Oliver Jiang's questions to WESTINGHOUSE AIR BRAKE TECHNOLOGIES (WAB) leadership • Q2 2025
Question
Oliver Jiang, on behalf of Angel Castillo at Morgan Stanley, asked for details on international demand for freight and transit, the impact of geopolitics on the multi-year backlog, and the company's near-term capital allocation strategy.
Answer
CEO Rafael Santana described the current opportunity pipeline as the strongest since the GE merger, with significant activity in both international and domestic markets providing solid coverage into 2025. CFO John Olin added that while the capital allocation strategy remains focused on M&A, the near-term priority is to reduce the net debt leverage ratio in anticipation of funding upcoming acquisitions.