Wabash National (NYSE:WNC) Posts Earnings Results, Misses Estimates By $0.16 EPS

Key Points

• Q1 miss: Wabash reported an adjusted non‑GAAP net loss of $47.5M (‑$1.17/share), missing estimates by $0.16, with revenue of $303.2M down 20.4% year‑over‑year and adjusted EBITDA of ‑$38M.
• Recovery path: Backlog improved 19% sequentially to $837M, management called Q1 the low point and guided Q2 revenue of $380–$400M, citing new upfit sites, digital/AI investments and U.S. manufacturing capacity to drive sequential improvement and share gains.
• Cash and market position: Operating cash flow was ‑$33.7M with total liquidity of $165M; shares fell to $7.66 (market cap ≈$312M), the company pays a $0.08 quarterly dividend (≈4.2% yield), and analyst sentiment averages a "Reduce" rating with a $10 consensus target.

Wabash National (NYSE:WNC - Get Free Report) posted its quarterly earnings results on Friday. The company reported ($1.17) earnings per share for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.16), Briefing.com reports. Wabash National had a negative return on equity of 22.79% and a net margin of 13.71%.The company had revenue of $303.23 million for the quarter, compared to analyst estimates of $319.03 million. During the same period last year, the company earned ($0.58) earnings per share. The business's revenue for the quarter was down 20.4% compared to the same quarter last year.

Here are the key takeaways from Wabash National's conference call:

• Q1 consolidated revenue was $303 million with adjusted non‑GAAP net loss of $47.5 million (‑$1.17/share) and adjusted EBITDA of ‑$38 million, driven by lower volumes and production inefficiencies.
• Backlog improved 19% sequentially to $837 million, management says Q1 was the low point and guides Q2 revenue of $380–$400 million with sequential improvement expected each quarter.
• Operating cash flow was ‑$33.7 million (free cash flow ‑$37.3 million) with total liquidity of $165 million; management is conserving cash and plans to address the ABL facility before September 2026.
• Strategic investments in digital/AI, Parts & Services and new upfit sites (Chicago, Atlanta, Phoenix) target more recurring revenue and lower cyclicality, with each new upfit site expected to add $10–$20 million at ~20% gross margin at peak.
• Trade developments (Section 232 and pending AD/CVD rulings) plus U.S. manufacturing scale — including Lafayette South capacity able to produce ~10,000 incremental trailers — position Wabash to improve pricing stability and gain share into 2027.

Wabash National Price Performance

Shares of Wabash National stock traded down $1.03 on Friday, hitting $7.66. The company's stock had a trading volume of 2,249,558 shares, compared to its average volume of 637,580. The company has a market capitalization of $311.69 million, a P/E ratio of 1.57 and a beta of 1.67. The company has a quick ratio of 0.79, a current ratio of 1.39 and a debt-to-equity ratio of 1.20. The firm has a fifty day moving average price of $9.05 and a 200-day moving average price of $9.26. Wabash National has a 52-week low of $7.10 and a 52-week high of $12.94.

Wabash National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd were given a $0.08 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $0.32 annualized dividend and a dividend yield of 4.2%. Wabash National's payout ratio is currently 6.57%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Wabash National by 2.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,821,212 shares of the company's stock valued at $17,975,000 after purchasing an additional 36,226 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Wabash National by 17.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,548,493 shares of the company's stock valued at $13,394,000 after purchasing an additional 233,979 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Wabash National by 4.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,445,635 shares of the company's stock valued at $15,367,000 after purchasing an additional 59,054 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Wabash National by 161.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company's stock valued at $9,585,000 after purchasing an additional 684,397 shares in the last quarter. Finally, Towle & Co. lifted its holdings in Wabash National by 23.4% in the 4th quarter. Towle & Co. now owns 978,330 shares of the company's stock valued at $8,463,000 after purchasing an additional 185,517 shares in the last quarter. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WNC. DA Davidson reaffirmed a "neutral" rating and set a $11.00 price target on shares of Wabash National in a research note on Thursday, February 19th. Zacks Research raised shares of Wabash National from a "strong sell" rating to a "hold" rating in a research note on Monday, January 5th. Weiss Ratings cut shares of Wabash National from a "hold (c-)" rating to a "sell (d)" rating in a research note on Tuesday, February 24th. Finally, Wall Street Zen lowered shares of Wabash National from a "hold" rating to a "strong sell" rating in a research report on Saturday, February 21st. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $10.00.

About Wabash National

Wabash National Corporation NYSE: WNC is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company's product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.

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