Westinghouse Air Brake Technologies (WAB) Q1 FY2026 earnings: revenue $3.0 billion, up 13.0% on the year
Westinghouse Air Brake Technologies Corp. (WAB) reported revenue of $3.0 billion for Q1 FY2026, the quarter ended 31 March 2026, up 13.0% on the same quarter a year earlier. Net income was $362 million, up 12.4% on the year, and diluted earnings per share $2.12. The figures are the company's own, from the 10-Q it filed with the SEC on 22 April 2026.
Revenue
$3.0 billion
+13.0% on the year · -0.5% on the quarter
Q2 FY2024Q1 FY2026
Operating margin
17.5%
18.2% a year earlier
Q2 FY2024Q1 FY2026
Net income
$362 million
+12.4% on the year · +79.2% on the quarter
Q2 FY2024Q1 FY2026
Diluted EPS
$2.12
+12.8% on the year · +79.7% on the quarter
Q2 FY2024Q1 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 1 raised, 1 kept.
Sales up 13% on acquisitions and currency: Sales were $2.95 billion, up 13.0%. Acquisitions added $225 million and currency $68 million; organic growth added $60 million, so most of the increase came from acquisitions and currency.
Adjusted EPS rose 18.9%: GAAP diluted EPS was $2.12, up 12.8%; adjusted diluted EPS was $2.71, up 18.9%. Management attributed the gain mainly to higher sales, plus currency and tax-timing benefits.
GAAP operating margin fell, adjusted rose: GAAP operating margin was 17.5% against 18.2%, while adjusted operating margin was 21.9% against 21.7%. Both margins benefited from sales growth.
$ million except per share. Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q1 FY2026
Q4 FY2025
Q1 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
199
992
191
-79.9%
+4.2%
Capital expenditure
46.0
122
44.0
-62.3%
+4.5%
Free cash flow
153
870
147
-82.4%
+4.1%
Free cash flow margin
5.2%
29.3%
5.6%
Cash from investing
-1,105
-860
-44.0
Cash from financing
656
124
-172
+429.0%
Depreciation and amortisation
139
136
120
+2.2%
+15.8%
Share-based compensation
22.0
22.0
17.0
0.0%
+29.4%
Buybacks
242
75.0
98.0
+222.7%
+146.9%
Dividends paid
53.0
43.0
43.0
+23.3%
+23.3%
Dividend per share
$0.31
n/a
$0.25
+24.0%
Diluted shares, weighted
171m
171m
171m
-0.2%
-0.4%
Shares outstanding at period end
170m
171m
171m
-0.4%
-0.7%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q1 FY2026
Q4 FY2025
Q1 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
11,103
11,142
10,368
-0.4%
+7.1%
Non-controlling interest
48.0
48.0
46.0
0.0%
+4.3%
Debt
6,538
5,541
4,007
+18.0%
+63.2%
Other liabilities
5,507
5,338
4,675
+3.2%
+17.8%
Total liabilities and equity
23,196
22,069
19,096
+5.1%
+21.5%
Fixed assets
1,653
1,616
1,462
+2.3%
+13.1%
Goodwill
10,625
10,216
8,787
+4.0%
+20.9%
Intangible assets
4,239
3,838
2,892
+10.4%
+46.6%
Cash and equivalents
531
789
698
-32.7%
-23.9%
Receivables
1,784
1,410
1,392
+26.5%
+28.2%
Inventory
2,850
2,745
2,378
+3.8%
+19.8%
Other assets
1,514
1,455
1,487
+4.1%
+1.8%
Total assets
23,196
22,069
19,096
+5.1%
+21.5%
Questions
What was Westinghouse Air Brake Technologies' revenue in Q1 FY2026?
Westinghouse Air Brake Technologies (WAB) reported revenue of $3.0 billion for Q1 FY2026, the quarter ended 31 March 2026, up 13.0% on the same quarter a year earlier.
How much did Westinghouse Air Brake Technologies earn in Q1 FY2026?
Net income for Q1 FY2026 was $362 million, up 12.4% on the year, and diluted earnings per share $2.12.
When did Westinghouse Air Brake Technologies report Q1 FY2026 results?
Westinghouse Air Brake Technologies filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 22 April 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 31 March 2026, filed 22 April 2026: the filing.