Welcome to our dedicated page for Wabash National news (Ticker: WNC), a resource for investors and traders seeking the latest updates and insights on Wabash National stock.
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) announces expansion of its Parts and Services Distribution Network with 14 new locations across seven states. The expansion of the Preferred Partner Network enhances parts availability in areas not currently served by Wabash van trailer dealers. The network includes new locations from Blaine Brothers, Great Western Trailer, North American Trailer, and U.S. Trailer Parts & Supply across Minnesota, Wisconsin, New Mexico, Oklahoma, Texas, North Dakota, and Illinois. Wabash Parts, created in 2022, unifies the company's tech-enabled parts distribution capabilities across all Transportation Solutions product lines, utilizing dealer service capabilities and national wholesale distribution infrastructure.
Wabash (NYSE: WNC) reported Q3 2024 results with revenue of $464 million, down 26.7% year-over-year. The company took a $450 million non-cash charge related to a legal verdict, resulting in a GAAP operating loss of $433 million. Non-GAAP adjusted operating income was $17 million. Q3 GAAP EPS was $(7.53), while adjusted EPS was $0.19. Total backlog stood at $1.0 billion, down 22% from Q2 2024. The company reduced its full-year 2024 outlook, with revenue guidance lowered to $1.95 billion and non-GAAP adjusted EPS to $1.25.
Wabash (NYSE: WNC) has been awarded a $1.6 million grant from the U.S. Department of Energy Solar Energy Technologies Office for a three-year research project starting next year. In partnership with the University of Delaware's Center for Composite Materials, the project aims to integrate high-efficiency solar energy into refrigerated trailers and truck bodies, advancing zero-emission mid-mile transportation.
The project will combine Wabash's proprietary EcoNex™ Technology for enhanced thermal efficiency with the University of Delaware's TuFF technology, utilizing recycled aerospace-grade carbon fiber. This collaboration seeks to address key electrification challenges by reducing weight and energy consumption in commercial vehicles, potentially revolutionizing refrigerated transport and offering a truly green, well-to-wheel approach to energy consumption.
Wabash (NYSE: WNC) has announced its upcoming third quarter 2024 earnings conference call, scheduled for Thursday, October 24, 2024, at 12:00 p.m. ET. The company will webcast the call along with an accompanying slide presentation on the 'Investors' section of its website, www.onewabash.com, under 'Events & Presentations'. Interested parties can also access the call by dialing (800) 715-9871 with conference ID 9986205.
A replay of the call will be made available shortly after its conclusion in the same section of Wabash's website. The company will post its earnings press release, earnings slides, and related presentation materials by 7:00 a.m. ET on the day of the call, which will remain accessible following the event.
Wabash (NYSE: WNC) is hosting Ignite 2024, a premier thought leadership event in Louisville, Ky., bringing together over 300 leaders from the transportation, logistics, and distribution sectors. The event, themed 'Stronger Together', focuses on addressing industry challenges and opportunities through collaboration.
Key topics include supply chain resilience, enhanced connectivity, and the future of transportation networks. Sessions will cover critical issues such as connected and autonomous technologies, trailer electrification, sustainable freight mobility, cold chain logistics, and digital advancements in the ecosystem.
Participants will preview Wabash's latest innovations, including updates on Trailers as a Service (TaaS)℠, new developments in dry van and tank trailer technology, and a next-generation Acutherm™ Refrigerated Freight Body with EcoNex™ Technology.
Wabash (NYSE: WNC) has announced a 10-year strategic agreement with Steel Dynamics, Inc. to secure critical steel components for its transportation solutions portfolio. This partnership guarantees high-priority capacity and backup supply from multiple Steel Dynamics facilities, ensuring a robust domestic steel supply chain.
The agreement covers hot-rolled, galvanized, and painted steel coils and steel crossmembers, supporting Wabash's production of van trailers, tank trailers, platform trailers, and truck bodies. This collaboration strengthens Wabash's ability to meet customer needs without supply constraints, especially during periods of high demand.
This partnership aligns with Wabash's strategy of long-term demand planning and leveraging relationships with industry leaders. Similar agreements with Rockland Flooring, Ryerson, J.B. Hunt, and Hydro position Wabash as a leader in supply reliability and operational excellence in the commercial transportation industry.
Wabash (NYSE: WNC) has announced a partnership with Kodiak Robotics, an autonomous trucking company, to provide its Trailers as a Service (TaaS) offering. This collaboration aims to support Kodiak's autonomous fleet with flexible access to safe, reliable trailers nationwide. Wabash's TaaS offers a comprehensive solution covering trailer acquisition, maintenance, and uptime management.
The partnership allows Kodiak to focus on developing its autonomous technology while Wabash ensures optimal trailer performance and safety. Wabash will utilize its nationwide dealer network to provide critical managed care, leveraging self-diagnosing trailers for proactive monitoring and maintenance. This collaboration is expected to enhance operational reliability and road safety through well-maintained trailers.
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.
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