Westinghouse Air Brake Technologies Corporation has released its summarized financial information for the Parent Company and Guarantor Subsidiaries for the first quarter of 2025, revealing significant changes compared to the full year of 2024.
In the first quarter of 2025, net sales amounted to $1,532 million, a notable decrease from the $5,949 million reported for the full year of 2024. This decline in net sales is also reflected in the gross profit, which stood at $661 million for the first quarter of 2025, down from $1,796 million for the full year of 2024.
The net income (loss) attributable to Wabtec shareholders for the first quarter of 2025 was $33 million, a stark contrast to the $(104) million reported for the full year of 2024.
Looking at the balance sheet, there have been fluctuations in the current and noncurrent assets and liabilities. Current assets totaled $1,448 million as of March 31, 2025, compared to $1,624 million at the end of December 31, 2024. Similarly, noncurrent assets amounted to $3,504 million in the first quarter of 2025, slightly higher than the $3,500 million reported for the full year of 2024. On the liability side, current liabilities were $2,352 million at the end of the first quarter of 2025, up from $2,278 million at the end of December 31, 2024. Long-term debt remained relatively stable at $2,963 million in the first quarter of 2025, compared to $2,962 million at the end of December 31, 2024. Other non-current liabilities decreased to $681 million as of March 31, 2025, from $738 million at the end of December 31, 2024.
The transactions with non-guarantor subsidiaries also saw changes. Net sales to Non-Guarantor Subsidiaries amounted to $243 million for the first quarter of 2025, a significant drop from the $875 million for the full year of 2024. Similarly, purchases from Non-Guarantor Subsidiaries decreased to $267 million in the first quarter of 2025, down from $1,170 million for the full year of 2024.
In terms of amounts due to Non-Guarantor Subsidiaries, the figure was $7,655 million as of March 31, 2025, compared to $7,872 million at the end of December 31, 2024.
These financial metrics indicate a mixed performance for Westinghouse Air Brake Technologies Corporation and its Guarantor Subsidiaries, with fluctuations in sales, profits, and liabilities compared to the previous reporting period. The market has reacted to these announcements by moving the company's shares 0.71% to a price of $205.69. For more information, read the company's full 8-K submission here.
