Q1 2025 Westinghouse Air Brake Technologies Corp Earnings Call Transcript
Key Points
- Sales increased by 4.5% to $2.6 billion, with adjusted EPS up 21% from the previous year.
- The 12-month backlog grew by 6% to $8.2 billion, indicating strong business momentum.
- International markets are performing well, with significant opportunities in Africa, Asia, and CIS regions.
- The company secured major orders, including a $300 million service agreement in Kazakhstan and a $140 million order for new locomotives in North America.
- WAB's international revenue has been growing at a high single-digit rate, delivering higher profitability than the North American region.
- Caution is advised for the North American market due to tariff activities and mixed freight business metrics.
- The North American railcar build is expected to decrease by 17% compared to last year.
- Equipment sales decreased by 9.5% due to a shift in capacity to modernizations.
- Foreign currency exchange had an adverse impact on sales and gross profit.
- The economic environment remains uncertain and volatile, requiring proactive cost management.
Good morning and welcome to the Wabtec first-quarter 2025 earnings conference call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Kyra Yates, Vice President of Investor Relations. Please go ahead.
Thank you, operator. Good morning, everyone, and welcome to Wabtec's first-quarter 2025 earnings call. With us today are President and CEO, Rafael Santana; CFO, John Olin; and Senior Vice President of Finance, John Mastalerz. Today's slide presentation along with our earnings release and financial disclosures were posted to our website earlier today and can be accessed on the investor relations tab.
Some statements we are making are forward-looking and based on our best view of the world and our business today. For more detailed risks, uncertainties, and assumptions relating to our forward-looking statements, please see the disclosures in our earnings release and presentation. We will also discuss non
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