Wabtec Files 2024 10-K: Financials and Operations Detailed
Ticker: WAB · Form: 10-K · Filed: Feb 12, 2025 · CIK: 943452
Sentiment: neutral
Topics: 10-K, annual-report, railroad-equipment
TL;DR
Wabtec dropped its 2024 10-K. All the deets on revenue, costs, and future plans.
AI Summary
Westinghouse Air Brake Technologies Corp. (Wabtec) filed its 2024 10-K on February 12, 2025, reporting on its fiscal year ending December 31, 2024. The filing details the company's financial performance and business operations in the railroad equipment sector. Wabtec, headquartered in Pittsburgh, PA, has a history dating back to former entities like Wabtec Corp and Westinghouse Air Brake Co. /DE/.
Why It Matters
This 10-K filing provides investors and stakeholders with a comprehensive overview of Wabtec's financial health and strategic direction for the fiscal year 2024, crucial for understanding the company's performance in the railroad equipment industry.
Risk Assessment
Risk Level: medium — The filing is a standard annual report, but the railroad industry can be subject to cyclical demand and regulatory changes.
Key Numbers
- 20241231 — Fiscal Year End (Reporting period for the 10-K)
- 20250212 — Filing Date (Date the 10-K was submitted to the SEC)
Key Players & Entities
- WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP (company) — Filer
- 0000943452 (company) — Central Index Key
- PITTSBURGH, PA (location) — Business Address
- WABTEC CORP (company) — Former Company Name
- WESTINGHOUSE AIR BRAKE CO /DE/ (company) — Former Company Name
FAQ
What is the primary business of Westinghouse Air Brake Technologies Corp?
Westinghouse Air Brake Technologies Corp. operates in the railroad equipment industry, as indicated by its Standard Industrial Classification code [3743].
When did Westinghouse Air Brake Technologies Corp. file its 2024 10-K?
The company filed its 2024 10-K on February 12, 2025.
What is the company's headquarters location?
The company's business and mailing address is located at 30 Isabella Street, Pittsburgh, PA 15212.
Has the company operated under different names previously?
Yes, the company was formerly known as WABTEC CORP and prior to that, WESTINGHOUSE AIR BRAKE CO /DE/.
What is the fiscal year end for this report?
The fiscal year end for this report is December 31, 2024.
Filing Stats: 4,256 words · 17 min read · ~14 pages · Grade level 16.1 · Accepted 2025-02-12 15:29:23
Filing Documents
- wab-20241231.htm (10-K) — 2685KB
- wabex1016.htm (EX-10.16) — 1KB
- wabex191.htm (EX-19.1) — 41KB
- wabex210-10k2024.htm (EX-21.0) — 227KB
- wabex220-10k2024.htm (EX-22.0) — 5KB
- wabex231-10k2024.htm (EX-23.1) — 11KB
- wabex311-10k2024.htm (EX-31.1) — 9KB
- wabex312-10k2024.htm (EX-31.2) — 9KB
- wabex321-10k2024.htm (EX-32.1) — 9KB
- wab-20241231_g1.jpg (GRAPHIC) — 88KB
- wabex1016001.jpg (GRAPHIC) — 144KB
- wabex1016002.jpg (GRAPHIC) — 195KB
- wabex1016003.jpg (GRAPHIC) — 81KB
- 0001628280-25-005100.txt ( ) — 15671KB
- wab-20241231.xsd (EX-101.SCH) — 77KB
- wab-20241231_cal.xml (EX-101.CAL) — 131KB
- wab-20241231_def.xml (EX-101.DEF) — 451KB
- wab-20241231_lab.xml (EX-101.LAB) — 1041KB
- wab-20241231_pre.xml (EX-101.PRE) — 774KB
- wab-20241231_htm.xml (XML) — 2733KB
Risk Factors
Item 1A. Risk Factors 13
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 22
Cybersecurity
Item 1C. Cybersecurity 22
Properties
Item 2. Properties 23
Legal Proceedings
Item 3. Legal Proceedings 23
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 23 PART II
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24
[Reserved]
Item 6. [Reserved] 25
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 26
Quantitative and Qualitative Disclosures About Market Risk
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 41
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 42
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 83
Controls and Procedures
Item 9A. Controls and Procedures 83
Other Information
Item 9B. Other Information 83
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 83 PART III
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 84
Executive Compensation
Item 11. Executive Compensation 84
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 84
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 84
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 84 PART IV
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 85
Form 10-K Summary
Item 16. Form 10-K Summary 90 2 PART I
BUSINESS
Item 1. BUSINESS General Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, is a Delaware corporation with headquarters at 30 Isabella Street in Pittsburgh, Pennsylvania. Our telephone number is 412-825-1000, and our website is located at www.wabteccorp.com . Except as the context otherwise requires, all references to "we", "our", "us", the "Company" and "Wabtec" refer to Westinghouse Air Brake Technologies Corporation and its consolidated subsidiaries. George Westinghouse founded the original Westinghouse Air Brake Co. in 1869 when he invented the air brake. Westinghouse Air Brake Company ("WABCO") was formed in 1990 when it acquired certain assets and operations from American Standard, Inc., now known as Trane ("Trane"). The Company went public on the New York Stock Exchange in 1995. Throughout the years, the Company has made a number of strategic acquisitions leading the Company to where it is today. These have primarily included: the 1999 merger with MotivePower Industries, Inc. whereby the Company adopted its current name of Westinghouse Air Brake Technologies Corporation, or Wabtec; the 2017 acquisition of Faiveley Transport, S.A. ("Faiveley Transport"), a leading provider of value-added, integrated systems and services, primarily for the global transit rail market. Based in France, the Faiveley Transport business has roots to 1919 and made Wabtec a leader in manufacturing pantographs, automatic door mechanisms, air conditioning systems, railway braking systems and couplers; and, the 2019 acquisition of GE Transportation, a business unit of General Electric Company. This brought a global technology leader and supplier of locomotives, equipment, services and digital solutions to the rail, mining, marine, stationary power and drilling industries into Wabtec. As a result of those strategic acquisitions, as well as other smaller acquisitions and organic growth, Wabtec is a global provider of value-added, technology-based