Westinghouse Air Brake Technologies Corp (NYSE:WAB) shares hit a new all-time high of $210.91, pushing the company’s market capitalization to $35.82 billion. This milestone marks a strong one-year return of 35.29%, reflecting solid performance and growing investor confidence. While the current price-to-earnings ratio stands at 32.88, indicating a premium valuation, WAB’s stock momentum highlights optimism about its position in the transportation solutions sector and its future growth prospects.
In other news, Wabtec Corporation finalized the acquisition of Evident’s Inspection Technologies division for $1.78 billion. This deal is set to boost Wabtec’s digital intelligence capabilities within the rail and industrial markets, with expectations of high single-digit revenue growth and a modest earnings per share increase by the latter half of 2025. The purchase price equates to about 12 times the projected EBITDA for 2025, after adjustments for transaction expenses, tax benefits, and anticipated cost synergies. Additionally, Wabtec priced a $1.25 billion senior notes offering to help finance the acquisition and repay debt. The company also expanded its subsidiary guarantors list by including Wabtec US Rail, Inc., which will back several of its outstanding senior notes. Finally, Wabtec declared a regular quarterly dividend of 25 cents per share, payable on June 10, 2025. These strategic moves underscore Wabtec’s efforts to strengthen its financial footing and enhance shareholder returns.