Wabtec Delivers First Quarter 2024 Results; Raises Full-Year Guidance
At March 31, 2024, multi-year backlog was $251 million lower than the prior year period and excluding foreign currency exchange, multi-year backlog decreased $310 million, down 1.4%.
- At March 31, 2024, multi-year backlog was $251 million lower than the prior year period and excluding foreign currency exchange, multi-year backlog decreased $310 million, down 1.4%.
- At the end of the quarter, the Company had cash, cash equivalents and restricted cash of $639 million and total debt of $4.00 billion.
- During the quarter, the Company repurchased $175 million of Wabtec shares and paid $36 million in dividends.
- For full year 2024, Wabtec expects operating cash flow conversion of greater than 90 percent.