Westinghouse Air Brake Technologies Corporation · NYSE:WAB

Westinghouse Air Brake Technologies — Q3 2020 Earnings Presentation

21 slides from Westinghouse Air Brake Technologies's earnings presentation, Oct 29, 2020

  1. Slide 1: Wabtec 3rd Quarter 2020 Financial Results & Company Highlights

    Wabtec 3rd Quarter 2020 Financial Results & Company Highlights October 29, 2020 Exhibit 99.2

  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

  3. Slide 3: 3Q 2020 highlights

    3Q 2020 highlights Continued execution in challenging and dynamic environment 3Q 2020 $1.9B Sales $230M Cash from Operations 93% Cash Conversion Revenues down 7% … global Freight and Transit beginning to recover 11.1% Operating Margin 15.7% GAAP Adj. EPS $0.95 GAAP Adj. $0.67 Key technology wins … N

  4. Slide 4: 3Q 2020 financial summary

    3Q 2020 financial summary Sales 2020 Operating Income 2020 EPS 2020 Adj 2019 Adj(3) 2020 Resilient business model driven by large installed base and aftermarket Adj. 2019 2020 Adj 2019 Adj(2) $1.9B $207M $0.67 $2.0B $333M $293M $1.10 $0.95 7% Adj Margin(1) 16.6% 15.7% 3Q 2019 GAAP margin was 8.4% an

  5. Slide 5: 3Q 2020 Freight segment performance

    3Q 2020 Freight segment performance Product Line YoY Equipment 35% Higher locomotive deliveries; stable mining sales Components (16%) Lower YoY freight car build offset somewhat by improving seq. aftermarket Services (19%) Favorable freight trends offset by high loco parkings; overhaul timing delaye

  6. Slide 6: 3Q 2020 Transit segment performance

    3Q 2020 Transit segment performance Product Line YoY OE (2%) Recovery from COVID disruption in OE projects Aftermarket (10%) Customer operations slowly resuming; Led by APAC and Europe, trailing in NA Sales 2020 Operating Income 2020 Backlog 3Q20 2Q20 2019 2020 Adj 2019 Adj(2) $0.6B $64M $0.7B $62M

  7. Slide 7: 3Q 2020 Financial position

    3Q 2020 Financial position Cash from Operations 3Q 2020 3Q 2019 3Q 2019 $124M $4.2B Net Debt $230M Strengthening financial position to execute strategic plans 85% 4Q 2019 1Q 2020 2Q 2020 3Q 2020 $3.8B $4.1B $3.9B $3.7B Decreased by ~$460M YoY

  8. Slide 8: Market update

    Market update Freight CASH CONVERSION(1) >90% GAAP EPS $2.35 to $2.45 REVENUES $7.5B to $7.6B ADJUSTED EPS $3.75 to $3.85 North Am. freight volumes recovering; international freight volumes improving Equipment slowly coming out of storage … supports recovery in aftermarket Strong modernization & int

  9. Slide 9: Summary

    Summary Solid 3Q performance in a challenging environment; resilient & diverse portfolio … continued improvement in Transit Executing on cost actions and synergies across the business … reducing fixed costs Strong cash generation … continue to strengthen financial position Solid foundation for growt

  10. Slide 10: CORPORATION

    CORPORATION

  11. Slide 11: Appendix

    Appendix

  12. Slide 12: Income statement

    Income statement Appendix A ( 1 of 2)

  13. Slide 13: Income statement (cont.)

    Income statement (cont.) Appendix A ( 2 of 2)

  14. Slide 14: Balance sheet

    Balance sheet ANCE SHEETS (UNAUDITED) In millions Cash and cash equivalents net otal ts Property, plant and equipment, net Goodwill Other intangibles, net Other long term assets assets Current liabilities ng-term debt Long-term liabilities - other Total liabilities Shareholders’ equity Non conoting

  15. Slide 15: Cash flow

    Cash flow Appendix C AIR BRAKE ries ‘Accounts Payable Other assets and liabilities Net cash provided by operating activities, Net cash used for investing activities Net cash (used for) provided by financing activities Effect of changes in currency exchange rates Decrease in cash (UNAUDITED) Cash, .

  16. Slide 16: EPS and non-GAAP Reconciliation (1 of 3)

    EPS and non-GAAP Reconciliation Appendix D (1 of 3)

  17. Slide 17: EPS and non-GAAP Reconciliation (2 of 3)

    EPS and non-GAAP Reconciliation Appendix D (2 of 3)

  18. Slide 18: EPS and non-GAAP Reconciliation (3 of 3)

    EPS and non-GAAP Reconciliation Appendix D (3 of 3)

  19. Slide 19: EBITDA reconciliation

    EBITDA reconciliation Appendix E

  20. Slide 20: Sales by product line

    Sales by product line Appendix F

  21. Slide 21: Segment reconciliation

    Segment reconciliation Appendix G

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