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Wabash National

Wabash National Corp operates as the innovation leader of connected solutions for the transportation, logistics, and distribution industries. The company's mission is to enable customers to succeed with breakthrough ideas and solutions that help them move everything from the first to the final mile. It designs and manufactures a diverse variety of products, including dry freight and refrigerated trailers, platform trailers, tank trailers, dry and refrigerated truck bodies, structural composite panels and products, trailer aerodynamic solutions, and specialty food-grade processing equipment.

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Wabash National shares are trading lower after the company reported worse-than-expected Q3 financial results and lowered its FY24 outlook.

News

Guidance

Wabash National Lowers FY24 Outlook: Sees Revenues Of $1.95B (Estimate: $2.03B), Lower Than Prior View Of $2B-$2.2B; Projects Adjusted EPS Of $1.25 (Estimate: $1.50) From Prior View Of $1.50-$1.60

Wabash National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) reported quarterly earnings of $0.19 per share which missed the analyst consensus estimate of $0.23 by 17.39 percent. This is a 83.62 percent decrease over earnings of $1.16 per share from the same period last year. The company reported quarterly sales of $464.04 million which missed the analyst consensus estimate of $477.35 million by 2.79 percent. This is a 26.67 percent decrease over sales of $632.83 million the same period last year.

Earnings

Earnings Misses

Wabash National Q3 Adj $0.19 Misses $0.23 Estimate, Sales $464.04M Miss $477.35M Estimate

Wabash National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) is gearing up to announce its quarterly earnings on Thursday, 2024-10-24. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Wabash National will report an earnings per share (EPS) of $0.23.
Wabash National bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
In the previous earnings release, the company beat EPS by $0.09, leading to a 0.49% increase in the share price the following trading session.
Here's a look at Wabash National's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.55</td>
<td>0.45</td>
<td>0.91</td>
<td>1.02</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.64</td>
<td>0.39</td>
<td>1.07</td>
<td>1.16</td>
</tr>
<tr>
<td>Price Change %</td>
<td>0.0%</td>
<td>-2.0%</td>
<td>5.0%</td>
<td>2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729706487_0.png" alt="eps graph" />
<h3>Tracking Wabash National's Stock Performance</h3>
Shares of Wabash National were trading at $17.45 as of October 22. Over the last 52-week period, shares are down 18.16%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<h3>Analysts' Perspectives on Wabash National</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Wabash National.
Analysts have provided Wabash National with 2 ratings, resulting in a consensus rating of Neutral. The average one-year price target stands at $18.0, suggesting a potential 3.15% upside.
<h3>Peer Ratings Comparison</h3>
In this analysis, we delve into the analyst ratings and average 1-year price targets of Miller Industries, Shyft Group and Manitowoc Co, three key industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>Miller Industries received a Buy consensus from analysts, with an average 1-year price target of $82.0, implying a potential 369.91% upside.</li>
<li>The consensus outlook from analysts is an Buy trajectory for Shyft Group, with an average 1-year price target of $18.0, indicating a potential 3.15% upside.</li>
<li>Analysts currently favor an Neutral trajectory for Manitowoc Co, with an average 1-year price target of $10.77, suggesting a potential 38.28% downside.</li>
</ul>
<h3>Peer Metrics Summary</h3>
The peer analysis summary outlines pivotal metrics for Miller Industries, Shyft Group and Manitowoc Co, demonstrating their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Wabash National</td>
<td>Neutral</td>
<td>-19.81%</td>
<td>$89.66M</td>
<td>5.28%</td>
</tr>
<tr>
<td>Miller Industries</td>
<td>Buy</td>
<td>23.71%</td>
<td>$51.08M</td>
<td>5.53%</td>
</tr>
<tr>
<td>Shyft Group</td>
<td>Buy</td>
<td>-14.36%</td>
<td>$40.59M</td>
<td>0.87%</td>
</tr>
<tr>
<td>Manitowoc Co</td>
<td>Neutral</td>
<td>-6.75%</td>
<td>$99.70M</td>
<td>0.27%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Wabash National ranks at the bottom for Revenue Growth and Gross Profit among its peers. It is in the middle for Return on Equity.
<h3>Delving into Wabash National's Background</h3>
Wabash National Corp operates as the innovation leader of connected solutions for the transportation, logistics, and distribution industries. The company's mission is to enable customers to succeed with breakthrough ideas and solutions that help them move everything from the first to the final mile. It designs and manufactures a diverse variety of products, including dry freight and refrigerated trailers, platform trailers, tank trailers, dry and refrigerated truck bodies, structural composite panels and products, trailer aerodynamic solutions, and specialty food-grade processing equipment.
<h3>Financial Insights: Wabash National</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, Wabash National faced challenges, resulting in a decline of approximately -19.81% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Wabash National's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 5.26%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Wabash National's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 5.28%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Wabash National's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.13% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Wabash National's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.74.
<a href="https://www.benzinga.com/quote/WNC/earnings">To track all earnings releases for Wabash National visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Wabash National's Earnings

This partnership will secure critical steel components, including hot-rolled, galvanized, and painted steel coils and steel crossmembers, to support Wabash&#39;s extensive transportation solutions portfolio of van trailers, tank trailers, platform trailers and truck bodies.

Contracts

STLD

Wabash Inks 10-Year Strategic Agreement With Steel Dynamics

Correction: DA Davidson analyst Michael Shlisky maintains Wabash National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) with a Neutral and lowers the price target from $23 to $18. Price target Changed

Price Target

Analyst Ratings

Correction: DA Davidson Maintains Neutral on Wabash National, Lowers Price Target to $18. Price target Changed.

DA Davidson analyst Michael Shlisky maintains Wabash National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) with a Neutral and maintains $23 price target.

DA Davidson Maintains Neutral on Wabash National, Maintains $23 Price Target

The firm is&nbsp;evaluating all available legal options in response to the verdict by a St. Louis jury in Williams et al. v. Wabash. The case concerns a 2019 motor vehicle accident in which a passenger vehicle traveling at a high speed struck the back of a nearly stopped 2004 Wabash trailer.
&quot;While this was a tragic accident, we respectfully disagree with the jury&#39;s verdict and firmly believe it is not supported by the facts or the law,&quot; said Wabash&#39;s General Counsel and Chief Administrative Officer Kristin Glazner. &quot;No rear impact guard or trailer safety technology has ever existed that would have made a difference here.&quot;

Wabash National Says It Is Evaluating All Available Legal Options In Response To The Verdict By A St. Louis Jury In Williams, Which Is About A Case Related To A Motor Vehicle Accident In 2019

The case related to a vehicle accident that resulted in two fatalities following a rear-end collision by a passenger vehicle with a tractor-trailer owned and operated by co-defendant GDS Express Inc. The Company believes that the compensatory damages will be covered by the Company&rsquo;s insurance policies.
There will be post-judgment proceedings before the court enters a final judgment, and the Company will be evaluating all available legal options.&nbsp;The Company believes that the compensatory damages will be covered by the Company&rsquo;s insurance policies.
The ultimate outcome of the Product Liability Matter cannot be predicted with any certainty and the Award could materially and adversely affect the Company&rsquo;s financial condition, results of operations and cash flows.

Legal

Wabash National Says A Jury Awarded Compensatory Damages Of $12M And Punitive Damages Of $450M Against Company In Lawsuit In Which It Was Named As Co-defendant - Filing

Management

Wabash Announces Patrick Keslin Promoted To Chief Financial Officer

Wabash Cuts FY24 Revenue Outlook From $2.2B - $2.4B To $2.0B - $2.2B (Est $2.24B) And EPS Guidance From $2.00 - $2.50 To $1.50 - $1.60 (Est $2.06)

Wabash National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) reported quarterly earnings of $0.64 per share which beat the analyst consensus estimate of $0.56 by 14.29 percent. This is a 58.44 percent decrease over earnings of $1.54 per share from the same period last year. The company reported quarterly sales of $550.610 million which missed the analyst consensus estimate of $594.740 million by 7.42 percent. This is a 19.81 percent decrease over sales of $686.620 million the same period last year.

Earnings Beats

Wabash National Q2 2024 Adj EPS $0.64 Beats $0.56 Estimate, Sales $550.610M Miss $594.740M Estimate

DA Davidson analyst Michael Shlisky reiterates Wabash National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) with a Neutral and maintains $23 price target.

Reiteration

DA Davidson Reiterates Neutral on Wabash National, Maintains $23 Price Target

DA Davidson analyst Michael Shlisky maintains Wabash National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) with a Neutral and lowers the price target from $27 to $23.

DA Davidson Maintains Neutral on Wabash National, Lowers Price Target to $23

Although U.S. stocks closed mostly higher on Friday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Integra LifeSciences Holdings</h3>
<ul>
<li>The Trade: Integra LifeSciences Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IART#NASDAQ">IART</a>) Director, Exec. Chairman of the Board Stuart Essig <a href="https://www.benzinga.com/quote/IART/analyst-ratings">acquired a total of 52,641 shares</a> at an average price of $28.49. To acquire these shares, it cost around $1.5 million.</li>
<li>What's Happening: On May 6, Integra LifeSciences reported first-quarter revenues of $368.9 million, down 3.1% Y/Y on a reported basis and 2.5% on an organic basis, beating the consensus of $361.96 million and the management guidance of $360 million to $365 million.</li>
<li>What Integra LifeSciences Holdings Does: Integra Lifesciences Holdings Corp is a New Jersey-based medical equipment company focused on developing products for regenerative therapy, extremity orthopedics, and neurosurgical applications.</li>
</ul>
<h3 class="wp-block-heading">Manitowoc Company</h3>
<ul>
<li>The Trade: The Manitowoc Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTW#NYSE">MTW</a>) EVP &amp; Chief Financial Officer Brian P Regan acquired a total of 1,000 shares at an average price of $12.21. To acquire these shares, it cost around $12,210.</li>
<li>What's Happening: On May 7, Manitowoc reported weak first-quarter earnings.</li>
<li>What Manitowoc Company Does: Manitowoc Co Inc provides engineered lifting solutions. It designs and manufactures mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, and boom trucks.</li>
</ul>
Don&#8217;t forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">Leggett &amp; Platt</h3>
<ul>
<li>The Trade: Leggett &amp; Platt, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEG#NYSE">LEG</a>) Director Mark A Blinn <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 6,000 shares</a> at an average price of $10.74. To acquire these shares, it cost around $64,439.</li>
<li>What's Happening: On May 21, Leggett &amp; Platt named Karl Glassman as President and CEO.</li>
<li>What Leggett &amp; Platt Does: Leggett &amp; Platt Inc designs and produces engineered components and products found in homes and automobiles.</li>
</ul>
<h3 class="wp-block-heading">Wabash National</h3>
<ul>
<li>The Trade: Wabash National Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) Director John G. Boss <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 3,658 shares</a> at an average price of $16.45. The insider spent around $60,163 to buy those shares.</li>
<li>What's Happening: On May 21, the company declared a regular quarterly dividend of 8 cents per share of the company&#8217;s common stock.</li>
<li>What Wabash National Does: Wabash National Corp operates as the innovation leader of connected solutions for the transportation, logistics, and distribution industries.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/39006627/top-3-materials-stocks-that-are-set-to-fly-this-quarter">Top 3 Materials Stocks That Are Set To Fly This Quarter</a>

Long Ideas

Insider Trades

Pre-Market Outlook

Markets

Trading Ideas

IART

$1.5M Bet On This Healthcare Stock? Check Out These 4 Stocks Insiders Are Buying

REE Automotive Ltd&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) announced Wednesday that &nbsp;Penske Truck Leasing&nbsp;will begin offering Powered by REE EVs to its customers interested in electrifying their fleets for demos and orders, adding further momentum to REE&#8217;s current $50 million order book value.&nbsp;
REE Auto said Penske&#8217;s customers will have the opportunity to experience the intended benefits of the world&#8217;s first U.S. Federal Motor Vehicle Safety Standards (FMVSS) certified, software-driven, electric vehicle powered by REEcorner full by-wire technology, including:&nbsp;
<ul>
<li>Superior maneuverability and all-wheel drive functionality</li>
<li>Enhanced safety with fail-operational design via redundancies in hardware and software</li>
<li>Driver-centric cabin with excellent ergonomics and low chassis height</li>
<li>REEcorners designed for serviceability for a low total cost of ownership (TCO)</li>
<li>Strong residual values</li>
<li>Future-proofed, autonomous-ready and over-the-air (OTA) upgrade capable</li>
<li>Modular design and quick time to market</li>
<li>Optimal energy efficiency</li>
</ul>
Daniel Barel, CEO and co-founder of REE Automotive, said, &#8220;We are currently working on additional P7-C configurations to maximize utilization within Penske&#8217;s large product offering,&#8221;
REE collaborated with&nbsp;Wabash National Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) to&nbsp;upfit&nbsp;the P7-C with a custom DuraPlate truck body utilizing the unique low floor, all-wheel steer, all-wheel drive full-by-wire P7-C characteristics.&nbsp;
Wabash&#8217;s DuraPlate technology&#8217;s lightweight properties enhance the feasibility of electric chassis for fleets while maintaining durability.&nbsp;
Vehicles Powered by REE are&nbsp;upfit-ready and designed to offer considerable benefits for body installations, including:
<ul>
<li>No Drill: Integrated mounting weld nuts so that bodies can be secured directly to frame rails</li>
<li>Battery Maintenance: Accessible from under the chassis</li>
<li>Flat Floor with integrated ramp: Structural advantages and weight savings by reducing the need for additional body mounting kits, and independent suspension to reduce body stresses. The ramp takes advantage of the low-floor box configuration.</li>
<li>Electrical Integration: Plug-and-play chassis harnesses for aftermarket electrical and ADAS systems</li>
<li>Driver Assistance Systems: Seamless integration of third-party systems; camera images can be viewed directly on the infotainment screen.</li>
</ul>
Price Action: REE shares closed higher by 4.26% at $4.65 on Tuesday.
Photo via Company

Market-Moving Exclusives

Exclusives

EXCLUSIVE: REE Partners with Penske to Launch P7-C EV Trucks, Enhancing Fleet Electrification Options

&quot;2024 is a pivotal year for our strategic advancement. Despite a down year for dry vans, we view this as an unprecedented opportunity to continue investing in our business,&quot; said Brent Yeagy, president and chief executive officer.
&quot;We are strengthening our competitive position by leveraging our dealer network to create national scale and integrating digital solutions to better enable access to parts, trailers and services across this network. With the ongoing development of our Wabash Marketplace digital platform, we anticipate streamlining the supply chain experience and offering best in class access to parts, services as well as Trailers as a Service (TAAS),&quot;&nbsp;explained Yeagy.

Wabash National Keeps FY24 Revenue Outlook Of $2.2B-$2.4B Vs. 2.25B Estimate; Maintains EPS Guidance Range Of $2.00-$2.50 Vs. $2.19 Estimate

Wabash National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) reported quarterly earnings of $0.39 per share which missed the analyst consensus estimate of $0.45 by 13.33 percent. This is a 62.5 percent decrease over earnings of $1.04 per share from the same period last year. The company reported quarterly sales of $515.28 million which missed the analyst consensus estimate of $516.85 million by 0.30 percent. This is a 17.02 percent decrease over sales of $620.95 million the same period last year.

Wabash National Q1 Adj $0.39 Misses $0.45 Estimate, Sales $515.28M Miss $516.85M Estimate

Buybacks

Wabash Increases Stock Repurchase Program By Up To Additional $150M

Wabash Expects Moderation In 2024 Financial Performance Vs. 2023; Sees 2024 Sales Of $2.2B-$2.4B (Est. $2.304B) And EPS Of $2.00-$2.50 (Est. $2.74)

This week, several dividend stocks are trading close to their 52-week lows. Here is a list of ten such stocks that are also reaching their ex-divid...

Ex-Dividend Date Nearing for These 10 Stocks – Week of October 7, 2024

Wabash National lands $1.6M DOE grant for research

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Wabash National Q3 2024 Earnings Preview

Here's the major earnings before the open tomorrow

Wabash National Non-GAAP EPS of $0.19 misses by $0.04, revenue of $464M misses by $13.35M

Lowers FY24 revenue view to $1.95B from $2.2B-$2.4B, consensus $2.03B. Published first on TheFly – the ultimate source for real-time, market-moving...

Wabash lowers FY24 adjusted EPS view to $1.25 from $2.00-$2.50, consensus $1.50

Reports Q3 revenue $464M vs. $632.83M last year. "During Q3, our GAAP EPS was ($7.53), primarily as a result of taking a $450M non-cash charge as t...

Wabash reports Q3 non-GAAP EPS 19c vs. $1.16 last year

Wabash National Corporation (WNC) Q3 2024 Earnings Call Transcript

D.A. Davidson analyst Michael Shlisky reiterated a Hold rating on Wabash National (WNC – Research Report) today and set a price target of $18.00. T...

D.A. Davidson Reaffirms Their Hold Rating on Wabash National (WNC)

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Dividends

Press Releases

Wabash Announces Quarterly Dividend

Wabash Announces Executive Leadership Changes

Wabash to Explore All Options in Response to St. Louis Circuit Court Verdict

Wabash Honored as One of America's Most Admired Workplaces 2025 by Newsweek

General

Kodiak Selects Wabash's Trailers as a Service to Optimize Its Autonomous Fleet

Wabash and Steel Dynamics Forge 10-Year Strategic Partnership

Ignite 2024: Leaders Gather to Discuss What's Next for the Transportation, Logistics and Distribution Industry

Wabash Schedules Third Quarter 2024 Earnings Conference Call

Wabash Partners with University of Delaware to Advance Solar Solutions in Commercial Transportation

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