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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 (NYSE: WNC) is hosting a virtual investor meeting on May 19, 2022, from 10:00 a.m. to noon EDT. Senior leadership, including CEO Brent Yeagy and CFO Mike Pettit, will discuss the company’s refreshed strategy, growth initiatives, and financial targets, followed by a Q&A session. Interested participants can register for the live event or access a playback at ir.onewabash.com.
Wabash is a leader in connected solutions for the transportation and logistics industries, providing innovative products from trailers to specialty equipment.
Wabash reported a 39.5% increase in net sales to $546.8 million for Q1 2022, driven by strong demand and new trailer shipments. Operating income was $20.1 million, with diluted earnings per share at $0.24, surpassing expectations. The backlog reached a record $2.3 billion, up 50% YoY. The company raised its 2022 revenue outlook to $2.5 billion and EPS to $1.90, buoyed by robust performance and a stable domestic market. CEO Brent Yeagy highlighted the positive trajectory for growth and sustainable product development initiatives.
Lincolnshire Management announces the sale of Schumacher Electric Corporation to private investment firm Ripple Industries LLC. While financial terms were undisclosed, this marks a significant transition for Schumacher, a leader in power supply products in the U.S. Under Lincolnshire's ownership since October 2020, Schumacher expanded into EV chargers and enhanced its e-commerce initiatives. Lincolnshire cites successful product extensions and a driven management team led by CEO Mickey Leech as key growth factors. Lincolnshire previously invested in notable firms like Holley Inc. (NYSE: HLLY) and Wabash National Corporation (NYSE: WNC).
Wabash (NYSE: WNC) will host a webcast for its Q1 2022 earnings conference call on April 27, 2022, at 10:00 a.m. ET. Investors can access the call through the 'Investors' section of Wabash's website. A replay will be available post-call for one year. The earnings press release and related materials will be posted by 7:00 a.m. ET on the same day.
Wabash is known for its innovative solutions in transportation and logistics, manufacturing products such as trailers and truck bodies.
Wabash (NYSE: WNC) has released its 2021 Corporate Responsibility Report, highlighting the company's ongoing commitment to environmental, social, and governance (ESG) initiatives. CEO Brent Yeagy emphasized Wabash's role as an industry leader in product design and its focus on sustainability to meet customer carbon reduction goals. The report aligns with the Task Force on Climate-related Financial Disclosures and incorporates Sustainability Accounting Standards Board metrics. Both the report and Yeagy's annual letter to stockholders are available on the company's investor relations website.
Wabash has partnered with Clarience Technologies to enhance trailer technology and connectivity, essential for the rise of electric and autonomous vehicles. As part of this alliance, Road Ready advanced telematics will be standard on all dealer stock trailers, offering a 90-day trial subscription. This innovative telematics system provides asset tracking, real-time insights, and data integration for improved fleet management. Both companies aim to lead in smart transportation solutions, emphasizing collaboration to foster industry advancements in connectivity.
Wabash (NYSE:WNC), a leader in engineered solutions for the transportation industry, announced its participation in two investor conferences. Senior VP and CFO Mike Pettit will conduct private meetings at the JP Morgan Global High Yield Conference on February 28, 2022, in Miami, Florida. Additionally, CEO Brent Yeagy will present at the Raymond James 43rd Annual Institutional Investors Conference on March 7, 2022, at 10:25 a.m. ET in Orlando, Florida. The presentations and meetings can be accessed via Wabash's Investor Relations website.
Wabash National Corporation (NYSE: WNC) declared a quarterly dividend of $0.08 per share, scheduled for payment on April 28, 2022, to stockholders of record on April 7, 2022. The company, based in Lafayette, Indiana, is a leader in engineered solutions for the transportation and logistics sectors. This dividend announcement reflects Wabash's commitment to returning value to its shareholders while positioning for future growth through innovative products and services in the trailer and truck body market.
Meritor, Inc. (NYSE: MTOR) announced the extension of its long-term agreement with Wabash until December 31, 2026, marking their first five-year agreement. This extension ensures that Meritor's loose axles will remain standard equipment for Wabash, with options for the Meritor Tire Inflation System (MTIS™), MTA-Tec6™, MPA suspensions, and EX+™ LS air disc brakes. MTIS helps improve fuel economy, while Meritor's suspensions and brakes enhance performance and durability. The longstanding partnership continues to yield innovative trailer products.
Wabash (NYSE: WNC) reported a record backlog of $2.5 billion, up 31% sequentially and 70% year-over-year. Fourth quarter 2021 revenue was $479.3 million, with a GAAP operating loss of $(18.6) million. Non-GAAP adjustments reveal operating income of $9.7 million. The company maintains its 2022 EPS outlook of $1.75. Wabash is transitioning to a unified brand strategy, retiring legacy names to enhance its market presence. Management remains optimistic about 2022, focusing on cost recovery and margin stability despite ongoing supply chain challenges.