Pittsburgh, PA, February 18, 2020 – Wabtec Corporation (NYSE: WAB) announced that its Board of Directors authorized a share buyback program up to $500 million.
The company intends to buy back shares from time to time on the open market or in negotiated or block trades. There is no time limit set for the completion of the program, which is permitted under the company’s credit agreement and bond indenture. This buyback authorization supersedes any previous authorization.
Rafael Santana, Wabtec’s president and CEO, said: “Today’s announcement underscores our long-term confidence to generate strong cash flows. Our strong financial position allows for ample…
• Delivered Full-Year Operating Cash Flow of Over $1.0 Billion
• Fourth Quarter Reported GAAP Earnings Per Share of $0.71; Adjusted EPS of $1.04. Full-Year GAAP Earnings Per Share of $1.84; Adjusted EPS of $4.17
• Fourth Quarter Reported GAAP and Adjusted Sales of $2.4 Billion; Full-Year GAAP sales of $8.2 billion; Full-Year Adjusted Sales of $8.3 Billion
• Margin Expansion and Strong Cash Flow Expected in 2020 Following Successful Year of Integration…