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 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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Wabash (NYSE: WNC) has scheduled its quarterly earnings conference call for the third quarter of 2022 on October 26, 2022, at 11:00 a.m. ET. The call aims to review the company’s financial results and will be available via webcast on Wabash’s website under the Investors section. Related materials, including the earnings press release and slides, will be published by 7:00 a.m. ET on the same day. A replay will be accessible for one year post-call.
Wabash specializes in connected solutions for logistics and transportation, offering a variety of innovative products.
Wabash (NYSE: WNC) has honored 34 suppliers with its 2022 Supplier Awards, recognizing excellence in supply chain performance. The Pinnacle Award went to Steel Dynamics, known for its sustainable steelmaking practices. Wabash emphasized the importance of supplier relationships in navigating supply challenges. Twenty-eight suppliers received Platinum Awards for their commitment to logistics optimization. Additionally, five companies earned Distinguished Supplier Awards for outstanding service. The awards were presented at the Ignite business conference, where over 148 suppliers and partners gathered.
Wabash (NYSE: WNC) has announced an amendment to its asset-backed lending facility, increasing the total credit facility to $350 million and adding liquidity of up to $125 million. This liquidity will be used to enhance Wabash’s Trailers as a Service (TaaS) offering, part of its Parts and Services growth strategy. The amendment extends the facility's maturity to September 23, 2027, and allows for future increases up to $525 million, subject to lender approval. This strategic move is aimed at funding organic investments with favorable returns.
Wabash (NYSE: WNC) has appointed Trent Broberg to its Board of Directors, enhancing its governance with his significant experience in transportation and logistics. Broberg, currently the CEO of ACERTUS, has a robust background in M&A and product development from his previous role at Truckstop.com. His addition brings the total board members to eight, ensuring compliance with NYSE independence standards. Chairman Larry Magee expressed enthusiasm for Broberg's contributions to better represent shareholders as Wabash continues to lead in innovative solutions for transportation and logistics.
Wabash (NYSE: WNC) announced its participation in the D.A. Davidson Diversified Industrials and Services Conference on September 22, 2022, in Nashville, TN. CEO Brent Yeagy will engage in a panel discussion at 11:00 a.m. CT, focusing on the company's refreshed strategy and growth initiatives aimed at achieving its 2025 financial targets: $3.0B in revenue, 11% EBITDA margin, and $3.50 EPS. Wabash continues to lead in connected solutions for transportation, logistics, and distribution, manufacturing a diverse range of products from trailers to specialty equipment.
Harbinger has partnered with Wabash to enhance operational efficiency and driver comfort through advanced material science. This collaboration aims to create electric vehicles that meet industry demands for comfort and suitability in cold-chain logistics. With ongoing driver shortages and rising fuel prices, Wabash's experience in composite materials will be leveraged to improve vehicle ergonomics and reduce weight. Both companies seek to address current supply chain challenges and environmental impacts, with Wabash boasting over $1.8B in 2021 revenue, indicating its strong market position.
Wabash (NYSE: WNC) has launched the Wabash Acutherm, a new range of thermal management solutions that enhance thermal efficiency for various applications. These solutions ensure consistent temperature maintenance, crucial for food safety and consumer health. The product line includes refrigerated trailers and cargo van inserts, featuring EcoNex Technology for sustainability. Additionally, a recent $20 million investment in EcoNex Technology production aims to create over 200 jobs by the end of 2023, demonstrating the company's commitment to innovation in the cold chain market.