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WAB 8-K filings in 2025
Every material Form 8-K Wabtec filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Wabtec reported third quarter 2025 sales of $2.89 billion, up 8.4%, with GAAP diluted EPS of $1.81 (up 11.0%) and adjusted diluted EPS of $2.32 (up 16.0%). The company raised its 2025 adjusted EPS guidance to $8.85 to $9.05, up $0.10 at the midpoint, while its full-year revenue outlook of $10.925 billion to $11.225 billion was unchanged. Cash from operations fell to $367 million from $542 million, which the company partly attributed to higher tariffs and working capital.
Q3 2025 sales were $2.89 billion, up 8.4%; GAAP EPS was $1.81 and adjusted EPS was $2.32.
2025 adjusted EPS guidance was raised and tightened to $8.85 to $9.05, up $0.10 at the midpoint.
Full-year 2025 revenue guidance of $10.925 billion to $11.225 billion was continued, not changed.
Q3 cash from operations was $367 million versus $542 million a year earlier; 12-month backlog rose 8.4% to $8,267 million.
Wabtec reported second-quarter 2025 GAAP diluted earnings per share of $1.96, up 19.5%, and sales of $2.71 billion, up 2.3%. The company raised its 2025 adjusted EPS guidance to $8.55 to $9.15, which it attributed to first-half performance, acquisitions and cost management.
GAAP diluted EPS was $1.96 and adjusted diluted EPS was $2.27, up 15.8% from a year earlier.
Full-year 2025 adjusted EPS guidance rose to $8.55 to $9.15, up $0.20 at the mid-point.
Revenue guidance was raised by $200 million at the mid-point to a range of $10.925 billion to $11.225 billion, largely reflecting the Evident Inspection Technologies Division acquisition completed July 1, 2025.
Operating cash flow was $209 million versus $235 million a year earlier, partly due to delayed second-quarter locomotive deliveries.
On May 29, 2025, Wabtec completed a public offering of $500 million of 4.900% senior notes due 2030 and $750 million of 5.500% senior notes due 2035. The notes are senior unsecured obligations, guaranteed by certain subsidiaries, and add new long-term debt to the company's balance sheet.
2030 Notes: $500 million, 4.900% interest, maturing May 29, 2030
2035 Notes: $750 million, 5.500% interest, maturing May 29, 2035
Interest paid semi-annually starting November 29, 2025; change of control triggers an offer at 101% of principal
Offering made under shelf registration filed November 8, 2023, and amended May 19, 2025; trustee is U.S. Bank Trust Company
Wabtec entered an Amended and Restated Credit Agreement dated April 23, 2025, with PNC Bank as administrative agent. The agreement replaces its existing delayed draw term loan and revolving credit agreement and its March 2024 term credit agreement, and it adds a $2.0 billion revolving facility, a $725.0 million term loan, and up to $1.0 billion of optional incremental commitments. For shareholders, the filing shows a refinancing and expanded borrowing capacity with both facilities maturing April 23, 2030, but it does not report any change to earnings or guidance.
Revolving Credit Facility of up to $2.0 billion and Term Loan Facility of $725.0 million, both maturing April 23, 2030
Term loan proceeds refinanced $250 million of existing delayed draw term loans and $225.0 million of existing term loans
Incremental facility permits up to $1.0 billion in additional commitments, subject to conditions
Facilities are unsecured, guaranteed by certain subsidiaries, and include a change of control event of default
Wabtec reported first-quarter 2025 sales of $2.61 billion, up 4.5%, with GAAP diluted earnings per share of $1.88, up 22.9%, and adjusted diluted EPS of $2.28, up 20.6%. The company raised the midpoint of its full-year 2025 adjusted EPS guidance by $0.10 and widened the range to $8.35 to $8.95, citing economic uncertainty, while its revenue guidance of $10.725 billion to $11.025 billion was unchanged.
Q1 2025 sales were $2.61 billion, up 4.5% from $2.497 billion a year earlier; GAAP operating margin was 18.2% versus 16.5%.
Adjusted diluted EPS guidance midpoint rose $0.10, with the range widened to $8.35 to $8.95.
Revenue guidance remained at $10.725 billion to $11.025 billion; full-year operating cash flow conversion is expected to exceed 90%.
Q1 operating cash flow fell to $191 million from $334 million, mainly due to higher accounts receivable; the company returned $141 million to shareholders via dividends and buybacks.
Wabtec reported fourth-quarter 2024 sales of $2.58 billion, up 2.3% from a year earlier, with GAAP diluted EPS of $1.23 (up 2.5%) and adjusted diluted EPS of $1.68 (up 9.1%). It also issued 2025 guidance for adjusted EPS of $8.35 to $8.75 and sales of $10.725 billion to $11.025 billion, and raised its quarterly dividend by 25%.
Wabtec agreed on January 13, 2025 to acquire the Inspection Technologies division of Evident for $1.78 billion in cash, subject to customary adjustments. The division is expected to generate about $433 million in 2024 revenue and $112 million in EBITDA, and Wabtec expects to finance the deal with cash on hand, its credit revolver and an incremental term loan, with pro forma net leverage of about 2.5x.
Purchase price of $1.78 billion in cash, subject to customary adjustments; about 12.0x projected 2025 EBITDA as adjusted by Wabtec
Evident Inspection Technologies expected 2024 revenue of about $433 million, EBITDA of about $112 million (25.9% margin) and about 68% recurring revenue
Financing from cash on hand, credit revolver and incremental term loan; pro forma net leverage of about 2.5x at closing
Closing expected by the end of the first half of 2025, subject to regulatory approvals and customary conditions
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Wabtec filing is on SEC EDGAR ↗. 8-K briefs of other companies →