WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP Earnings Per Share Disclosure
| For the year ended December 31, | ||||||||||||||||||||
| In millions, except per share data | 2025 | 2024 | 2023 | |||||||||||||||||
| Numerator | ||||||||||||||||||||
| Net income attributable to Wabtec shareholders | $ | 1,170 | $ | 1,056 | $ | 815 | ||||||||||||||
| Less: Net income allocated to non-vested restricted stock | (3) | (3) | (2) | |||||||||||||||||
| Numerator for basic and diluted earnings per common share | $ | 1,167 | $ | 1,053 | $ | 813 | ||||||||||||||
| Denominator | ||||||||||||||||||||
| Weighted average shares outstanding - basic | 170.5 | 174.1 | 178.8 | |||||||||||||||||
| Effect of dilutive securities: | ||||||||||||||||||||
| Assumed conversion of dilutive stock-based compensation plans excluding non-vested restricted stock | 0.4 | 0.3 | 0.4 | |||||||||||||||||
| Assumed conversion of dilutive non-vested restricted stock | 0.2 | 0.4 | 0.3 | |||||||||||||||||
| Weighted average shares outstanding - diluted | 171.1 | 174.8 | 179.5 | |||||||||||||||||
| Earnings per common share attributable to Wabtec shareholders | ||||||||||||||||||||
| Basic | $ | 6.84 | $ | 6.05 | $ | 4.54 | ||||||||||||||
| Diluted | $ | 6.83 | $ | 6.04 | $ | 4.53 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 13, 2026 | Showing above |
| 2024 | Feb 12, 2025 | |
| 2023 | Feb 14, 2024 | |
| 2022 | Feb 15, 2023 | |
| 2021 | Feb 17, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 24, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 26, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 19, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.