Wabtec (WAB) Q1 2026 Earnings Transcript

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Wed, April 22, 2026 astatine 10:31 AM CDT 46 min read

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Wednesday, April 22, 2026 astatine 8:30 a.m. ET

• President & Chief Executive Officer — Rafael Santana

• Executive Vice President & Chief Financial Officer — John Olin

• Vice President, Investor Relations — Kyra Yates

Rafael Santana: Thanks, Kyra, and bully morning, everyone. At Wabtec, we are focused connected advancing mission-critical proscription and concern technologies. We are committed to gathering a much efficient, high-performing planetary level that drives and compounds semipermanent worth for our customers, shareholders and for our employees. We are inspired by the advancement we are making, and we stay dedicated to executing this strategy arsenic we study retired our archetypal 4th results. With that, let's determination to Slide 4. I'll commencement with an update connected our business, my perspectives connected the 4th and advancement against our semipermanent worth instauration framework, and past John volition screen the financials. The squad delivered a beardown archetypal 4th with operational results up of our expectations.

EPS besides benefited from nonoperational benefits driven by currency fluctuations and taxes. The momentum that we had arsenic we exited 2025 was intelligibly advent successful our archetypal 4th operational execution, pipeline conversion and our wide fiscal results. Sales were $3 billion, which was up 13%, and adjusted EPS was up 19% from the twelvemonth agone quarter. Total currency travel from operations for the 4th was $199 million. Backlog remains a cardinal strength. 12-month backlog was up 13% from the anterior year, portion the multiyear backlog exceeded $30 billion, up 38%. This backlog results provides beardown visibility and reflects continued momentum crossed our businesses positioning america good arsenic we execute against our strategy. Our fiscal presumption remains strong.

We proceed to execute against our superior allocation model and expect to proceed to compound semipermanent worth for our shareholders. Shifting our absorption to Slide 5. Let's speech astir our 2026 extremity marketplace expectations successful much detail. While cardinal metrics crossed our Freight markets stay mixed, we proceed to beryllium encouraged by the wide spot and resilience of our business. We are seeing coagulated momentum successful our planetary markets and the pipeline of opportunities crossed geographies stay strong. In North America, carload postulation was up 2% successful the quarter. Despite the [ static ] growth, the industry's progressive locomotive fleet was down slightly, portion Wabtec's progressive fleet trended up erstwhile compared to past year's archetypal quarter.