NYSE$WAB
Wabtec Corp · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Wabtec reported a strong start to the year with double-digit percentage increase in earnings per share.
Wabtec reported strong first quarter 2023 results, with sales growth of 13.9% to $2.19 billion and adjusted earnings per share up 13.3% to $1.28. The company returned $209 million to shareholders via dividends and share repurchases and has strong visibility from a $22.3 billion multi-year backlog.
- Sales increased 13.9% compared to the year-ago quarter driven by significantly higher Freight segment sales and increased Transit segment sales. On a constant currency basis, consolidated sales were up 16.8%.
- GAAP operating margin was slightly higher than prior year at 12.6% and adjusted operating margin was slightly lower at 16.4%.
- GAAP EPS and adjusted EPS increased from the year-ago quarter primarily due to higher sales, partially offset by higher interest expense.
- Cash used for operations was $25 million versus cash provided from operations of $161 million in the year ago period due primarily to higher working capital.
Headline financials
Revenue & EPS history
Wabtec · Revenue · Quarterly
$2.19B
Revenue by segment
Wabtec · $2.19B total across 2 segments · Q1 2023
- Freight$1.57B+18.5%71.4%
- Transit$628M+3.8%28.6%
Forward guidance
Wabtec’s 2023 financial guidance continues with sales expected to be in a range of $8.7 billion to $9.0 billion and adjusted earnings per diluted share to be in a range of $5.15 to $5.55. For full year 2023, Wabtec expects strong cash flow generation with operating cash flow conversion of greater than 90 percent.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.5%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+1.0%
Avg return
30 days after
58%
40 / 69 earnings
Positive
+9.9%
Q1 2024
Best reaction
-14.9%
Q2 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.2% | +3.7% | -0.3% | |
| Q4 2025 | +3.2% | +3.9% | -3.9% | |
| Q3 2025 | -2.3% | +1.2% | +1.1% | |
| Q2 2025 | -1.8% | -0.9% | -2.9% | |
| Q1 2025 | +5.9% | +6.7% | +16.0% | |
| Q4 2024 | -9.1% | -9.6% | -14.1% | |
| Q3 2024 | -0.3% | +0.6% | +5.0% | |
| Q2 2024 | -5.3% | -4.8% | -1.1% | |
| Q1 2024 | +9.9% | +9.9% | +14.3% | |
| Q4 2023 | -1.8% | -1.6% | +2.5% | |
| Q3 2023 | +4.6% | +5.6% | +17.1% | |
| Q2 2023 | +4.9% | +5.4% | -1.2% | |
| Q1 2023 | -3.0% | -2.6% | -6.0% | |
| Q4 2022 | +0.9% | +2.0% | -9.9% | |
| Q3 2022 | -3.0% | +2.3% | +10.5% | |
| Q2 2022 | +0.7% | +2.3% | -6.3% | |
| Q1 2022 | +8.2% | +6.3% | +9.7% | |
| Q4 2021 | +7.0% | +7.9% | +7.2% | |
| Q3 2021 | -0.9% | -1.3% | +1.5% | |
| Q2 2021 | +1.9% | +2.8% | +8.2% | |
| Q1 2021 | -4.1% | -5.0% | -3.3% | |
| Q4 2020 | -6.8% | -6.1% | -4.7% | |
| Q3 2020 | +5.6% | +16.8% | +31.4% | |
| Q2 2020 | +5.3% | +0.3% | +6.8% | |
| Q1 2020 | +1.3% | +5.3% | +20.5% | |
| Q4 2019 | +2.1% | +1.9% | -44.7% | |
| Q3 2019 | +9.4% | +13.7% | +15.0% | |
| Q2 2019 | +9.3% | +6.0% | -5.0% | |
| Q1 2019 | -4.4% | -3.3% | -14.5% | |
| Q4 2018 | +0.8% | -1.3% | -1.9% | |
| Q3 2018 | -8.9% | -5.5% | +2.9% | |
| Q2 2018 | +4.2% | +2.9% | +3.4% | |
| Q1 2018 | +1.5% | +1.5% | +10.2% | |
| Q4 2017 | +5.8% | +7.9% | +1.4% | |
| Q3 2017 | +1.6% | -0.2% | -4.3% | |
| Q2 2017 | -14.9% | -13.7% | -19.3% | |
| Q1 2017 | +4.6% | +2.1% | +0.4% | |
| Q4 2016 | -8.7% | -9.5% | -13.4% | |
| Q3 2016 | -5.8% | -6.2% | +6.2% | |
| Q2 2016 | -3.5% | -3.7% | +6.7% | |
| Q1 2016 | +8.4% | — | — | |
| Q4 2015 | -3.2% | — | — | |
| Q3 2015 | -6.0% | — | — | |
| Q2 2015 | -2.0% | — | — | |
| Q1 2015 | +2.6% | — | — | |
| Q4 2014 | +4.8% | — | — | |
| Q3 2014 | +5.7% | — | — | |
| Q2 2014 | +4.8% | — | — | |
| Q1 2014 | +1.0% | — | — | |
| Q4 2013 | +2.8% | — | — | |
| Q3 2013 | +0.4% | — | — | |
| Q2 2013 | +0.7% | — | — | |
| Q1 2013 | +2.1% | — | — | |
| Q4 2012 | +2.1% | — | — | |
| Q3 2012 | -2.4% | — | — | |
| Q2 2012 | +3.6% | — | — | |
| Q1 2012 | -1.1% | — | — | |
| Q4 2011 | +0.8% | — | — | |
| Q3 2011 | -3.2% | — | — | |
| Q2 2011 | -8.5% | — | — | |
| Q1 2010 | +1.6% | — | — | |
| Q1 2011 | +1.7% | — | — | |
| Q4 2008 | +3.8% | — | — | |
| Q4 2010 | +3.8% | — | — | |
| Q3 2009 | -0.4% | — | — | |
| Q3 2010 | -0.4% | — | — | |
| Q4 2009 | -1.8% | — | — | |
| Q2 2009 | -1.8% | — | — | |
| Q2 2010 | -1.8% | — | — |
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