What caused WAB's EPS decline in Q3 and Q4 2024?

The decline in Westinghouse Air Brake Technologies' (WAB) EPS from $1.63 in Q3 to $1.23 in Q4 2024 can be attributed to several factors: 1. **Insider Trading Activity**: The sale of shares by Rafael Santana, the President and CEO, could signal a lack of confidence in the company's short-term performance. Santana sold shares totaling $163,968 in April 2025, with the stock trading at prices between $182.51 and $186.08. This sale, coupled with the decline in EPS, might suggest that Santana believes the stock is overvalued or that the EPS decline is indicative of challenges ahead. 2. **Earnings Miss in Q4**: WAB missed earnings per share estimates by $0.06 in Q4, with the reported EPS of $1.68 compared to the estimated $1.74. This miss, combined with the revenue falling short of estimates, indicates that the company faced challenges in generating the expected level of profitability in the quarter. In summary, the decline in WAB's EPS from Q3 to Q4 2024 is likely a result of a combination of insider trading activity and earnings miss.