Westinghouse Air Brake Technologies (WAB) 10-K Summary — Year Ended Dec 31, 2023

Westinghouse Air Brake Technologies Corporation filed its annual report for the most recent fiscal year. The filing indicates growth in revenue and profitability, with strong cash generation from operations.

Key takeaway

Year ended Dec 31, 2023 · FY2025 10-K

Financial snapshot

Selected annual figures reported with the filing, shown separately from the narrative summary.

Annual revenue

$9.7B

Revenue reported for the fiscal year.

Operating income

$1.3B

Income from operations reported for the year.

Net income

$815M

Net income reported for the year.

Operating cash flow

$1.2B

Cash generated by operating activities.

Annual revenue trend

Reported annual revenue and its change from the preceding fiscal year.

Period ended	Revenue	Year-over-year change
Dec 31, 2021	$7.8B	n/a
Dec 31, 2022	$8.4B	+6.9%
Dec 31, 2023	$9.7B	+15.7%

Business overview

The filing's Business overview section does not provide a substantive description of the company's operations. The company is identified as a technology corporation, but no further details are available in the supplied sections.

Financial performance

Revenue increased over the prior two years, with the most recent year showing a larger rise. Operating income and net income also grew, and cash flow from operations improved compared to the previous year.

Material risks

The Risk Factors section is referenced in the filing but no specific risk descriptions are included in the supplied data. Therefore, no material risks can be identified from this context.

Liquidity and capital

Liquidity is managed through operating cash flows, borrowings under senior notes and an unsecured credit facility, as well as a receivables program and supply chain financing. Cash provided by operations increased in the reported year.

What to watch

The notable increase in cash used for investing activities in the reported year warrants attention in the next filing.