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Jun 30, 2021
Wabtec Q2 2021 Earnings Report
Wabtec reported strong Q2 results and updated 2021 guidance.
Key Takeaways
Wabtec Corporation reported a strong second quarter in 2021, with earnings per diluted share of $0.66 and adjusted earnings per diluted share of $1.06. Total sales reached $2.0 billion, and cash from operations was robust at $223 million. The company raised its full-year revenue and earnings per share guidance.
GAAP earnings per share was $0.66, while adjusted EPS was $1.06.
Total sales amounted to $2.0 billion.
Cash flow from operations stood strong at $223 million.
The company's 12-month backlog reached its highest level since the second quarter of 2019.
Wabtec
Wabtec
Wabtec Revenue by Segment
Revenue by Segment
Freight Revenue
CapyFin.comTransit Revenue
CapyFin.com Forward Guidance
Wabtec updated its 2021 sales guidance to a range of $7.9 billion to $8.2 billion, GAAP earnings per diluted share guidance to between $2.87 to $3.07 and adjusted earnings per diluted share to between $4.15 to $4.35. The adjusted guidance excludes estimated expenses for restructuring, transaction and amortization expenses.
Positive Outlook
- Sales guidance updated to $7.9B - $8.2B.
- GAAP EPS guidance updated to $2.87 - $3.07.
- Adjusted EPS guidance updated to $4.15 - $4.35.
- Expected run rate savings of $250 million in 2021 from synergies.
- Expected margin expansion through continued cost actions.
Challenges Ahead
- Adjusted guidance excludes restructuring expenses.
- Adjusted guidance excludes transaction expenses.
- Adjusted guidance excludes amortization expenses.
- Severe disruption in India stemming from the pandemic.
- Continued challenges in OE end-markets and inflationary pressures globally
Revenue & Expenses
Visualization of income flow from segment revenue to net income