Wabtec stockholders, as of the close of business on March 17, 2020 (the record date for the Annual Meeting), are invited to join the live virtual meeting and will have the ability to participate and vote during the Annual Meeting. The proxy card included with the proxy materials previously distributed will not be updated to reflect the virtual meeting format and may continue to be used to vote shares in connection with the 2020 Annual Meeting. Because not all companies use identical calculations, Wabtecs presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. We believe that these measures provide useful supplemental information to assess our operating performance and to evaluate period-to-period comparisons. Drawing on nearly four centuries of collective experience across Wabtec, GE Transportation and Faiveley Transport, the company has unmatched digital expertise, technological innovation, and world-class manufacturing and services, enabling the digital-rail-and-transit ecosystems. The words “believe,” “expect,” “should,” “estimates,” “intend,” “target,” “will,” “plans,” and other similar expressions identify forward-looking statements. The freight portfolio features a comprehensive line of locomotives, software applications and a broad selection of mission-critical controls systems, including Positive Train Control (PTC).
Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions.
Wabtec stockholders, as of the close of business on March 17, 2020 (the record date for the Annual Meeting), are invited to join the live virtual meeting and will have the ability to participate and vote during the Annual Meeting. The foregoing list of important factors is not exclusive.
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Based in Pittsburgh, PA, Wabtec has approximately 27,000 employees in facilities throughout the world.
Wabtec provided 2020 sales guidance to a range of $7.3 billion to $7.6 billion, ... (14) other risk factors as detailed from time to time in Wabtec’s reports filed with the SEC, including Wabtec’s annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC. With aggressive cost actions and synergies stemming from the Wabtec and …
Wabtec also provided full-year guidance for sales in a range of $7.3 billion to $7.6 billion, adjusted earnings per diluted share to between $3.50 and $3.80 and strong cash conversion of greater than 90 percent.
To listen via webcast, go to Wabtecs new website at Wabtec Corporation is a leading global provider of equipment, systems, digital solutions and value-added services for freight and transit rail. Unlike in the first quarter, Wabtec provided its annual guidance amid the COVID-19 crisis. While Wabtec believes these are useful supplemental measures for investors, they are not presented in accordance with GAAP.
Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) unexpected costs, charges or expenses resulting from the GE Transportation merger; (2) uncertainty of Wabtecs expected financial performance; (3) failure to realize the anticipated benefits of the GE Transportation merger, including as a result of integrating GE Transportation into Wabtec; (4) Wabtecs ability to implement its business strategy; (5) difficulties and delays in achieving revenue and cost synergies; (6) inability to retain and hire key personnel; (7) evolving legal, regulatory and tax regimes; (8) changes in general economic and/or industry specific conditions, including the impacts of tax and tariff programs, industry consolidation and changes in the financial condition or operating strategies of our customers; (9) changes in the expected timing of projects; (10) a decrease in freight or passenger rail traffic; (11) an increase in manufacturing costs; (12) actions by third parties, including government agencies; (13) the severity and duration of the evolving COVID-19 pandemic and the resulting impact on the global economy and, in particular, our customers, suppliers and end-markets, and (14) other risk factors as detailed from time to time in Wabtecs reports filed with the SEC, including Wabtecs annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC. Directors elected were: Rafael S antana and LeeFoster, II . The 12-month backlog was $5.3 billion at June 30, 2020. Wabtec provided 2020 sales guidance to a range of $7.3 billion to $7.6 billion, GAAP earnings per diluted share guidance to between $2.05 to $2.35 and adjusted earnings per …
Readers are cautioned not to place undue reliance on any of these forward-looking statements.