Wabtec 10-Q Backs Up Q3 Beat: $3.12B Sales, $409M Net Income, Record $31.4B Backlog
WAB sits 53% above its 52-week low of $186.06.
Summary
Wabtec's Q3 10-Q confirms the morning's results — $3.12B sales, $409M net income, $2.42 diluted EPS — with gross margin up 2.6 points and record $31.4B backlog, funded partly by higher debt and lower cash after the Dellner acquisition and buybacks.
Key Events · Earnings and Guidance · WAB
-
Q3 Results Confirmed in Full
Sales $3.12B (+8.1%), operating income $625M, net income attributable to Wabtec $409M, diluted EPS $2.42 versus $1.81 a year ago.
-
Gross Margin Expands 2.6 Points
Gross profit rose to $1,164M (37.3% of sales) from $1,002M (34.7%), driven by productivity, favorable mix and acquisition accretion, partly offset by tariffs and commodity costs.
-
Record $31.4B Backlog
Total multi-year backlog increased $4.0B during the first nine months of 2026; about 30% is expected to convert to revenue over the next 12 months.
-
Cash Flow and Liquidity Tighten
Nine-month operating cash flow was $1,095M versus $767M; cash fell to $489M and total available liquidity to $2,091M from $3,207M after $1,062M of acquisitions and $762M of buybacks.
Analysis · WAB · Manufacturing
The 10-Q confirms the numbers the 8-K and press release put out this morning and fills in the detail behind them. Gross margin expanded to 37.3% from 34.7% on productivity, favorable mix and acquisition accretion, and nine-month operating cash flow jumped to $1,095M from $767M. Backlog reached a record $31.4B, up $4.0B in nine months, which supports the raised 2026 EPS guidance of $10.85-$11.00. The offset is balance-sheet: cash fell to $489M from $789M and total available liquidity to $2,091M from $3,207M after the $1.053B Dellner Couplers deal and $762M of buybacks, while debt rose to $6.38B from $5.54B. Nothing here changes the thesis set by the morning's release, but it confirms the quality of the quarter.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 29.1% of the 1524 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.52%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WAB was trading at $284.37 on NYSE in the Manufacturing sector, with a market capitalization of approximately $48B. The 52-week trading range was $186.06 to $306.64. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.