Wabash National Posts $45.2M Q1 Loss as Sales Fall 20.4%
Wabash National reported a first-quarter net loss of $45.2 million, or $1.11 per share, versus prior-year net income of $230.9 million, or $5.36 per share, on net sales down 20.4% to $303.2 million. It forecasts a second-quarter adjusted loss of $0.40–$0.60 per share on revenue of $380–$400 million.
1. First-Quarter Performance
Wabash National recorded a net loss attributable to common stockholders of $45.2 million, or $1.11 per share, in the quarter ended March 31, compared with net income of $230.9 million, or $5.36 per share, in the same period last year. Net sales declined 20.4% to $303.2 million from $380.9 million a year earlier.
2. Second-Quarter Outlook
For the fiscal second quarter, the company projects an adjusted loss between $0.40 and $0.60 per share with revenue expected in the range of $380 million to $400 million, reflecting ongoing challenges in demand and pricing pressure.
3. Market Reaction
In pre-market trading, shares changed hands at $8.36, a decrease of $0.33 or 3.82% from the previous close, as investors digested the weaker-than-expected results and cautious guidance.