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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.
Wabtec
Wabtec
Wabtec Revenue by Segment
Revenue by Segment
Freight Revenue
CapyFin.comTransit Revenue
CapyFin.com 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