Wabtec Q4 2019 Earnings Report
Key Takeaways
Wabtec reported strong Q4 2019 results with GAAP earnings per share of $0.71 and adjusted EPS of $1.04. Sales for the quarter were $2.4 billion. The company's multi-year backlog remains strong at $22.4 billion.
GAAP earnings per share was $0.71; adjusted EPS was $1.04.
GAAP and adjusted sales were $2.4 Billion.
Operating cash flow was over $1.0 Billion for the full year.
Multi-year backlog was $22.4 billion.
Wabtec
Wabtec
Wabtec Revenue by Segment
Forward Guidance
Wabtec issued 2020 GAAP sales guidance of about $8.7 billion, GAAP income from operations guidance of about $1.1 billion and GAAP earnings per diluted share guidance to between $3.20 to $3.50. Wabtec issued guidance for adjusted income from operations of about $1.4 billion and adjusted EBITDA of about $1.6 billion. Wabtec also issued 2020 guidance for adjusted earnings per diluted share to between $4.50 to $4.80.
Positive Outlook
- GAAP sales guidance of about $8.7 billion
- GAAP income from operations guidance of about $1.1 billion
- GAAP earnings per diluted share guidance to between $3.20 to $3.50
- Adjusted income from operations of about $1.4 billion
- Adjusted earnings per diluted share guidance to between $4.50 to $4.80
Challenges Ahead
- Wabtec expects GAAP cash flow from operations to be about $900 million and to include approximately $100 million of cash outflows related to prior year restructuring and litigation costs.
- Wabtec anticipates 2020 first quarter sales, adjusted net income, adjusted EBITDA and adjusted earnings per diluted share to be lower when compared to the remainder of 2020
- Expected first quarter seasonality
- Project scheduling will cause a lower Q1
- Improvement expected through the rest of the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income