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Mar 31, 2020
Wabtec Q1 2020 Earnings Report
Wabtec's first quarter performance was solid despite COVID-19 headwinds, with increased sales and adjusted EPS, driven by acquisitions and cost management.
Key Takeaways
Wabtec reported a solid first quarter with increased sales of $1.9 billion and adjusted EPS of $0.97, despite headwinds from the COVID-19 pandemic. The company's performance was driven by sales from acquisitions and cost management initiatives.
Reported GAAP earnings per share of $0.58; adjusted EPS of $0.97.
Reported GAAP income from operations of $217 million (11.3% margin); adjusted income from operations of $303 million (15.7% margin).
Available liquidity of about $1.2 billion at quarter close; additional actions post quarter further enhanced liquidity by $600 million.
Multi-year backlog of $21.5 billion provides forward visibility.
Revenue by Segment
Forward Guidance
Wabtec is withdrawing its 2020 financial guidance due to the uncertainty created by the COVID-19 pandemic but remains confident in the long-term fundamentals of the company.
Positive Outlook
- Strong backlog
- Recurring service revenues
- Aftermarket reach
- Significant installed base
- Technology differentiation
Challenges Ahead
- Impacts of the coronavirus
- High degree of uncertainty regarding the duration and severity of the pandemic
- Government actions to contain it
- Potential impact on global economic activity
- Global supply chain operations, and our customers
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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