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Mar 31, 2020
Wabash National Q1 2020 Earnings Report
Wabash National's financial performance declined due to goodwill impairment and COVID-19 impacts.
Key Takeaways
Wabash National Corporation reported a decrease in net sales to $387.1 million, with an operating loss of $110.1 million primarily due to a goodwill impairment of $107.1 million. GAAP earnings per share was $(2.01), while non-GAAP earnings per share was $(0.04). The company's backlog remained relatively stable at $1.0 billion.
GAAP Earnings Per Share of $(2.01) or non-GAAP Adjusted Earnings Per Share of $(0.04).
First Quarter Backlog of $1.0 billion shows relative stability.
Strong liquidity position, patient debt structure with no financial covenants at present borrowing levels.
Capital allocation focused on liquidity, maintaining dividend and debt reduction.
Forward Guidance
The COVID-19 pandemic is sure to have a significant impact on the economy in 2020, though the company has been encouraged by the relative stability of backlog through this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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