Wabash National Guides Q2 Revenue of $380M–$400M; Backlog Hits $837M
Wabash National expects Q2 revenue of $380M–$400M, a negative 5% operating margin and adjusted EPS of minus $0.40 to minus $0.60. Company’s backlog rose 19% to $837M, and it is investing in parts, services, digital tools and Lafayette South capacity while benefiting from Section 232 tariffs.
1. Q1 Performance and Q2 Guidance
Wabash National identified Q1 2026 as a cyclical low point with uneven order patterns and negative gross margins driven by lower production volumes, and projects Q2 revenue of $380M–$400M, a negative 5% operating margin and adjusted EPS of minus $0.40 to minus $0.60.
2. Backlog Growth and Capacity Expansion
The company’s backlog rose 19% sequentially to $837M, marking a historic high for a first quarter, and capacity expansion at the Lafayette South plant will enable production of 10,000 incremental trailers without large-scale immediate hiring.
3. Strategic Investments and Tariff Benefits
Wabash National is investing in parts, services, digital enablement tools like SpecSync and manufacturing operations to differentiate its offerings, while Section 232 tariffs and antidumping duties are expected to stabilize pricing and support market share growth.