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Westinghouse Air Brake Technologies 8-K Report, Regulation FD Disclosure (Jul 1, 2025)

Reports
Regulation FD·Other Events·Exhibits & Filings
Filing Date
Filed July 1, 2025
Period End
July 1, 2025
Security
WAB
In the record · 2016–202610-K1110-Q338-K132

WAB filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 132 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Feb ’20Feb ’20
  3. Leadership change8-K · Apr ’22Apr ’22
  4. Material agreement8-K · Mar ’24Mar ’24

01—Abstract

Summary

Summary of the 8-K filed July 1, 2025. Cited figures are marked; the original filing is the authoritative source.

Westinghouse Air Brake Technologies Corporation (WAB) filed this Form 8-K to report that it completed its acquisition of Evident Inspection Technologies, a business line of Evident Corporation and a global leader in Non-Destructive Testing, Remote Visual Inspection and Analytical Instruments solutions for mission critical assets.

The acquisition was previously announced on January 14, 2025, under a definitive agreement dated January 13, 2025. The company issued a press release on July 1, 2025, furnished as Exhibit 99.1, which is not deemed filed under Section 18 of the Exchange Act. According to the press release, Wabtec acquired the Inspection Technologies division for $1.78 billiona (approximately $1.68 billion after tax benefits).

The deal was financed through a combination of cash on hand, newly issued term notes, term loans, and short-term borrowing under the Company's credit agreement. The purchase price reflects an estimated 12.0x projected 2025 EBITDA adjusted for transaction and separation costs, anticipated tax benefits, and projected run-rate cost synergies of $25 millionb. Management expects high single-digit revenue growth, accretive Adjusted EBIT margins and accretive return on invested capital over time, and a slightly accretive effect on Adjusted EPS in the second half of 2025.

Management states the acquisition strengthens the Digital Intelligence business and effectively doubles its total addressable market from approximately $8 billion to $16 billionc. The company intends to incorporate the revenue and EPS impact into its full-year financial guidance during its Q2 earnings call.

02—Key points

Key Highlights

  1. Completed the acquisition of Evident's Inspection Technologies division, announced January 14, 2025 (definitive agreement dated January 13, 2025).
  2. Purchase price of $1.78 billion (approximately $1.68 billion after tax benefits).
  3. Purchase price reflects an estimated 12.0x projected 2025 EBITDA, adjusted for transaction and separation costs, anticipated tax benefits, and $25 million of projected run-rate cost synergies.
  4. Financed with cash on hand, newly issued term notes, term loans, and short-term borrowing under the Company's credit agreement.
  5. Management expects high single-digit revenue growth, accretive Adjusted EBIT margins and accretive ROIC over time, and slightly accretive Adjusted EPS in the second half of 2025.
  6. Digital Intelligence total addressable market expected to effectively double from approximately $8 billion to $16 billion.
  7. Company intends to incorporate the acquisition's revenue and EPS impact into full-year financial guidance during its Q2 earnings call.

03—Questions

Frequently Asked Questions

  1. What did Wabtec acquire and what is the purchase price?

    Wabtec acquired Evident's Inspection Technologies division, a global leader in Non-Destructive Testing, Remote Visual Inspection and Analytical Instruments solutions, for $1.78 billion, or approximately $1.68 billion after tax benefits.

  2. How was the acquisition financed?

    The transaction was financed through a combination of cash on hand, newly issued term notes, term loans, and short-term borrowing under the Company's credit agreement.

  3. What financial benefits does management expect from the deal?

    Management expects high single-digit revenue growth, accretive Adjusted EBIT margins and accretive return on invested capital over time, and a slightly accretive effect on Adjusted EPS in the second half of 2025.

  4. How does the acquisition affect Wabtec's Digital Intelligence business?

    Management states the acquisition expands the Digital Intelligence business and effectively doubles its total addressable market from approximately $8 billion to $16 billion, adding advanced automated inspection capabilities and recurring revenue opportunities.

  5. When will investors see the acquisition reflected in guidance?

    The Company intends to incorporate the revenue and EPS impact of the acquisition into its full-year financial guidance during its Q2 earnings call.

04—Continue

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