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Sep 30, 2025
Wabtec Q3 2025 Earnings Report
Wabtec reported higher revenue and earnings in Q3 2025 and raised its adjusted EPS guidance for the full year.
Key Takeaways
Wabtec delivered a strong Q3 2025 performance with growth in revenue, operating income, and net income. The company raised its full-year adjusted EPS guidance, supported by a robust backlog and margin expansion.
Revenue increased to $2.89B, driven by growth in both Freight and Transit segments.
Adjusted EPS rose to $2.32 from $2.00 in Q3 2024.
Backlog grew to $25.6B, with a 12-month backlog of $8.27B.
Adjusted operating margin expanded to 21.0%.
Revenue by Segment
Forward Guidance
Wabtec raised its 2025 adjusted EPS guidance range to $8.85–$9.05, with improved confidence in backlog execution and profitability.
Positive Outlook
- Raised adjusted EPS guidance midpoint by $0.10.
- Backlog visibility increased with $3.3B YoY growth.
- Strong margin improvement expected to continue.
- Full-year revenue guidance of $10.925B–$11.225B maintained.
- Cash flow conversion expected to exceed 90%.
Challenges Ahead
- Cash from operations declined YoY in Q3.
- Services sales declined due to modernization delivery timing.
- Higher operating expenses impacted GAAP margins.
- Freight operating margin slightly declined YoY on a GAAP basis.
- Exposure to tariffs and working capital weighed on cash generation.
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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