Filing Flows › Westinghouse Air Brake Technologies (WAB) › Q3 2025
Westinghouse Air Brake Technologies (WAB) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 22, 2025
Westinghouse Air Brake Technologies (WAB) reported revenue of $2.9B for the third quarter 2025 (Q3 2025), +8% from a year earlier and +7% from the quarter before. Operating margin was 17.0%, net earnings $310M (10.7% of revenue).
Westinghouse Air Brake Technologies, Q3 2025: revenue $2.9B (+8% year over year), operating margin 17.0%, net earnings $310M, operating cash flow $367M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +7% | +8% |
| Gross profit | $1.0B | +7% | +14% |
| Operating profit | $491M | +4% | +13% |
| Net earnings | $310M | -8% | +10% |
| Operating cash flow | $367M | +76% | -32% |
| Free cash flow | $312M | +84% | -37% |
What changed
Revenue was $2.9B in Q3 2025, up 8% year over year and up 7% from the previous quarter. Goods was the largest line at 84% of revenue. Goods added $0.25B year over year (up 12%), 114% of the total change. Services declined 6%.
Gross margin was 34.7%, up 1.7 points from a year earlier. Operating profit was $0.49B, a 17.0% margin (up 0.8 points year over year). Of the extra revenue versus a year earlier, 26% reached operating profit, above the 16% margin then. Operating expenses grew 14% against revenue growth of 8%. The fastest-growing cost line was Research & development (+18%). Net earnings were $0.31B, up 10% year over year. The effective tax rate was 26.4%.
Operating cash flow was $0.37B (down 32% year over year), 117% of net earnings. Non-cash charges added back $0.13B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.10B. Capital expenditures of $0.06B left free cash flow of $0.31B.
Questions
What was Westinghouse Air Brake Technologies' revenue in the third quarter 2025?
Westinghouse Air Brake Technologies (WAB) reported revenue of $2.9B for the third quarter 2025 (Q3 2025), +8% from a year earlier and +7% from the quarter before.
Was Westinghouse Air Brake Technologies profitable in the third quarter 2025?
Operating profit was $491M (17.0% of revenue) and net earnings $310M.
Source: Westinghouse Air Brake Technologies 10-Q on SEC EDGAR.