WAB — what changed in the latest 10-Q
A section-by-section comparison of WAB's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-21 vs the prior 10-Q · 2026-07-22
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +9 | −11 | ~41 | 55 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +1 | −2 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3)
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-21
Total multi-year backlog increased $4.0 billion during the first nine months of 2026 to a record $31.4 billion at September 30, 2026. Significant Freight orders during the first nine months of 2026 included international orders spanning new locomotives, components, digital solutions, and multi-year …
Other income (expense), net increased $13 million for the three months ended September 30, 2026 compared to the same period in 2025, primarily due to foreign exchange gains in the current period.
The effective income tax rate of 26.3% for the three months ended September 30, 2026 was mostly flat compared to 26.4% for the three months ended September 30, 2025.
Freight Segment organic sales increased by $102 million, or 4.9%, driven primarily by Services sales from higher deliveries of locomotive modernizations and higher core services sales, Components sales from strong industrial, maintenance of way, and international demand, partially offset by lower No…
Freight Segment Operating expenses increased by $10 million, and Operating expenses as a percentage of Net sales decreased 0.5 percentage points. Freight Segment SG&A expenses decreased $3 million for the three months ended September 30, 2026. The decrease is primarily due to lower employee compensa…
Text removed vs the prior filing · source: 10-Q · 2026-07-22
Total multi-year backlog increased $3.5 billion during the first six months of 2026 to a record $30.9 billion at June 30, 2026. Significant Freight orders included a multi-year, multi-billion-dollar mining contract for drive systems and aftermarket parts, a $1.0 billion Australian order spanning acr…
Other (expense) income, net decreased $26 million for the three months ended June 30, 2026 compared to the same period in 2025, primarily due to the nonrecurrence of a $32 million net gain on mark-to-market derivatives in the prior period associated with the acquisitions of Dellner Couplers and Frau…
The effective income tax rate was 23.4% and 24.8% for the three months ended June 30, 2026 and 2025, respectively. The year over year decrease in the effective rate was primarily driven by prior period audit settlements.
Freight Segment organic sales increased by $158 million, or 8.2%, driven primarily by Equipment sales from higher North American and international locomotive deliveries and higher mining sales, partially offset by decreased Services sales from lower deliveries of locomotive modernizations. Acquisiti…
Freight Segment Operating expenses increased by $68 million, and Operating expenses as a percentage of Net sales increased 0.9 percentage points. The increase in Freight Segment Operating expenses is primarily driven by incremental expense from acquisitions and higher employee compensation and benef…
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-21
None of Wabtec's Directors or Officers have adopted, terminated, or materially modified any trading plans, whether or not the plan was intended to qualify for the affirmative defense under Rule 10b5-1, during the third quarter ended September 30, 2026.
Text removed vs the prior filing · source: 10-Q · 2026-07-22
On May 18, 2026, Rafael Santana, Wabtec's Chairman and Chief Executive Officer, entered into a stock trading plan (the "Plan") designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. Under the terms of the plan, up to 13,053 shares jointly owned by Mr. Santana a…
Other than with respect to Mr. Santana's Plan, none of Wabtec's Directors or Officers have adopted, terminated, or materially modified any trading plans, whether or not the plan was intended to qualify for the affirmative defense under Rule 10b5-1, during the second quarter ended June 30, 2026.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice