Wabtec Corp. recently reported its 3Q19 results, which include earnings per diluted share of $0.48 and adjusted earnings per diluted share of $1.03. In addition, Wabtec noted that it generated GAAP cash from operations of $124 million for the quarter and affirmed its 2019 GAAP cash from operations guidance of about $900 million.
Company expects to finish its 24-month ‘Back to Basics’ initiative at year-end with more than $5,000 savings in material cost per average railcar on a run-rate basis, $12 million in future cash savings from fixed cost reductions, and four key new or redesigned products. Focus now shifts to completing the Company’s recently announced joint venture plant in Mexico and weathering industry headwinds.
The European Commission published its list of energy projects on Thursday eligible to receive EU funding of up to 30 billion euros ($34 billion), including new oil and gas projects which are likely to draw criticism from Green EU lawmakers.
