How did WAB's Freight Segment drive revenue growth in Q3 2024?

Westinghouse Air Brake Technologies Corporation (WAB) experienced notable revenue growth in Q3 2024, primarily driven by the robust performance of its Freight Segment.

1. **Freight Segment Performance**:
- The Freight Segment saw a significant year-over-year increase of 13.1% in sales, reaching $1.92 billion.
- This growth was fueled by strong demand for WAB's technology-based locomotives, equipment, and services, reflecting the company's focus on innovative solutions for the freight rail industry.
2. **Overall Company Performance**:
- WAB reported a 9.8% year-over-year increase in total sales, reaching $2.644 billion, slightly exceeding market expectations.
- The adjusted gross margin expanded by 290 basis points to 33.3%, indicating improved operational efficiency and profitability.
3. **Market Position and Growth Prospects**:
- WAB's consistent innovation and efficient business strategies have bolstered its market position, leading to strong growth across both the Freight and Transit segments.
- The company's positive financial performance and growth prospects are supported by analyst optimism, with a "Moderate Buy" rating and an average 12-month price target of $177.83, suggesting confidence in WAB's future performance.
4. **Financial Metrics and Guidance**:
- WAB raised its full-year EPS guidance to $7.20-$7.50, reflecting confidence in its continued earnings growth.
- Operating cash flow was robust at $235 million, up from $115 million in the previous year, supporting the company's investment in growth opportunities.

In conclusion, WAB's Freight Segment was instrumental in driving revenue growth in Q3 2024, with strong sales performance and contribution to the company's overall financial success.