WABWabtec
Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, is a Delaware corporation with headquarters at 30 Isabella Street in Pittsburgh, Pennsylvania. 10-K, Item 1
- Employees
- 31,000
- Headquarters
- Pittsburgh, PA
- CEO
- Rafael Santana
- Next results
- around Feb 10, 2027
What the 10-K filed 2026-02-13 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-12.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
“No one customer accounted for more than 10% of the Company’s consolidated net sales in the periods presented.”
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Key suppliers
Parts or manufacturing that depend on one or a few suppliers.
“Failure to take adequate steps to mitigate the likelihood or potential impact of disruptions, or to effectively manage such events if they occur, particularly when a product is sourced from a single supplier or location, could adversely affect our business or financial results.”
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“In addition, we rely upon third-party suppliers, including certain single-sourced suppliers, for various components for our products.”
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Lawsuits and legal claims
3 newPending cases, settlements and what the company has set aside for them.
New “On June 12, 2025, in response to a motion filed by Wabtec, the Court dismissed the antitrust claims against Wabtec saying that no harmful effects on competition resulting from the merger had been shown.”
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New “Progress Rail subsequently filed an amended Complaint seeking to revive its antitrust claims.”
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New “Wabtec filed another motion to dismiss the antitrust claims, which is still pending before the Court.”
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Guarantees and indemnities
Promises to pay someone else's debts or losses if they cannot.
“At December 31, 2025, the total value of these bank guarantees and letters of credit were $1,141 million and expire on various dates through 2035.”
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Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
“The agreement contains affirmative, negative and financial covenants, and events of default customary for facilities of this type.”
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“The Company was in compliance with all financial covenants in the 2025 Credit Agreement and the 2025 Term Credit Agreement as of December 31, 2025.”
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“The Company is in compliance with the restrictions and covenants in the indentures under which the Senior Notes were issued and expects that these restrictions and covenants will not be any type of limiting factor in executing our operating activities.”
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Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
“Purchase obligations (1) $ 158 $ 150 $ 8 $ — $ —”
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Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on WAB in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/WAB/export.csv") into a cell.