in components related to a weaker North American railcar build, and some acquisition‑related charges and higher SG&A/engineering spend. On balance, the momentum in revenue, margins, backlog and guidance outweigh the identified challenges.Company Guidance
Strong Revenue and Organic Growth
Q2 sales of $3.18 billion, up 17.5% year-over-year (16.6% ex-currency). Organic growth contributed ~8.5% of Q2 growth and H1 organic growth was 5.5%.
Margin Expansion and Profitability
GAAP operating income of $600 million, up 27.1% YoY. GAAP operating margin expanded to 18.9% (+1.5 percentage points) and adjusted operating margin was 21.9% (+0.8 percentage points). Adjusted EPS of $2.76 was up 21.6% YoY (GAAP EPS $2.33, +18.9%).
Backlog Strength and Visibility
12‑month backlog increased ~11% YoY and multi‑year backlog exceeded $30 billion (up ~42% YoY), providing strong revenue visibility and coverage across equipment and long‑lead projects.
Cash Generation and Financial Position
Operating cash flow of $441 million in Q2 with cash conversion of 82%. Liquidity ended the quarter above $2.0 billion and net debt leverage was 2.2x, inside the targeted 2.0–2.5x range.
Raised 2026 Guidance
Full‑year 2026 revenue guidance midpoint raised to approximately $12.5 billion (+11.5% YoY at midpoint, +1 percentage point vs prior guidance). Adjusted EPS guidance raised to $10.60–$10.90 (midpoint up ~20% YoY).
Notable Orders and Commercial Wins
Secured a ~$1 billion multi‑product order in Australia; $184 million Positive Train Control order with Vale in Brazil; $55 million Grand Paris Express platform door order; $52 million APAC mining drive systems order — demonstrating breadth across equipment, services and digital.
Segment & Product Strength
Equipment sales up 35% YoY (higher locomotive deliveries and mining). Transit sales up 18.9% to $936 million (17.7% ex‑FX). Freight sales up 16.9% with Freight adjusted operating income up 20.6%.
Digital & Acquisition Momentum
Digital intelligence sales up 88.5% YoY driven by Inspection Technologies and Frauscher acquisitions. Acquisitions (including Dellner) are reported as integrating well and contributing to growth and margin expansion.
Capital Return and Discipline
Repurchased $215 million of shares in Q2 (repurchases of $457 million in H1) and paid $53 million in dividends while funding the Dellner acquisition (~$1 billion) — maintaining capital allocation discipline.
MX:WAB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed