Wabtec Corporation announced its third‑quarter 2025 financial results on October 22, 2025. The company reported GAAP earnings per diluted share of $1.81 and adjusted earnings per diluted share of $2.32, up 11.0% and 16.0% respectively from the same quarter a year earlier. Net sales for the quarter were $2.89 billion, an 8.4% increase from $2.66 billion in Q3 2024.
Freight segment sales rose to $2.09 billion, a 8.4% year‑over‑year gain, with a GAAP gross margin of 35.8% and an adjusted gross margin of 37.0%. Transit segment sales increased to $793 million, a 8.2% rise, with a GAAP gross margin of 31.7% and an adjusted gross margin of 31.8%.
Total consolidated backlog reached $25.58 billion, up 15.0% from $22.23 billion in the prior year, and cash from operations was $367 million, representing an operating cash flow conversion of 83%. The company’s adjusted operating margin for the quarter was 21.0%, up 1.3 percentage points from 19.7% in Q3 2024.
Wabtec also announced that it has raised and tightened its adjusted earnings per diluted share guidance for the full 2025 year. The updated guidance reflects the company’s confidence in sustaining its earnings momentum and supporting its long‑term growth strategy.
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