Wabtec (WAB) is trading higher as the market continues to digest the company’s recently completed acquisition of Dellner Couplers and the earnings framework that accompanied its 2026 outlook. The deal expands Wabtec’s exposure to passenger-rail aftermarket and service revenue through a sizable global installed base, supporting the view of more durable, higher-quality earnings.

Wabtec said it completed the Dellner Couplers acquisition on February 11, 2026, bringing in a Sweden-based supplier of safety-critical train connection systems and services with an installed base of about 100,000 couplers and 12,500 gangways. Alongside that broader portfolio shift toward recurring service content, Wabtec’s 2026 guidance calls for revenue of $12.19 billion to $12.49 billion and adjusted EPS of $10.05 to $10.45, reinforcing a “double-digit EPS” narrative that can attract incremental buyers on up days.

With WAB near record levels, today’s upside reads as conviction-building rather than a single headline spike: investors are rewarding visibility (installed base and service mix) and the company’s ability to integrate acquisitions while holding margins. The next swing factors are (1) early evidence of Dellner integration progress and cross-selling into transit customers, (2) order momentum in freight and transit markets, and (3) capital allocation—especially the pace of buybacks versus debt reduction as the company absorbs the acquisition.