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# Wabtec Raises 2026 Adjusted EPS Outlook To $10.85-$11.05 As Backlog Reaches $31.4 Billion
- URL: https://www.bullished.co/wabtec-raises-2026-adjusted-eps-outlook-to-10-85-11-05-as-backlog-reaches-31-4-billion-4b20c660/
- Published: 2026-10-21T11:22:16.000Z
- Updated: 2026-10-28T19:16:29.000Z
- Description: The rail equipment maker left its 2026 revenue forecast unchanged at $12.30 billion to $12.60 billion.
- Author: Matteo Parrino
- Tags: Earnings, WAB, Industry: Industrials

Wabtec raised and tightened its 2026 adjusted earnings guidance to [$10.85 to $11.05 per share](https://www.sec.gov/Archives/edgar/data/0000943452/000094345226000017/a3q26pressreleaseword.htm?ref=bullished.co), from $10.60 to $10.90, in third-quarter results furnished in an [8-K](https://www.sec.gov/Archives/edgar/data/0000943452/000094345226000017/wab-20261021.htm?ref=bullished.co) on Wednesday. Third-quarter sales rose 8.1% to $3.12 billion.

## What the results show

Adjusted earnings per share [rose 22.0%](https://financialpost.com/pmn/business-wire-news-releases-pmn/wabtec-reports-strong-third-quarter-2026-results-raised-and-tightened-adjusted-eps-guidance?ref=bullished.co) to $2.83, from $2.32 a year earlier. Earnings per share under standard accounting (GAAP) rose 33.7% to $2.42, from $1.81.

Adjusted operating margin widened [1.9 percentage points](https://financialpost.com/pmn/business-wire-news-releases-pmn/wabtec-reports-strong-third-quarter-2026-results-raised-and-tightened-adjusted-eps-guidance?ref=bullished.co) to 22.9%. The company said sales growth and better gross margins lifted both its standard and adjusted margins. Freight's adjusted operating margin was 26.4% and Transit's was 18.1%.

Freight sales rose 6.9% to $2.24 billion and Transit sales rose 11.3% to $883 million. Transit sales were up 12.5% on a constant-currency basis. Cash from operations was $455 million, versus $367 million a year earlier.

Chairman and CEO Rafael Santana said: "Wabtec delivered another strong quarter, evidenced by sales growth, margin expansion and a 22% increase in adjusted EPS."

## What changes: guidance, backlog and the caveats

The company raised the midpoint of its adjusted EPS range by $0.20\. Its revenue forecast stayed at $12.30 billion to $12.60 billion. The guidance assumes tariffs in effect as of October 21, 2026, and excludes IEEPA tariff refunds in the fourth quarter, according to the [earnings presentation](https://www.sec.gov/Archives/edgar/data/0000943452/000094345226000017/wab3q26earningspresentat.htm?ref=bullished.co).

Total backlog stood at $31.4 billion at September 30, 2026, up 22.9% from a year earlier. The 12-month portion was $8.99 billion, up 8.8%.

Part of the sales gain came from acquisitions, including Frauscher Sensor Technologies in Freight and Dellner Couplers in Transit. The company also said the earnings-per-share increase reflected non-operational benefits, primarily currency fluctuations, alongside higher sales and margin expansion.

The company repurchased $305 million of shares and paid $52 million in dividends during the quarter. Total debt was $6.38 billion at quarter-end.

## What to watch

Wabtec held a call with analysts and investors at 8:30 a.m. ET on Wednesday to go through the results.

The fourth-quarter tariff-refund exclusion is the one stated assumption that could move the guided range if it changes.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP (WAB)](https://www.sec.gov/Archives/edgar/data/0000943452/000094345226000017/wab-20261021.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit a3q26pressreleaseword.htm — WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000943452/000094345226000017/a3q26pressreleaseword.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit wab3q26earningspresentat.htm — WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000943452/000094345226000017/wab3q26earningspresentat.htm?ref=bullished.co) — SEC EDGAR
- [Wabtec Reports Strong Third Quarter 2026 Results, Raised and Tightened Adjusted EPS Guidance | Financial Post](https://financialpost.com/pmn/business-wire-news-releases-pmn/wabtec-reports-strong-third-quarter-2026-results-raised-and-tightened-adjusted-eps-guidance?ref=bullished.co) — financialpost.com

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- [Wabtec CEO Says Order Coverage Is 'The Strongest It's Ever Been' Even As Railroads Hold Buying Habits](https://www.bullished.co/wabtec-ceo-says-order-coverage-is-the-strongest-its-ever-been-even-as-railroads-hold-9b106712/)
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[All Westinghouse Air Brake (WAB) coverage →](https://www.bullished.co/tag/wab/)