Westinghouse Air Brake Technologies (WAB) Q4 FY25 earnings call

Earnings call· Dec 2025 (Q4 FY25)· Industrials· Feb 11, 2026

Source: earnings call transcript

Wabtec concluded FY25 with robust financial performance, driven by strong top-line growth and significant adjusted EPS expansion. The company's strategic acquisitions and operational efficiencies contributed to a record multiyear backlog, providing substantial revenue visibility for FY26 and beyond. Despite headwinds in the North American railcar build and timing shifts in modernization deliveries, Wabtec remains confident in its ability to deliver continued profitable growth and shareholder returns, supported by a strong pipeline and disciplined capital allocation.

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WAB operating KPIs by quarter

WAB operating KPIs stated on its earnings calls, by fiscal quarter
KPI	This call Dec 2025 Q4 FY25	Jun 2026 Q2 FY26	Change vs prior quarter
Backlog Multiyear	$27B+ The 12-month backlog closed the year at $8.2 billion, up 7% from the prior year, while the multiyear backlog surpassed $27 billion, up 23%. Source: earnings call transcript	$30B+ 12-month backlog was up 11% from the prior year, while the multiyear backlog exceeded $30 billion, up 42%. Source: earnings call transcript	—
Backlog Freight 12-month	$6.02B Finally, segment 12-month backlog was $6.02 billion. Source: earnings call transcript	$6.64B Finally, the Freight segment's 12-month backlog was $6.64 billion. Source: earnings call transcript	+10.3%
Backlog Freight multiyear	$22.49B Our 12-month backlog was up 8.0% while the multiyear backlog of $22.49 billion was up 25.1%. Source: earnings call transcript	$25.33B Our 12-month backlog was up 10.2%, while the multiyear backlog of $25.33 billion was up 47.8%. Source: earnings call transcript	+12.6%
Backlog Transit 12-month	$2.21B Finally, Transit segment 12-month backlog for the quarter was $2.21 billion, our 12-month backlog was up 5.1%, while the multiyear backlog was up 14.7%. Source: earnings call transcript	$2.5B Finally, Transit segment 12-month backlog for the quarter was $2.5 billion, and our 12-month backlog was up 14.5%, while the multiyear backlog was up 19.4%. Source: earnings call transcript	+13.1%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

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