WESTINGHOUSE AIR BRAKE TECHNOLOGIES Reports Earnings for Second Quarter of FY2023
July 30, 2023
🌥️Earnings Overview
On July 27 2023, WESTINGHOUSE AIR BRAKE TECHNOLOGIES ($NYSE:WAB) revealed their financial results for the second quarter of FY2023, which ended on June 30 2023. The total revenue for the quarter was USD 2407.0 million, a 17.5% increase from the same quarter in the previous year. Additionally, the company’s net income grew 15.1% compared to the same period in the prior fiscal year, reaching USD 191.0 million.
Share Price
The company opened at $113.6 at the start of the day and closed at $117.4, up by 3.9% from its prior closing price of 113.0. This is a positive sign that WABT is continuing to perform well and is in a strong financial position. The company posted higher than expected sales and profits for the period, as well as improved market share in the railway industry.
Additionally, its air brake technologies were well-received by customers, resulting in higher demand for the products and services. The strong earnings report reflects the success of WABT’s strategic investments into its product and services portfolio, which have been designed to meet the needs of their customers. Going forward, WABT will continue to focus on providing innovative solutions and improvements to help customers build more efficient and cost-effective operations. As a result of its strong performance, WABT’s stock price rose, further emphasizing its strength in the market. With a solid outlook for the remainder of the year and beyond, WABT looks set to remain a reliable and profitable company for shareholders. 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
At GoodWhale, we have conducted an analysis of WESTINGHOUSE AIR BRAKE TECHNOLOGIES and found it to be a medium risk investment in terms of financial and business aspects. Our Risk Rating indicates that investors should take caution when deciding to invest. When looking at the income sheet and balance sheet of WESTINGHOUSE AIR BRAKE TECHNOLOGIES, we have detected two risk warnings that investors should take into consideration. If you are interested in getting more information on this company, please register with us and we will provide a full breakdown of our findings. 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
Westinghouse Air Brake Technologies has just reported its earnings results for the second quarter of fiscal year 2023. Total revenue for the quarter was up 17.5% year-over-year, and net income rose 15.1%. This is a positive sign for investors, who responded by pushing the stock price up. Looking ahead, investors should consider the potential risks and rewards of investing in Westinghouse Air Brake Technologies.
Factors to consider include the company’s financial performance, competitive landscape, and management team. With these factors in mind, investors may find that Westinghouse Air Brake Technologies’ strong earnings results and outlook make it a worthwhile investment opportunity.
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