Filing Flows › Westinghouse Air Brake Technologies (WAB) › Q2 2026 › vs Q2 2025
Westinghouse Air Brake Technologies (WAB) Q2 2026 vs Q2 2025 (year over year)
Westinghouse Air Brake Technologies's revenue rose $473M (+17%) from $2.7B in Q2 2025 to $3.2B in Q2 2026. The biggest changes: Goods +$444M (+20%); Services +$29.0M (+6%). Gross margin 36.5% against 34.7% (+1.9 pts).
Westinghouse Air Brake Technologies, Q2 2026: revenue $3.2B (+18% year over year), operating margin 18.9%, net earnings $395M, operating cash flow $441M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 36.5% | 34.7% | +1.9 pts |
| Operating margin | 18.9% | 17.4% | +1.4 pts |
| Net margin | 12.4% | 12.4% | +0.0 pts |
| Free cash flow margin | 11.9% | 6.3% | +5.6 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Goods | $2.7B | $2.2B | $444M | +20% |
| Services | $509M | $480M | $29.0M | +6% |
| Revenue | $3.2B | $2.7B | $473M | +17% |
| Gross profit | $1.2B | $938M | $223M | +24% |
| Cost of revenue | $2.0B | $1.8B | $250M | +14% |
| Operating profit | $600M | $472M | $128M | +27% |
| Operating expenses | $561M | $466M | $95.0M | +20% |
| Pre-tax earnings | $518M | $450M | $68.0M | +15% |
| Other expense, net | $82.0M | $22.0M | $60.0M | +273% |
| Research & development | $70.0M | $50.0M | $20.0M | +40% |
| SG&A | $400M | $347M | $53.0M | +15% |
| Other operating costs | $91.0M | $69.0M | $22.0M | +32% |
| Net earnings | $395M | $336M | $59.0M | +18% |
| Minority interests | $1.0M | $3.0M | −$2.0M | -67% |
| Income tax | $122M | $111M | $11.0M | +10% |
| Depreciation & amortization | $143M | $117M | $26.0M | +22% |
| Share-based compensation | $28.0M | $19.0M | $9.0M | +47% |
| Working capital & other | $125M | $263M | −$138M | -52% |
| Operating cash flow | $441M | $209M | $232M | +111% |
| Free cash flow (OCF − capex) | $379M | $170M | $209M | +123% |
| Capital expenditures | $62.0M | $39.0M | $23.0M | +59% |
Questions
How much did Westinghouse Air Brake Technologies's revenue grow year over year in Q2 2026?
Westinghouse Air Brake Technologies's revenue rose $473M (+17%) from $2.7B in Q2 2025 to $3.2B in Q2 2026.
What drove Westinghouse Air Brake Technologies's revenue change in Q2 2026?
Goods +$444M (+20%); Services +$29.0M (+6%).