Wabtec Beats on Q3, Raises 2026 Adjusted EPS Guidance to $10.85-$11.05
WAB sits 49% above its 52-week low of $186.06.
Summary
Wabtec posted 8.1% sales growth and 22% adjusted EPS growth in Q3, then raised 2026 adjusted EPS guidance to $10.85-$11.05. Backlog rose 22.9% year over year to $31.4B.
Key Events · Earnings and Guidance · WAB
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Q3 Sales Up 8.1% to $3.12B
Freight sales rose 6.9% and Transit 11.3%, helped by the Frauscher and Dellner acquisitions; organic growth contributed $137M of the $234M increase.
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Adjusted EPS Up 22% to $2.83
GAAP EPS was $2.42, up 33.7%. Adjusted operating margin expanded 1.9 pts to 22.9% on gross margin improvement and operating leverage.
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2026 Adjusted EPS Guidance Raised
Guidance lifted to $10.85-$11.05 from $10.60-$10.90, a $0.20 midpoint increase and roughly 22% growth versus 2025. Revenue guidance held at $12.30-$12.60B.
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Backlog Grows 22.9% to $31.4B
Multi-year backlog reached $31.435B versus $25.577B a year ago; the 12-month backlog of $8.992B is up 8.8% and provides near-term revenue visibility.
Analysis · WAB · Manufacturing
Wabtec delivered a strong Q3 across the board: sales rose 8.1% to $3.12B, adjusted operating margin expanded 1.9 pts to 22.9%, and adjusted EPS climbed 22% to $2.83. Management raised and tightened full-year adjusted EPS guidance to $10.85-$11.05, a $0.20 midpoint increase, while holding revenue at $12.30-$12.60B. The number that matters most is the multi-year backlog of $31.4B, up 22.9% year over year, which locks in revenue visibility well beyond 2026 and underpins the margin-expansion story. Cash generation was solid at $455M for the quarter with 82% conversion, and the company returned $305M via buybacks plus $52M in dividends, backed by $2.09B of liquidity and 2.1x leverage.
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In the 30 days to Oct 21, 2026, 29.2% of the 1544 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, WAB was trading at $278.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $47.9B. 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.