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Wabash National Corp. reports developments in transportation, logistics and infrastructure supply-chain equipment, including dry and refrigerated trailers and truck bodies, platform trailers, tank trailers, structural composites, parts and service programs, and fleet support offerings. Recurring news includes earnings, backlog and demand commentary for freight equipment markets, as well as updates from the company’s Parts & Services activities and truck body operations.
Company announcements also cover product and technology initiatives such as the DuraPlate dry van platform, digitally connected cargo assurance tools, TrailerHawk.AI, Ready-to-Mount truck bodies, upfit services, Trailers as a Service, and AI-driven configuration and aftermarket parts tools. Capital-return items, including quarterly dividends, also appear among Wabash’s recurring corporate updates.
Wabash (NYSE: WNC) has announced a strategic 10-year agreement with Ryerson, a leading industrial metals distributor. This partnership will see Ryerson supply Wabash with steel, stainless steel, and aluminum products for their range of trailers, including DuraPlate® and Acutherm™. Wabash's VP of Global Procurement highlighted that this agreement aligns with their production needs and enhances supply chain efficiency. Ryerson has been a reliable supplier for over a decade. This marks Wabash's second substantial supply agreement in 18 months, reflecting their strategy to strengthen supplier relationships and optimize production capabilities.
Wabash (NYSE: WNC) has entered a multi-year supply agreement with J.B. Hunt Transport Inc., enhancing its supply chain strategy. This partnership marks Wabash's intent to build a demand backlog that strategically looks beyond a year, ensuring stability in supply amid changing market conditions. The agreement includes the provision of over 15,000 trailers to J.B. Hunt, which will help optimize their logistics operations. This is complemented by a 10-year aluminum supply agreement, facilitating Wabash’s capacity expansion in 2023.
Wabash (NYSE: WNC) will host a webcast for its quarterly earnings conference call on February 2, 2023, at 11:00 a.m. ET, to discuss the financial results for Q4 and the full year of 2022. A presentation will accompany the call, available on Wabash's website. Participants can join the call by dialing (888) 440-6928 with conference ID 6579482. The earnings release and related materials will be posted on the 'Investors' section of the website by 7:00 a.m. ET on the same day.
Loadsmith, a leading Capacity-as-a-Service (CaaS) logistics platform, has partnered with Wabash (NYSE: WNC) to enhance its service offerings through Wabash's Trailers as a Service (TaaS) program. This multi-year agreement will introduce Loadsmith-branded DuraPlate® dry van trailers, providing carriers and shippers with needed capacity to improve operational efficiency. The collaboration aims to support smaller carriers in accessing extensive freight networks without significant capital investments, while Loadsmith's integrated technology platform facilitates real-time trailer booking and tracking.
Wabash (NYSE: WNC) has appointed Sudhanshu Priyadarshi to its Board of Directors, enhancing its leadership team. Priyadarshi brings extensive global finance and operations experience from various industries, including tech and logistics. He has previously served as CFO at Keurig Dr Pepper and has held significant positions at Walmart and PepsiCo. His role on the Audit and Compensation Committees will strengthen the board's independent oversight. This appointment marks a strategic move for Wabash as it continues its transformation in the transportation and logistics sector.
Wabash (NYSE: WNC) announced a quarterly dividend of $0.08 per share, payable on January 26, 2023, to stockholders of record by January 5, 2023. The company is recognized for its innovation in connected solutions for transportation and logistics industries, including a variety of trailer and truck body products. Wabash aims to enhance customer success through advanced solutions. The press release encompasses forward-looking statements regarding demand, financial performance, and potential risks due to operational disruptions and market conditions.
Wabash (NYSE:WNC) announced participation in the Stephens Annual Investment Conference on November 15, 2022, in Nashville, Tennessee. CEO Brent Yeagy will discuss the company's strong execution in 2022, a robust backlog for 2023, and growth initiatives aimed at achieving its financial targets of $3 billion in revenue, an 11% EBITDA margin, and $3.50 EPS by 2025. Interested parties can access the live or archived webcast through Wabash’s Investor Relations website.
Wabash (NYSE: WNC) has established a national partnership with Feeding America to tackle food insecurity in the U.S. The company will donate $150,000 this year to support mobile food pantries, which are essential for distributing fresh food in vulnerable communities. This initiative is an extension of Wabash's 20-year local involvement with Feeding America. The partnership aims to serve areas with high food insecurity rates, enhancing Wabash's community commitment while potentially expanding their logistics role in food distribution.
Wabash reported record quarterly revenue of $655.2 million, a 35.8% increase year-over-year, with an operating income of $52.9 million and an operating margin of 8.1%, up 430 basis points from last year. Diluted earnings per share reached $0.73, surpassing earlier expectations. The backlog stands at a record $2.3 billion, up 20% year-over-year. For 2022, Wabash maintains a revenue outlook of $2.5 billion and raises EPS guidance to $2.15.
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