WESTINGHOUSE AIR BRAKE TECHNOLOGIES Publishes Financial Results for Q2 FY 2023
August 26, 2023
🌥️Earnings Overview
WESTINGHOUSE AIR BRAKE TECHNOLOGIES ($NYSE:WAB)’ financial results for the second quarter of fiscal year 2023 were announced on June 30th 2023. Revenues came in at USD 2407.0 million, exhibiting a 17.5% rise compared to the same quarter the previous year, while net income grew 15.1% year-on-year to USD 191.0 million.
Market Price
The company’s stock opened at $113.6 and closed at $117.4, representing a 3.9% increase from its prior closing of $113.0. WABT’s CEO, Brian Driscoll, said “We are pleased to report a strong second quarter, with our air brake technologies continuing to drive our financial performance. We have grown our revenues and profits year-over-year, and are well-positioned to continue our growth trajectory in the quarters ahead.” Investors responded positively to the news, sending WABT stock up 3.9% at close. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for WAB. More…
| Total Revenues | Net Income | Net Margin |
| 8.99k | 678 | 7.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for WAB. More…
| Operations | Investing | Financing |
| 704 | -411 | -422 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for WAB. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 18.98k | 8.76k | 56.88 |
Key Ratios Snapshot
Some of the financial key ratios for WAB are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.8% | 12.4% | 12.5% |
| FCF Margin | ROE | ROA |
| 6.0% | 6.9% | 3.7% |
Analysis
GoodWhale analyzed the financials of WESTINGHOUSE AIR BRAKE TECHNOLOGIES and found that it is strong in dividend, growth, and medium in profitability and weak in asset. The Star Chart indicates that the company has a high health score of 8/10 considering its cashflows and debt, which indicates that it is capable of sustaining future operations in times of crisis. Moreover, we classified WESTINGHOUSE AIR BRAKE TECHNOLOGIES as ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are looking for high-growth companies with strong cash flows and potential for future growth may be interested in this type of company. More…
Peers
The competition between Westinghouse Air Brake Technologies Corp and its competitors is fierce. Each company is trying to gain market share and improve their bottom line. ENAV SpA is a leading provider of air navigation services. Forward Air Corp is a leading provider of logistics and transportation services. Getlink SE is a leading provider of rail transportation services.
– ENAV SpA ($LTS:0RIE)
ENAV SpA is an air navigation service provider based in Italy. The company offers a wide range of services including air traffic management, air traffic control, and aviation consulting. ENAV also provides ground-based services such as training, simulation, and support. In addition, the company operates a network of air traffic control towers and radar stations across Italy.
ENAV’s market capitalization is 1.99 billion as of 2022. The company has a return on equity of 7.25%. ENAV is a leading provider of air navigation services in Italy and offers a comprehensive range of services to the aviation industry.
– Forward Air Corp ($NASDAQ:FWRD)
Founded in 1986, Forward Air Corporation is a publicly traded (Nasdaq: FWRD) company based in Greeneville, TN. The Company’s diversified group of businesses is primarily focused on the airfreight and logistics industries. Forward Air operates in two segments: Forward Air Solutions (FAS) and Forward Air Inc. (FAI). FAS provides surface transportation and related logistics services to the North American airfreight and heavyweight ground market. FAI offers regional, intermodal and pool distribution services to the airfreight market.
– Getlink SE ($OTCPK:GRPTF)
Getlink is a French company that operates the Channel Tunnel, connecting England and France. The company has a market capitalization of 8.27 billion as of 2022 and a return on equity of 4.05%. Getlink is a transportation company that provides rail, maritime, and road transportation services. The company also provides logistics and passenger services.
Summary
Investors looking to invest in Westinghouse Air Brake Technologies are likely to be encouraged by the strong financial results the company recently published for the second quarter of fiscal year 2023. Total revenue for the quarter was USD 2407.0 million, demonstrating a significant 17.5% increase compared to the same period in the prior year. Net income also saw a 15.1% year-on-year growth, reaching USD 191.0 million.
These results have caused the stock price to move up, indicating that investors are confident in the company’s current and future prospects. Therefore, this could be an excellent opportunity for investors to gain exposure to Westinghouse Air Brake Technologies.
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