Analyst Consensus ?
ConsensusBuy33 ratings
Bullish2060.6%
Neutral1236.4%
Bearish13.0%
Westinghouse Air Brake Technologies Corporation · WAB · FY2025 Q4 · Calendar Q1 2026
WAB pairs strong Q4 momentum with raised 2026 outlook
WAB’s strong Q4 results, record backlog, acquisition-led digital growth, and raised 2026 outlook support a constructive operating trajectory. The main counterweights are tariff exposure, softer North American railcar builds, modernization timing, and potential mix pressure.
Reported Before market openNYSEIndustrials
$49.40B market cap
90quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.10
Consensus $2.08
EPS surprise
+1.0%
Reported versus consensus
Reported revenue
$2.96B
Consensus $2.87B
Revenue surprise
+3.5%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+3.2%
Event window
SPY move
-0.0%
Same window
Abnormal move
+3.3%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
-5.5%
Up to 20 sessions
WABSPY benchmark
Ask FN2 about WAB FY2025 Q4
Transcript, numbers and history already loaded
Why did WAB rise 3.2% after beating EPS estimates in FY2025 Q4?What changed in WAB's guidance and outlook in FY2025 Q4?Give me the bull and bear case for WAB after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The quarter added evidence of broad operating momentum: sales and adjusted EPS grew strongly, backlog exceeded $27 billion, guidance was raised, and management highlighted the EVO modernization launch plus recent acquisition integration. Tariffs and railcar-build weakness remain explicit offsets.
Guidance delta
2026 guidance was raised; management’s outlook calls for 10.5% revenue growth and 14% EPS growth despite tariff headwinds and softer North American railcar builds.
Key takeaways
- Q4 sales grew 15% year over year and adjusted EPS increased 25%.
- Backlog exceeded $27 billion, supporting visibility into 2026 revenue.
- Recent acquisitions are expanding digital intelligence and sensor offerings.
- The EVO modernization program is planned for 2026 fleet-renewal demand.
- Management emphasized cash conversion, selective growth investment, and integration savings.
Management priorities
- Launch the EVO modernization program in 2026.
- Integrate Frauzer, Downer, Inspection Technologies, and other recent acquisitions.
- Expand digital intelligence and PTC/Kinetics deployments globally.
- Invest selectively in growth capex while maintaining cash-conversion discipline.
- Continue cost savings through Integration 3.0 and portfolio optimization.
Follow WAB with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$291.26Current
$103Low
$252.5Average
$355High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Neutral | Neutral | Maintain | Sep 21, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 13, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 23, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jul 23, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jul 23, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 23, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Jul 23, 2026 |
| Rothschild & Co | Buy | Neutral | Upgrade | Mar 26, 2026 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jan 8, 2026 |
| B of A Securities | Buy | Buy | Maintain | Nov 13, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Apr 24, 2025 |
| TD Cowen | Hold | Hold | Maintain | Apr 25, 2024 |
| Redburn Atlantic | Neutral | Buy | Downgrade | Feb 15, 2024 |
| Jefferies | Buy | Hold | Upgrade | Jan 11, 2024 |
| Raymond James | Outperform | Outperform | Maintain | Jul 28, 2023 |
| Atlantic Equities | Overweight | Overweight | Maintain | Feb 16, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Apr 15, 2020 |
| Buckingham Research | Neutral | Neutral | Maintain | Oct 18, 2019 |
| Buckingham | Neutral | Neutral | Maintain | Oct 18, 2019 |
| Bank of America | Underperform | Underperform | Maintain | Oct 16, 2019 |
| Citi | Neutral | Neutral | Maintain | Jul 10, 2019 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jul 25, 2018 |
| Stifel | Buy | Buy | Maintain | Jul 25, 2018 |
| Mizuho | Neutral | Neutral | Maintain | Jun 29, 2018 |
| Wellington Shields | Hold | Gradually Accumulate | Downgrade | May 16, 2018 |
| Deutsche Bank | Buy | Hold | Upgrade | May 14, 2018 |
| Seaport Global | Buy | Buy | Maintain | Jan 4, 2018 |
| Edward Jones | Hold | Buy | Downgrade | Jul 26, 2017 |
| William Blair | Outperform | Market Perform | Upgrade | Dec 21, 2016 |
| Longbow Research | Neutral | Buy | Downgrade | Oct 25, 2016 |
| CLSA | Buy | Buy | Maintain | Sep 30, 2016 |
| Wunderlich | Buy | Buy | Maintain | Oct 9, 2014 |
| Credit Suisse | Outperform | Outperform | Maintain | Sep 5, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $291.26. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Stephens | Justin Long | $330 | $289.98 | +13.3% | Jul 23, 2026 |
| KeyBanc | Analyst unavailable | $340 | $289.98 | +16.7% | Jul 23, 2026 |
| Susquehanna | Analyst unavailable | $340 | $289.98 | +16.7% | Jul 23, 2026 |
| Morgan Stanley | Analyst unavailable | $355 | $289.98 | +21.9% | Jul 23, 2026 |
| Morgan Stanley | Analyst unavailable | $318 | $266.64 | +9.2% | Apr 27, 2026 |
| Wolfe Research | Analyst unavailable | $303 | $268.82 | +4.0% | Apr 23, 2026 |
| Susquehanna | Bascome Majors | $305 | $261.47 | +4.7% | Apr 23, 2026 |
| RBC Capital | Analyst unavailable | $291 | $261.47 | -0.1% | Apr 22, 2026 |
| Morgan Stanley | Analyst unavailable | $315 | $258.8 | +8.2% | Feb 17, 2026 |
| Susquehanna | Bascome Majors | $300 | $261.15 | +3.0% | Feb 12, 2026 |
| KeyBanc | Steve Barger | $308 | $254.42 | +5.7% | Feb 12, 2026 |
| Susquehanna | Bascome Majors | $280 | $232.6 | -3.9% | Jan 26, 2026 |
| Morgan Stanley | Angel Castillo | $264 | $224.9 | -9.4% | Jan 12, 2026 |
| Wolfe Research | Analyst unavailable | $245 | $216.62 | -15.9% | Jan 8, 2026 |
| Wells Fargo | Analyst unavailable | $221 | $204.27 | -24.1% | Nov 13, 2025 |
| Susquehanna | Bascome Majors | $240 | $195.71 | -17.6% | Oct 23, 2025 |
| KeyBanc | Steve Barger | $240 | $205.87 | -17.6% | Jun 24, 2025 |
| Stephens | Justin Long | $205 | $187.34 | -29.6% | Oct 24, 2024 |
| Susquehanna | Bascome Majors | $220 | $191.15 | -24.5% | Oct 21, 2024 |
| KeyBanc | Steve Barger | $185 | $163.38 | -36.5% | Apr 25, 2024 |
| Stephens | Justin Long | $180 | $163.38 | -38.2% | Apr 25, 2024 |
| Jefferies | Saree Boroditsky | $150 | $126.99 | -48.5% | Jan 11, 2024 |
| Raymond James | Raymond James Raymond James | $115 | $100.19 | -60.5% | Dec 16, 2022 |
| Morgan Stanley | Analyst unavailable | $106 | $103.86 | -63.6% | Dec 14, 2022 |
| Raymond James | Felix Boeschen | $103 | $94.83 | -64.6% | Aug 18, 2022 |
| Morgan Stanley | Analyst unavailable | $87 | $93.49 | -70.1% | Aug 8, 2022 |
| Stephens | Analyst unavailable | $110 | $94.42 | -62.2% | Aug 8, 2022 |
| Morgan Stanley | Analyst unavailable | $84 | $83.45 | -71.2% | Jul 18, 2022 |
| Morgan Stanley | Analyst unavailable | $113 | $91.59 | -61.2% | May 2, 2022 |
Track every rating change on WAB the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationWestinghouse Air Brake Technologies Corporation (WAB) delivers a comprehensive suite of advanced technological solutions, equipment, and services tailored for the global freight railway and urban mass transit sectors. Its operations are bifurcated into two principal divisions: Freight and Transit. The Freight segment develops, produces, and maintains critical components for both newly manufactured and operational freight carriages and locomotives. This includes constructing brand-new commuter-focused locomotives, undertaking comprehensive rebuilding of freight locomotives, and delivering sophisticated railway electronic systems, positive train control (PTC) technology, signal design expertise, and related engineering provisions. This segment also furnishes essential heat exchange and cooling apparatus. Its clientele encompasses major publicly listed railway operators, equipment leasing firms, original equipment manufacturers (OEMs) of locomotives and freight cars, and various utility companies.…
Historical context
All WAB earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CTAS Cintas Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | -3.4% | Cintas raises FY2027 guidance as Q1 growth broadens |
| PAYX Paychex, Inc. | FY2027 Q1 · Calendar Q3 2026 | +1.5% | -8.8% | Paychex maintains FY27 outlook as PEO and AI momentum strengthen |
| FPS Forgent Power Solutions, Inc. | FY2026 Q4 · Calendar Q3 2026 | +4.3% | +9.5% | Forgent Power Solutions pairs record results with an aggressive FY27 buildout |
| CPRT Copart, Inc. | FY2026 Q4 · Calendar Q3 2026 | -8.7% | -2.6% | Copart pairs international growth with ACV investment amid higher costs |
| SUNB Sunbelt Rentals Holdings Inc | FY2027 Q1 · Calendar Q3 2026 | +19.2% | +5.9% | Sunbelt raises FY27 outlook as specialty rental demand accelerates |
| FRO Frontline Plc | FY2026 Q2 · Calendar Q3 2026 | +8.0% | +1.0% | Frontline posts a record quarter as tanker rates remain elevated |
Latest beats and misses
Who reports nextBeat on EPS
- COSTFY2026 Q4 · September 24, 2026+3.2% EPS+2.9% move
- SNXFY2026 Q3 · September 24, 2026+20.9% EPS-9.9% move
- DRIFY2027 Q1 · September 24, 20260.0% EPS-3.0% move
- CTASFY2027 Q1 · September 23, 2026+3.0% EPS-3.4% move
- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
Get the WAB recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-29T12:51:01.037592+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-29T12:51:01.034780+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-29. For educational purposes only; not investment advice.