Wabash Provides Update on Current Conditions at Investor Conference

Rhea-AI Summary

Wabash (NYSE:WNC) presented at the Stephens Investment Conference on December 1, 2021, where CEO Brent Yeagy highlighted ongoing challenges in supply chain dynamics but noted robust demand in their transportation solutions portfolio. The company's backlog reached a record $2.3 billion, indicating strong order volumes. As Wabash evolves its partnerships with strategic customers, discussions are shifting towards multi-year frameworks to address long-term growth and equipment needs.

Positive

• Record backlog of over $2.3 billion as of November 2021.
• Strong demand for first to final mile transportation solutions.

Negative

• Ongoing supply chain challenges could impact operations and customer demand.

LAFAYETTE, Ind., Dec. 01, 2021 (GLOBE NEWSWIRE) -- Wabash (NYSE:WNC), the innovation leader of engineered solutions for the transportation, logistics and distribution industries, today presented at the Stephens Investment Conference. President and Chief Executive Officer Brent Yeagy provided an update on current conditions, citing that while supply chain dynamics continue to be challenging during the quarter, demand conditions remain robust.  

“We continue to use the full extent of our resources to manage through an uneven supply chain environment,” said Yeagy. “That said, demand remains robust across our first to final mile portfolio of transportation solutions and we have continued to book meaningful volumes of new orders during the quarter with our backlog ending November 2021 at a record level of more than $2.3 billion. We are growing to be a partner for an evolving set of strategic customers and our discussions are shifting to a multi-year framework in order to align on how we will support our customers’ long-term growth and related equipment needs as well as the formation of trailer pools to support power-only business models.”

About Wabash
As the innovation leader of engineered solutions for the transportation, logistics and distribution industries, Wabash (NYSE:WNC) is Changing How the World Reaches You™. Headquartered in Lafayette, Indiana, the company’s mission is to enable customers to succeed with breakthrough ideas and solutions that help them move everything from first to final mile. Wabash designs and manufactures a diverse range of products, including: dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade equipment. Its innovative products are sold under the following brand names: Wabash National^®, Benson^®, Brenner^® Tank, Bulk Tank International, DuraPlate^®, Supreme^®, Transcraft^®, Walker Engineered Products, and Walker Transport. Learn more at www.wabashnational.com.

Safe Harbor Statement

This press release contains certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey the Company’s current expectations or forecasts of future events. All statements contained in this press release other than statements of historical fact are forward-looking statements. These forward-looking statements include, among other things, all statements regarding the Senior Notes, revolving credit facility and Term Loan Credit Agreement. These and the Company’s other forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Without limitation, these risks and uncertainties include a continued or prolonged shutdown or reduction of our operations, substantially reduced customer orders or sales volumes and supply disruptions due to the coronavirus (COVID-19) outbreak, the continued integration of Supreme into the Company’s business, adverse reactions to the transaction by customers, suppliers or strategic partners, uncertain economic conditions including the possibility that customer demand may not meet our expectations, increased competition, reliance on certain customers and corporate partnerships, risks of customer pick-up delays, shortages and costs of raw materials including the impact of tariffs or other international trade developments, risks in implementing and sustaining improvements in the Company’s manufacturing operations and cost containment, dependence on industry trends and timing, supplier constraints, labor costs and availability, customer acceptance of and reactions to pricing changes and costs of indebtedness. Readers should review and consider the various disclosures made by the Company in this press release and in the Company’s reports to its stockholders and periodic reports on Forms 10-K and 10-Q.

Media Contact:
Dana Stelsel
Director, Communications
(765) 771-5766
dana.stelsel@wabashnational.com

Investor Relations:
Ryan Reed
Director, Corporate Development & Investor Relations
(765) 490-5664
ryan.reed@wabashnational.com

FAQ

What was the key announcement made by Wabash on December 1, 2021?

Wabash announced strong demand conditions and a record backlog of over $2.3 billion during their presentation at the Stephens Investment Conference.

How is Wabash addressing supply chain dynamics in their operations?

Wabash is utilizing all available resources to manage through an uneven supply chain environment while maintaining robust demand for their transportation solutions.

What fiscal implications does the record backlog have for Wabash?

The record backlog of over $2.3 billion suggests strong future revenue potential for Wabash, provided supply chain challenges do not disrupt fulfillment.

What challenges is Wabash facing according to their December 2021 update?

Wabash is facing ongoing supply chain challenges that could affect operations and customer orders.

What customer engagement strategy is Wabash adopting?

Wabash is shifting discussions with strategic customers towards multi-year frameworks to support long-term growth and equipment needs.