Wabtec Corporation (WAB) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Wabtec published the results on October 21, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Wabtec reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Wabtec's reported company name is Westinghouse Air Brake Technologies Corporation. Its adjusted EPS excludes non-cash amortization of acquired intangibles, restructuring and portfolio optimization costs, inventory purchase accounting charges and transaction costs.
• Year-over-year growth includes acquisitions: Evident's Inspection Technologies division (July 1, 2025), Frauscher Sensor Technology (December 2025) and Dellner Couplers (2026). Wabtec says acquisitions added $114 million of Q3 sales.

Source: Wabtec Q3 2026 results (Form 8-K, Exhibit 99.1), October 21, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Wabtec splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Wabtec's Freight revenue was $2.2 billion in Q3 2026, up 7% from $2.1 billion in Q3 2025, 72% of total revenue.
• Wabtec's Transit revenue was $883 million in Q3 2026, up 11% from $793 million in Q3 2025, 28% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Wabtec said:

“Wabtec raised and tightened its 2026 adjusted EPS guidance range to $10.85-$11.05, raising it $0.20 at the midpoint, or up 22.0% versus prior year.”

“For the full year 2026, Wabtec continues to expect revenues to be between $12.30 billion to $12.60 billion, up 11.5% at the midpoint versus prior year.”

Source: Wabtec Q3 2026 release, Oct 21, 2026.

This is the company's own guidance as of Oct 21, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the WAB forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net sales and diluted EPS attributable to Wabtec shareholders, each as first reported in that quarter's release.

We do not hold a confirmed date for Wabtec's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 21, 2026

Wabtec reported Q3 2026 net sales of $3,120 million, up 8.1%. The Freight segment brought in $2,237 million, led by Services at $794 million and Equipment at $679 million, and the Transit segment $883 million, of which $475 million was aftermarket and $408 million original equipment. (Wabtec Q3 2026 release, Oct 21, 2026)

Wabtec's Freight segment makes new and modernized locomotives and supplies aftermarket parts and services; in 2025 it was about 72% of total net sales, with about 58% of its sales in the aftermarket. Transit makes and services components for passenger vehicles such as regional and high speed trains, subway cars and buses. About half of Wabtec's net sales come from customers outside the United States. (Wabtec Form 10-K, 2025, Feb 13, 2026; Wabtec Form 10-Q, Q3 2026, Oct 21, 2026)

Wabtec attributes Freight's 6.9% growth to Services, up 6.7% on core demand and more modernization deliveries, and Digital, up 24.2% on the Frauscher Sensor Technologies acquisition and core digital demand. Equipment rose only 0.3% because higher mining sales were partly offset by lower locomotive deliveries. Transit grew 11.3%, or 12.5% in constant currency, helped by the Dellner Couplers acquisition. (Wabtec Q3 2026 release, Oct 21, 2026)

Of the $234 million rise in Wabtec's sales, acquisitions added $114 million and organic growth $137 million, while divestitures and exits took away $12 million and currency $5 million. (Wabtec Q3 2026 release, Oct 21, 2026)

Wabtec's total backlog reached $31,435 million at September 30, 2026, up 22.9% from $25,577 million a year earlier, and its 12-month backlog was $8,992 million. Freight accounts for $25,765 million of the total. Orders in the quarter included a locomotive service order of about $700 million for the Simandou mining project and $633 million of new locomotive and modernization orders from two North American Class 1 customers. (Wabtec Q3 2026 release, Oct 21, 2026; Wabtec Q3 2026 earnings presentation (Exhibit 99.2), Oct 21, 2026)

Wabtec's GAAP diluted EPS was $2.42, up 33.7%, and its adjusted EPS $2.83, up 22.0%. The gap is mostly non-cash amortization of acquired intangibles, worth $0.39 a share in the quarter, plus $0.02 of restructuring and portfolio optimization costs. The year-ago quarter also carried an inventory purchase accounting charge of $0.11 and transaction costs of $0.05. (Wabtec Q3 2026 release, Oct 21, 2026)

Wabtec said both EPS figures rose because of higher sales, operating margin expansion and non-operational benefits mainly from currency. GAAP gross margin rose to 37.3% from 34.7%, and income from operations climbed to $625 million from $491 million. Interest expense rose to $80 million from $65 million. (Wabtec Q3 2026 release, Oct 21, 2026)

Wabtec's diluted share count fell to 168.8 million from 171.1 million. It repurchased $305 million of stock and paid $52 million in dividends in the quarter. The effective tax rate was 26.3%, against 26.4% a year earlier. (Wabtec Q3 2026 release, Oct 21, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Wabtec raised and tightened its 2026 adjusted EPS guidance to $10.85 to $11.05, up $0.20 at the midpoint, and kept its revenue outlook of $12.30 billion to $12.60 billion. It does not give a GAAP EPS forecast, saying it cannot predict restructuring, acquisition-related and other charges with reasonable certainty. (Wabtec Q3 2026 release, Oct 21, 2026)

Wabtec's earnings presentation lists the assumptions behind the outlook: a tax rate of about 24.5%, capital spending of about 2% of sales, and tariffs as in effect on October 21, 2026, excluding IEEPA tariff refunds in the fourth quarter. (Wabtec Q3 2026 earnings presentation (Exhibit 99.2), Oct 21, 2026)

A consensus figure is the average of the models published by the analysts who cover Wabtec, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Wabtec's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning WAB is on is WAB a buy or a sell?, what analysts expect next is on the WAB forecast, and what the company does is on the Wabtec Corporation (WAB) stock page.

Every number on this page can be traced to a document Wabtec published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.