Los ingresos y las ganancias del constructor de locomotoras Wabtec aumentaron en el cuarto trimestre, pero las acciones de la compañía cayeron un 11% el miércoles después de los resultados trimestrales y una nueva perspectiva de cinco años llegó por debajo de las expectativas de Wall Street. La...
Wabtec
Wabtec’s earnings and outlook disappoint Wall Street
Locomotive builder Wabtec’s revenue and profits increased in the fourth quarter, but the company’s stock tumbled 11% Wednesday after quarterly results and a new five-year outlook both came in below Wall Street expectations.
The drop in Wabtec’s stock price (NYSE: WAB) was the largest in the S&P 500.
Quarterly operating income increased 8.4%, to $334 million, as revenue grew 2.3%, to $2.58 billion. Earnings per share increased 2.5%, to $1.23.
The Pittsburgh-based company’s order backlog was $7.68...
https://www.freightwaves.com/news/wabtecs-earnings-and-outlook-disappoint-wall-street
Wabtec joins rail telematics market
Pittsburgh-headquartered Wabtec has signed an agreement with Dutch company Intermodal Telematics to produce telematics technology for rail cars.
Wabtec, a rail technology provider, says the product could be ready in the first quarter of 2024. Wabtec (NYSE: WAB) will use Intermodal Telematics’ technology to create the rail car telematics offering.
The telematics technology enables rail car owners and operators to access real-time data to see the location and status of individual rail cars and...
https://www.freightwaves.com/news/wabtec-joins-rail-telematics-market
New Panama Canal hybrid tractor tugs will have Wabtec engines
Pittsburgh-headquartered Wabtec Corporation (NYSE: WAB) and its Latin American channel partner, Marinsa International, have recently signed a contract to supply the primary power for 10 new hybrid tractor tugboats being built for the Panama Canal Authority (ACP) by Spanish shipbuilder Astilleros Armón.
Under the contract, Wabtec will deliver two 8L250MDA marine engines for each tugboat. The order is Wabtec’s fourth for marine diesel engines to power the ACP fleet.
“Wabtec is delighted to power...
https://www.marinelog.com/technology/new-panama-canal-hybrid-tractor-tugs-will-have-wabtec-engines/
Macro uncertainties loom for rail equipment manufacturers
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How to maintain business amid uncertain macroeconomic conditions was one of the prevalent themes...
https://www.freightwaves.com/news/macro-uncertainties-loom-for-rail-equipment-manufacturers
Progress Rail wants court to order Wabtec to sell GE Transportation
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Progress Rail wants a federal court to order rail equipment provider Wabtec to divest of General...
Pending rail car retirements, high scrap rates tighten equipment market
Despite lingering macroeconomic uncertainties, rail equipment manufacturers are upbeat about the rest of 2023 and early 2024 based on factors that appear to be supporting the market for rail car leasing and the production of rail cars or rail equipment, according to comments from various company executives during the recent second-quarter earnings season.
Those factors include the anticipated retirement of different types of rail cars and high scrapping rates for rail cars. Inquiries to lease...
Trinity Industries, GATX and Wabtec see opportunities amid headwinds
Rail equipment manufacturers and rail car lessors see 2023 as a year of opportunities despite lower North American rail volumes in the first quarter. Here’s what officials said about the rail car market during recent earnings calls.
Trinity Industries upbeat on rail car leasing marketTrinity Industries is optimistic that pent-up demand to move volumes will help support rail car leasing in 2023, even though U.S. rail volumes are down year over year. That decline, though, is partly due to...
Wabtec VP: US needs to invest in hydrogen rail technologies
Freight railroads have a reputation for being a good choice for shippers seeking to reduce greenhouse gas emissions, with railroads representing only 1.9% of transportation-related GHG emissions, according to the Association of American Railroads, quoting data from the U.S. Environmental Protection Agency.
But are there ways to make freight railroads even more environmentally friendly? One avenue some are exploring is through locomotive technology and seeing what technologies can decrease...
https://www.freightwaves.com/news/wabtec-vp-us-needs-to-invest-in-hydrogen-rail-technologies
National labs, Wabtec partner to develop next-gen locomotive engine
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Rail technology provider Wabtec (NYSE: WAB) and scientists with the U.S. Department of Energy’s Oak...
https://www.freightwaves.com/news/national-labs-wabtec-partner-to-develop-next-gen-locomotive-engine