WESTINGHOUSE AIR BRAKE TECHNOLOGIES (WAB) Stocks
ABOUT WESTINGHOUSE AIR BRAKE TECHNOLOGIES
📊 Westinghouse Air Brake Technologies Corporation provides freight car and locomotive products, critical components, signaling and logistics systems and services to railway markets.
📊 The company emphasizes innovation, productivity, reliability and safety. The company boasts state of the art manufacturing facilities, global service delivery and extraordinary performance.
📊 The company’s portfolio includes over 4 000 active patents, more than 100 facilities, 27 000 employees and customers in more than 50 countries. The company’s headquarters is in Wilmerding, Pennsylvania.
HISTORY OF WESTINGHOUSE AIR BRAKE TECHNOLOGIES
- In 1869 Westinghouse Air Brake Company is founded after the first air brake system is invented for railroad markets by George Westinghouse. In 1872 the first automatic air brake system is invented. Brakes would automatically apply if it loses pressure or the train separates. This invention expands the company’s portfolio. Electro-pneumatic brakes for subway trains are invented in 1910.
- The company’s assets are bought in a management buyout.
- A few years later the company starts trading on the New York Stock Exchange. Now Wabtec, the company buys Swiger Coil Systems’ assets for a purchase price of $43 million in 2010.
- Four years later the company buys an industrial equipment producer, Fandstan Electric Group, for a price of $199.4 million.
- In 2018 Westinghouse Air Brake Technologies announces that it would merge with GE Transportation in a deal valued at $11 billion.
VISION & VALUES OF WESTINGHOUSE AIR BRAKE TECHNOLOGIES
- A strict code of conduct is followed when conducting business. Westinghouse Air Brake Technologies Corporation values safety above all else. The company’s customers and shareholders are always put first when decisions for the company are made. It ensures that changes are anticipated and correctly responded to.
- The Wabtec Foundation reinforces social and environmental responsibilities towards surrounding communities. It is Wabtec’s mission to create value to its clients and stakeholders. The company is committed creating value to its customers and shareholders. The foundation increased educational gifts with 2.5 percent.
- Contributions that are made to charitable nonprofits increases with 88 percent. Wabtec Foundation Scholarships are increased with 9.5 percent. The Wabtec Foundation assists with a wide range of organizations and provides charitable gifts, works in social services, health, youth, community activities and gift matching programs.
- Different choices are given to the company’s locations, depending on the conditions and environment. Conventional lights are replaced with LED lights, installing heat exchangers, solar panels, leakage detection, window solar screen shades, rainwater harvesting, mobile energy encounters as well as improvement on waste management.
MARKET PERFORMANCE OF WESTINGHOUSE AIR BRAKE TECHNOLOGIES
- Westinghouse Air Brake Technologies Corporation trades on the New York Stock Exchange under the NYSE stock symbol “WAB”.
- Data analysis for the company’s quarterly period ended June 30, 2019 reports total assets of $ 18,942,593 thousand. Cash and cash equivalents are $ 461,371 thousand.
- Total cost of sales is $ 1,621,608 thousand and gross profit is $ 614,676 thousand. Total operating expenses are $ 414,039 thousand. Net income is $ 102,854 thousand and net cash provided by operating activities is $ 443,924 thousand. Cash dividends are $ 34,263 thousand.