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Wabtec Reports Strong Third Quarter 2026 Results, Raised and Tightened Adjusted EPS Guidance

Wabtec

  • Sales Growth of 8.1% to $3.12 Billion Driven by Both the Freight and Transit Segments

  • GAAP Operating Margin at 20.0%; Adjusted Operating Margin Up 1.9 pts to 22.9%

  • GAAP Earnings Per Share of $2.42, Up 33.7%; Adjusted Earnings Per Share of $2.83, Up 22.0%

  • Raised and Tightened 2026 Adjusted Earnings Per Share Guidance; up 22% at the midpoint

PITTSBURGH, October 21, 2026--Wabtec Corporation (NYSE: WAB) today reported third quarter 2026 GAAP earnings per diluted share of $2.42, up 33.7% versus the third quarter of 2025. Adjusted earnings per diluted share were $2.83, up 22.0% versus the same quarter a year ago. Third quarter sales were $3.12 billion and cash from operations was $455 million.

"Wabtec delivered another strong quarter, evidenced by sales growth, margin expansion and a 22% increase in adjusted EPS," said Rafael Santana, Wabtec's Chairman and CEO.

"The strength of our performance reflects our momentum across the portfolio, disciplined execution by our teams, and the continued success of our strategic actions. These actions enhance our growth profile, expand margins, and increase the earnings power of the company.

"Our teams continue to translate healthy customer demand into profitable growth while investing in technologies that will advance the future of transportation. These investments are strengthening our competitive position and reinforcing Wabtec as a leading Industrial Technology Company."

2026 Third Quarter Consolidated Results

Wabtec Corporation Consolidated Financial Results

$ in millions except earnings per share and percentages; margin change in percentage points (pts)

Third Quarter

2026

2025

Change

Net Sales

$3,120

$2,886

8.1 %

GAAP Gross Margin

37.3 %

34.7 %

2.6 pts

Adjusted Gross Margin

37.4 %

35.6 %

1.8 pts

GAAP Operating Margin

20.0 %

17.0 %

3.0 pts

Adjusted Operating Margin

22.9 %

21.0 %

1.9 pts

GAAP Diluted EPS

$2.42

$1.81

33.7 %

Adjusted Diluted EPS

$2.83

$2.32

22.0 %

Cash Flow from Operations

$455

$367

$88

Operating Cash Flow Conversion

82 %

83 %

  • Sales increased 8.1% compared to the year-ago quarter driven by higher sales in the Freight and Transit segments, which includes the acquisitions of Frauscher Sensor Technologies and Dellner Couplers.

  • GAAP operating margin was higher than the prior year at 20.0%, and adjusted operating margin was higher than the prior year at 22.9%. Both GAAP and adjusted operating margins benefited from sales growth and improved gross margins in the quarter.

  • GAAP EPS and adjusted EPS increased from the year-ago quarter primarily due to higher sales, operating margin expansion, and non-operational benefits primarily related to currency fluctuations.

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