Wabtec Corporation (NYSE: WAB) reported third-quarter adjusted earnings that exceeded expectations, supported by strong performance in both its freight and transit businesses.
Adjusted earnings per share rose to $2.32, topping analyst estimates of $2.28. Revenue increased 8.4% to $2.89 billion, slightly ahead of expectations of $2.88 billion.
The company’s growth was driven by higher locomotive deliveries and strong aftermarket demand in the transit segment. Adjusted operating margin expanded by 130 basis points to 21.0%, aided by higher volumes and improved cost efficiency.
Wabtec’s total backlog reached $25.6 billion, with its 12-month backlog up 8.4% year-over-year. Freight sales increased 8.4% to $2.09 billion, with equipment sales surging 32% on stronger locomotive deliveries. Transit segment revenue grew 8.2% to $793 million.
Following the results, Wabtec raised its 2025 adjusted earnings guidance to a range of $8.85–$9.05 per share, up $0.10 at the midpoint. The company maintained its revenue outlook of $10.925–$11.225 billion, implying roughly 6.6% growth at the midpoint.
