Westinghouse Air Brake Technologies Corporation · NYSE:WAB
Westinghouse Air Brake Technologies — Q1 2021 Earnings Presentation
19 slides from Westinghouse Air Brake Technologies's earnings presentation, Apr 29, 2021
Slide 1: Wabtec 1st Quarter 2021 Financial Results & Company Highlights
Wabtec 1st Quarter 2021 Financial Results & Company Highlights April 29, 2021 Exhibit 99.2
Slide 2: Forward looking statements & non-GAAP financial information
Forward looking statements & non-GAAP financial information This communication contains “forward-looking” statements as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigati
Slide 3: 1Q 2021 highlights
Global Freight and Transit continuing to recover … strong order pipeline of international locos; continued investment in global transit infrastructure 1Q 2021 highlights 1Q 2021 $1.8B Sales $292M(1) Cash from Operations $21.7B Backlog 10.5% Operating Margin 15.1% GAAP Adj. EPS $0.89 GAAP Adj. $0.59
Slide 4: 1Q 2021 financial summary
1Q 2021 financial summary SALES 2021 OPERATING INCOME 2021 EPS 2021 Adj 2020 Adj(3) 2021 2020 2021 Adj 2020 Adj(2) $1.8B $192M $0.59 $1.9B $303M $277M $0.97 $0.89 5% Adj. Margin(1) 15.7% 15.1% 1Q 2020 GAAP margin was 11.3% and 1Q 2021 GAAP operating margin was 10.5%. 1Q 2020 GAAP operating income wa
Slide 5: 1Q 2021 Freight segment performance
1Q 2021 Freight segment performance PRODUCT LINE YoY Equipment (36%) Lower loco deliveries (-48% YoY) driven by NA; Mining in recovery (units up >10% YoY) Components (8%) Improving aftermarket offset by 45% decline in NA OE railcar build Services 13% Improving YoY freight trends & weather drove unpa
Slide 6: 1Q 2021 Transit segment performance
1Q 2021 Transit segment performance PRODUCT LINE YoY OE - Recovery in global transit spend on new projects Aftermarket 5% Aftermarket resilient despite COVID resurgence SALES 2021 OPERATING INCOME 2021 BACKLOG 1Q21 4Q20 2020 2021 Adj 2020 Adj(2) $0.65B $70M $0.63B $75M $79M(3) $3.7B $3.7B(4) 11.9% 1
Slide 7: Resilient business allows for execution on financial priorities
Resilient business allows for execution on financial priorities FOCUSED ON CASH CONVERSION 1Q21 1Q20 ($82M) $292M Cash from Ops Strong cash generation … solid cash conversion of net income Focused working capital management … benefit from A/R securitization Executing on synergy goals … on track to d
Slide 8: Market update and 2021 guidance
Market update FREIGHT Locos & railcars gradually coming out of storage … continued recovery in aftermarket Multi-year international locomotive pipeline; mining improving Expected NA OE railcar build of <30K; NA loco deliveries at zero; constrained Class I capex; timing of international orders +/- Di
Slide 9: Solid foundation for growth and increased shareholder value
Investing in high return opportunities … leveraging installed base … profitable growth via new products & innovative technologies Driving continuous operational improvement and margin expansion … delivering on synergies … advancing lean culture Generating strong cash flow with disciplined capital al
Slide 10: Wabtec Corporation
CORPORATION
Slide 11: Appendix
Appendix
Slide 12: Income statement
Income statement Appendix A ( 1 of 2)
Slide 13: Income statement (cont.)
Income statement (cont.) Appendix A ( 2 of 2)
Slide 14: Balance sheet
Balance per sheet cles conroR (UNAUDITED) March 31, 2024 December 31, 2020 In millions Cash and cash equivalents. $ 4835 § Receivables, net 1,403.0 Invent 16715 f current assets 221.0 Total current assets 3,779.0 Property, plant and equipment, net 4,575.5 Goodwill 8,625.7 Other intangible assets, ne
Slide 15: Cash flow
Appendix C Cash flow TECHNOLOGIES 01 (UNAUDITED) fn millions ‘Operating activities Net income Non-cash expense ceivables Inventories Accounts Payable her assets and liabilities Net cash used for investing activities Net cash provided by financing activities Effect of changes in currency exchange rat
Slide 16: EPS and non-GAAP Reconciliation
EPS and non-GAAP Reconciliation Appendix D
Slide 17: EBITDA reconciliation
EBITDA reconciliation Appendix E
Slide 18: Sales by product line
Sales by product line Appendix F
Slide 19: Segment reconciliation
Segment reconciliation Appendix G
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