Wabash National Q3 revenue rises on strong shipments
WNC•Wabash National's third-quarter revenue rose 25% year over year to $476.4 million, while it posted an adjusted loss of $0.63 per share. The company expects fourth-quarter revenue of $420 million to $450 million and an adjusted loss of $0.75 to $0.55 per share.
1. Quarterly results
Wabash National said strong shipments in its Dry Van business and growth in Parts & Services helped lift third-quarter revenue 25% year over year to $476.4 million. Adjusted loss per share was $0.63, compared with the $0.46 loss expected by analysts in the report; operating income was negative $20 million.
2. Fourth-quarter outlook
The company expects fourth-quarter revenue of $420 million to $450 million and an adjusted loss per share of $0.75 to $0.55. Its backlog increased 25% sequentially, and it expects market conditions and financial results to improve after the fourth quarter. CEO Brent Yeagy said Wabash accelerated capacity expansion in the quarter to meet increased customer orders.
