Wabtec Q4 2020 Earnings Report
Key Takeaways
Wabtec reported Q4 sales of $2.0 billion and GAAP earnings per diluted share of $0.46. Adjusted earnings per diluted share were $0.98. The company's total backlog was $21.6 billion, with a 12-month backlog of $5.5 billion.
Delivered strong cash flow from operations of $784 million for 2020, including ~$220 million of one-time cash impacts and returned ~$300 million to shareholders.
Fourth Quarter Reported GAAP Earnings Per Share of $0.46; Adjusted EPS of $0.98; Full Year GAAP Earnings Per Share of $2.17; Adjusted EPS of $3.79
Transit Adjusted Margin Ahead of Plan in 2020; Delivered 200 bps of Improvement
Book-to-Bill Strengthening with Key Orders for International Locomotives, Modernizations and Service Agreements
Wabtec
Wabtec
Wabtec Revenue by Segment
Forward Guidance
Wabtec issued its 2021 sales guidance to a range of $7.6 billion to $7.9 billion, GAAP earnings per diluted share guidance to between $2.65 to $3.05 and adjusted earnings per diluted share to between $3.90 to $4.30. For full year 2021, Wabtec expects strong cash flow generation with operating cash flow conversion of greater than 90%.
Positive Outlook
- Sales guidance to a range of $7.6 billion to $7.9 billion
- GAAP earnings per diluted share guidance to between $2.65 to $3.05
- Adjusted earnings per diluted share to between $3.90 to $4.30.
- Expect to achieve a run rate savings of $250 million in 2021, driving improved margins.
- Expects strong cash flow generation with operating cash flow conversion of greater than 90%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income