Company Overview of Wabtec Corporation
Wabtec Corporation, through its subsidiaries, manufactures and supplies a range of products for freight and passenger rail, transit, power generation, off-highway equipment, and industrial markets worldwide. It offers brake subsystems and related products for locomotives, freight cars, and passenger transit vehicles; electronic train-control equipment; new switcher and commuter locomotives; coupling, door control, and air conditioning systems for transit vehicles; and heat-exchange equipment for rail, marine, power generation, off-highway, and industrial applications. The company also offers electrical, mechanical, and pneumatic components; routine maintenance and repair services; locomotive...
1001 Air Brake Avenue
Wilmerding, PA 15148
Founded in 1999
Key Executives for Wabtec Corporation
Chairman and Chief Executive Officer
President and Chief Operating Officer
Chief Financial Officer and Senior Vice President
Senior Vice President and Group Executive
Compensation as of Fiscal Year 2013.
Wabtec Corporation Key Developments
Wabtec Corporation Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Fiscal 2013
Nov 4 13
Wabtec Corporation announced earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported net income attributable to shareholders was $73.94 million, or $0.76 per diluted share, compared to $62.99 million, or $0.65 per diluted share, for the same quarter ended September 30, 2012. Net sales for the third quarter ended September 30, 2013 were $631.4 million, compared to $587.59 million for the same quarter ended September 30, 2012.
For the nine months, the company reported net income attributable to shareholders was $218.19 million, or $2.25 per diluted share, compared to $186.97 million, or $1.93 per diluted share, for the same period ended September 30, 2012. Net sales for the were $1.88 billion, compared to $1.78 billion for the same period ended September 30, 2012.
The company has increased its 2013 guidance for earnings per diluted share to $3.00 to $3.04, with revenues expected to be up about 8%.
Wabtec Corporation Announces Management Changes, Effective January 1, 2014
Oct 28 13
Wabtec Corporation said Alvaro Garcia-Tunon has decided to retire as Executive Vice President and Chief Financial Officer, effective January 1, 2014. He will be succeeded by Patrick D. Dugan, who joined Wabtec in 2003 and has served as Senior Vice President, Finance and Corporate Controller, and as a member of the company's Executive Office, since January 2012. Garcia-Tunon, 61, will remain with the company as a strategic adviser. He joined Wabtec in 1995 and served in a variety of roles of increasing responsibility prior to his appointment as CFO in March 2003. He has played an integral role in the company's success and will continue to be involved in its strategic growth initiatives.
Wabtec Corporation Signs $21 Million Contract with SNIM to Provide Bogies for Freight Cars
Jul 19 13
Wabtec Corporation has signed a $21 million contract with SNIM, the national industrial and mining company of Mauritania, to provide bogies for new iron ore freight cars. Under the contract, Wabtec's Standard Car Truck subsidiary will provide bogies and related spare parts for the cars, which will help SNIM increase its iron ore shipments significantly over the next three years.
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