Wabash National (NYSE:WNC) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Wabash National (NYSE:WNC) announced its quarterly earnings results on Wednesday. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.03, Zacks reports. The firm had revenue of $417.24 million during the quarter, compared to the consensus estimate of $402.85 million. Wabash National had a negative net margin of 5.48% and a negative return on equity of 36.59%. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) EPS.

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

• Backlog grew 14% sequentially to $956 million, marking the first second-quarter increase in company history. Management said customer behavior is shifting from deferred purchases toward fleet replacement demand.
• Freight-market indicators improved, with spot rates approximately 40% above prior-year levels by June, tender rejection rates above 16%, and manufacturing and logistics activity showing expansion.
• Q2 revenue was $417 million, while adjusted EPS was a loss of $0.53 and adjusted EBITDA was negative $9 million, reflecting material costs that have not yet been fully recovered through pricing. Q3 guidance calls for revenue of $440 million-$460 million and an adjusted EPS loss of $0.50-$0.40.
• Management expects sequential earnings improvement, including positive EBITDA in the second half of 2026, as higher pricing flows into the backlog. It expects material margin to improve by roughly 200-300 basis points in Q4 and cited current 2027 pricing as supportive of $150 million-$170 million of EBITDA if replacement-level demand materializes.
• Wabash secured $150 million of additional liquidity through convertible senior notes after quarter-end and is nearing completion of a refinancing that could extend its revolving credit facility to $300 million, providing working capital for a production ramp and greater financial flexibility.

Wabash National Stock Down 0.4%

Shares of WNC traded down $0.05 during midday trading on Friday, reaching $12.35. 252,189 shares of the stock were exchanged, compared to its average volume of 837,252. The company has a market capitalization of $502.44 million, a P/E ratio of -6.39 and a beta of 1.43. The company has a current ratio of 1.31, a quick ratio of 0.77 and a debt-to-equity ratio of 1.75. Wabash National has a 52 week low of $6.63 and a 52 week high of $14.32. The company’s 50 day moving average is $11.21 and its two-hundred day moving average is $10.00.

Wabash National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Thursday, July 2nd. Wabash National’s dividend payout ratio is currently -20.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WNC. Brevan Howard Capital Management LP purchased a new stake in shares of Wabash National in the 3rd quarter worth approximately $349,000. Integrated Quantitative Investments LLC bought a new position in Wabash National in the fourth quarter worth approximately $316,000. XTX Topco Ltd lifted its holdings in Wabash National by 172.1% during the fourth quarter. XTX Topco Ltd now owns 34,508 shares of the company’s stock worth $298,000 after buying an additional 21,826 shares during the period. State of Wyoming lifted its holdings in Wabash National by 29.6% during the second quarter. State of Wyoming now owns 26,064 shares of the company’s stock worth $277,000 after buying an additional 5,960 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in Wabash National during the 4th quarter valued at $254,000. 97.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citizens Jmp assumed coverage on Wabash National in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 price objective for the company. Weiss Ratings downgraded shares of Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Wall Street Zen cut shares of Wabash National from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Finally, DA Davidson reiterated a “buy” rating and set a $20.00 price target on shares of Wabash National in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.00.

Wabash National Company Profile

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.