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Wabash National Corporation (NYSE: WNC), headquartered in Lafayette, Indiana, is a leading industrial manufacturer in North America, specializing in the production of semi-trailers and liquid transportation systems. Established in 1985, the company offers a wide array of products including dry freight vans, refrigerated vans, platform trailers, liquid tank trailers, intermodal equipment, engineered products, and composite products. These innovative products are marketed under renowned brand names such as Wabash National®, Transcraft®, Benson®, DuraPlate®, Walker Transport, Walker Defense Group, Walker Barrier Systems, Walker Engineered Products, Brenner® Tank, Beall®, Garsite, Progress Tank, TST®, Bulk Tank International, and Extract Technology®.
Wabash National Corp operates as a pioneer in providing connected solutions for the transportation, logistics, and distribution industries. By designing and manufacturing a diverse range of products such as dry freight and refrigerated trailers, platform trailers, tank trailers, truck bodies, and specialty processing equipment, the company aims to enhance efficiency from the first to the final mile. The company's mission is to enable its customers to succeed with breakthrough ideas and solutions.
Recent achievements include a joint venture with Fernweh Group LLC, an investment firm specializing in industrial technology. This partnership aims to accelerate the development of Wabash's digital platform, enhancing the overall experience for dealers, customers, and suppliers through an integrated partner ecosystem. Ayna.AI has been chosen as the implementation partner to scale up this platform.
Wabash's financial condition remains strong, with ongoing projects and partnerships that emphasize digital transformation and service expansion, such as the Trailer-as-a-Service (TaaS) offering. This provides carriers and shippers with the capacity they need to maximize operational and freight efficiency through an extensive dealer channel and parts distribution network.
In addition to commercial success, Wabash places a high priority on safety and operational excellence, a commitment recognized through multiple awards. The company's platform trailer operation in Cadiz, Kentucky, saw an 81% reduction in Total Recordable Incident Rate (TRIR) from 2022 to 2024, a testament to their 'Respect for People' ethos.
Wabash continues to innovate and adapt to the industry's rapid changes, evidenced by its recognition of suppliers and the implementation of safety measures across its operations. The company remains dedicated to delivering pragmatic solutions that help move everything from first to final mile, continuously evolving to meet the needs of the future.
Wabash (NYSE: WNC), a leader in connected solutions for transportation and logistics, has been recognized as one of America's Most Admired Workplaces 2025 by Newsweek. The company received a rating of 4.5 out of 5 stars, standing out as one of only two heavy-duty vehicle manufacturers on the list. Wabash is also one of five Indiana-based companies among the 400 total companies recognized.
The list was compiled based on a survey of over 250,000 U.S. employees and 1.5 million company reviews, evaluating factors such as corporate culture, work-life balance, and career advancement opportunities. This recognition follows other recent accolades for Wabash, including listings on Newsweek's America's Most Responsible Companies 2024, USA Today's Climate Leaders 2024, and Forbes' Best Small-Cap Companies 2024.
Wabash (NYSE: WNC) is evaluating legal options following a St. Louis jury verdict in Williams et al. v. Wabash, concerning a 2019 motor vehicle accident involving a 2004 Wabash trailer. The company disagrees with the verdict, stating it's not supported by facts or law. Key points:
1. The accident occurred nearly 20 years after the trailer's manufacture, which complied with all regulatory standards.
2. The jury was prevented from hearing critical evidence, including the driver's blood alcohol level being over the legal limit and neither occupant wearing a seatbelt.
3. Wabash maintains that no existing rear impact guard or trailer safety technology could have prevented the accident.
4. The company affirms its commitment to product quality and safety, continuing to provide solutions for safer roads.
Wabash (NYSE: WNC) announced strategic executive leadership changes effective September 1, 2024. Mike Pettit transitions to Senior VP, Chief Growth Officer. Patrick Keslin is promoted to Senior VP, Chief Financial Officer. Donald Winston becomes Senior VP, Global Operations. Drew Schwartzhoff is promoted to Senior VP, Strategic Marketing.
These changes aim to drive growth initiatives, expand market reach, and enhance the company's Parts and Services business. The reorganization reflects Wabash's commitment to developing top talent and aligning the organization for future growth in the transportation, logistics, and distribution industries.
Additionally, Dustin Smith will step down as Senior VP, Chief Operating Officer, transitioning to a senior advisory role until December 1, 2024, to ensure a smooth transition.
Wabash (NYSE:WNC), a leader in transportation and logistics solutions, has declared a quarterly dividend of $0.08 per share of common stock. The dividend will be payable on October 31, 2024, to stockholders of record as of October 10, 2024. Wabash, headquartered in Lafayette, Indiana, is known for its innovative approach to transportation solutions, offering a wide range of products including dry freight and refrigerated trailers, flatbed trailers, tank trailers, and specialty food grade processing equipment. The company's mission, 'Changing How the World Reaches You®', reflects its commitment to providing forward-thinking solutions for the transportation, logistics, and distribution industries.
Wabash (NYSE: WNC) reported Q2 2024 revenue of $551 million, a 19.8% YoY decline. Operating income was $44 million, with a 7.9% margin. EPS of $0.64 exceeded expectations. Backlog decreased 28% QoQ to $1.3 billion. The company lowered its 2024 revenue outlook to $2.0-$2.2 billion and EPS guidance to $1.50-$1.60.
Transportation Solutions net sales were $498.7 million, down 20.9% YoY, with an operating income of $56.9 million. Parts & Services' net sales were $54.9 million, down 11.5% YoY, with an operating income of $12.1 million. CEO Brent Yeagy emphasized operational stability and resilience despite market challenges.
Wabash anticipates achieving record financial performance during a market correction, with potential EPS growth in 2025 driven by strength in TaaS, Parts & Services, and the truck body business.
Wabash (NYSE: WNC) has announced a webcast for its Q2 2024 earnings conference call, set for Wednesday, July 24, 2024, at 12:00 p.m. ET.
Interested parties can access the call and accompanying slide presentation via Wabash's website under the 'Investors' section. The conference call can also be dialed in at (800) 715-9871 using the conference ID 9986205.
A replay will be available on Wabash's website shortly after the call and will remain accessible for one year. The earnings press release, slides, and other related materials will be posted by 7:00 a.m. ET on the day of the call.
Wabash (NYSE: WNC) announced a quarterly dividend of $0.08 per share of its common stock, payable on July 25, 2024, to shareholders registered by July 3, 2024.
Wabash specializes in innovative solutions for transportation, logistics, and distribution industries. Their product range includes dry and refrigerated trailers, platform trailers, tank trailers, truck bodies, structural composite panels, trailer aerodynamic solutions, and specialty food-grade processing equipment.
The company emphasizes its mission to help customers succeed with breakthrough ideas, covering all stages from first to final mile.
Wabash, a leader in transportation solutions, received two 2023 Plant Safety Awards for its operations in Mexico and Kentucky. The awards highlight the company's commitment to safety and operational excellence. The recognition is based on injury data from OSHA's Annual Summary Form 300A. Wabash's Cadiz operation significantly reduced its Total Recordable Incident Rate by 81% from 2022 to 2024, showcasing a strong culture of safety.
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