10-Q · July 22, 2026
Wabtec posted a strong Q2, with revenue increasing 17.5% year over year to $3.179 billion, gross margin expanding 180 basis points to 36.5%, and GAAP EPS of $2.33 versus $2.12 in Q1 2026 and $1.96 a year earlier. Both…
Earnings analysis · 10-Q
WAB earnings analysis
Filed October 21, 2026 · Our reading of the company's report
The latest report
Wabtec delivered a strong earnings outcome, with adjusted EPS of $2.83 beating the $2.73 consensus estimate, although $3.12 billion of revenue missed the $3.1949 billion estimate. Management raised and tightened 2026…
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Wabtec delivered a strong earnings outcome, with adjusted EPS of $2.83 beating the $2.73 consensus estimate, although $3.12 billion of revenue missed the $3.1949 billion estimate. Management raised and tightened 2026 adjusted EPS guidance to $10.85-$11.05 while maintaining revenue guidance at $12.30 billion-$12.60 billion. The filing reports no material changes to risk factors from the 2025 Form 10-K, but substantial share repurchases and the revenue shortfall remain watchpoints.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.83
What stood out
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Adjusted EPS beat consensus
Adjusted EPS was $2.83, exceeding the $2.73 consensus estimate by $0.10.
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EPS outlook was raised
Management raised and tightened 2026 adjusted EPS guidance to $10.85-$11.05, increasing the midpoint by $0.20.
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Revenue outlook maintained
2026 revenue guidance was maintained at $12.30 billion-$12.60 billion despite quarterly revenue of $3.12 billion versus the $3.1949 billion consensus estimate.
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Significant share repurchases
The company repurchased 1,077,084 shares during the quarter at an average price of $282.42 per share, with $456 million remaining under the authorization at September 30, 2026.
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Segments and backlog grew
Both operating segments and backlog reportedly grew, supporting the company’s positive operating trajectory, although segment-specific figures are not available in the supplied filing text.
What to watch
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Revenue missed consensus
Quarterly revenue was $3.12 billion, approximately $74.9 million below the $3.1949 billion consensus estimate, indicating a top-line shortfall despite the EPS beat.
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Capital allocation reduces flexibility
The company repurchased 1,077,084 shares for $304.2 million based on the reported average price of $282.42, leaving $456 million under the authorization and reducing flexibility for other capital uses.
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Interest and FX exposure unchanged
The filing states that market-risk exposure had not changed materially since December 31, 2025; however, the company remains exposed to interest-rate and foreign-currency risks identified in the filing.
Management's outlook
2026 adjusted EPS guidance was raised and tightened to $10.85-$11.05, up $0.20 at the midpoint; revenue guidance was maintained at $12.30 billion-$12.60 billion.
Earlier filings 2
10-Q · April 22, 2026
Wabtec reported Q1 2026 revenue of $2,950 million, up $340 million (13.0%) versus Q1 2025 ($2,610 million), with gross profit rising to $1,061 million and diluted EPS increasing to $2.12 from $1.88. Operating income…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.