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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 National Corporation (NYSE: WNC) announced a stock repurchase authorization of up to $150 million, extending through August 2024. This initiative corresponds to approximately 20% of the company's market cap and is the largest in its history. Since 2015, Wabash has returned around $360 million to shareholders via stock buybacks. This repurchase strategy aims to enhance shareholder value by reducing the number of outstanding shares and offsetting dilution from stock compensation. The company maintains flexibility to adapt the program based on market conditions.
Wabash National Corporation (NYSE:WNC) has declared a quarterly dividend of $0.08 per share, payable on October 28, 2021, to stockholders of record by October 7, 2021. This decision reflects the company's commitment to providing shareholder value and indicates a stable cash flow.
Wabash National is recognized for its innovations in engineered solutions for the transportation and logistics industries, producing a wide range of products including trailers and truck bodies.
Wabash National Corporation (NYSE: WNC) reported Q2 2021 revenue of $449.4 million, a 32.5% increase year-over-year, driven by strong customer demand. Operating income was $22.7 million (5.0% of sales) on a GAAP basis, with earnings per share at $0.24. The company's backlog surged 77% year-over-year to $1.3 billion. Despite manufacturing challenges, Wabash maintains its 2021 EPS outlook at $0.72, reflecting ongoing commitment to meet market demand and navigate supply chain pressures.
Wabash National Corporation (NYSE: WNC) will host a quarterly earnings call on July 28, 2021, at 10:00 a.m. ET, to discuss its Q2 2021 financial results. The call will be available via webcast on their website, with a replay accessible for one year. Related materials, such as the earnings press release and slides, will be posted by 7:00 a.m. ET on the same day. Wabash National, based in Lafayette, Indiana, is known for engineered solutions in transportation and logistics, offering a diverse range of products under various brand names.
Wabash National Corporation (NYSE: WNC) announced the sale of Extract Technology to Dietrich Engineering Consultants SA, effective June 30, 2021. Extract Technology, a supplier of containment and aseptic systems, generated approximately $22 million in sales in 2020. The divestiture aligns with Wabash’s strategic focus on transportation, logistics, and distribution markets. Senior Vice President Mike Pettit emphasized that the sale allows the company to concentrate on core growth areas such as home delivery and cold chain solutions.
Wabash National Corporation (NYSE:WNC) has declared a quarterly dividend of $0.08 per share, set to be paid on July 29, 2021, to stockholders on record as of July 8, 2021. The company is recognized as an innovation leader in engineered solutions for the transportation, logistics, and distribution sectors, offering a variety of products like trailers and truck bodies. Forward-looking statements highlight expectations regarding demand, profitability, and potential risks from economic conditions, competition, and supply chain issues.
Wabash National Corporation (NYSE: WNC) reported Q1 2021 revenue of $392.0 million, a 1.3% increase year-over-year. Operating income improved to $11.2 million, yielding an operating margin of 2.9%. The company reported net income of $3.2 million, or $0.06 per share. A strong backlog of $1.5 billion, up 57% YoY, reflects robust customer demand despite seasonal trends. Wabash maintains its 2021 EPS outlook at $0.75, with projected sales between $1.95 billion and $2.05 billion. The company is focused on enhancing production capacity to meet future demand.
Wabash National Corporation (NYSE: WNC) will host a webcast for its first-quarter earnings call on April 28, 2021, at 10:00 a.m. ET. Investors can access the call via phone at (833) 476-0947, conference ID 2497361, or via the company's website. The related earnings press release and presentation materials will be available on the 'Investors' section of Wabash National’s website by 7:00 a.m. ET the same day. Wabash National specializes in engineered solutions for transportation and logistics, manufacturing a wide range of trailers and related products.
Wabash National Corporation (NYSE:WNC) announced a quarterly dividend of $0.08 per share, payable on April 29, 2021, to shareholders on record as of April 8, 2021. The company, recognized as an innovation leader in engineered solutions for the transportation and logistics industries, continues to support its stakeholders through consistent dividends. Wabash designs a range of products including trailers and truck bodies, aiming to enable customer success with breakthrough ideas and solutions.
Wabash National Corporation (NYSE: WNC) reported fourth quarter 2020 revenue of $404.1 million and operating income of $10.0 million, reflecting a decremental margin of 12%. Net income for the quarter was $5.5 million or $0.10 per diluted share. The total backlog increased to $1.5 billion, up 43% from the previous quarter. For 2021, WNC forecasts sales between $1.9 billion and $2.0 billion, with an EPS guidance of $0.75. The company emphasized resilience during 2020's market challenges, achieving free cash flow of $104 million.
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