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Jun 30, 2024
Wabash National Q2 2024 Earnings Report
Reported quarterly revenue of $551 million and diluted earnings per share of $0.64, exceeding the prior outlook range.
Key Takeaways
Wabash National Corporation reported a decrease in net sales by 19.8% compared to the same quarter of the previous year, with net sales of $550.6 million. Diluted earnings per share was $0.64. The company has reduced its full year revenue outlook to $2.0B - $2.2B and EPS guidance to $1.50 - $1.60.
Quarterly revenue of $551 million, within the prior quarterly outlook range.
Operating income of $44 million with operating margin of 7.9%.
Quarterly diluted earnings per share of $0.64, exceeding the prior quarterly outlook range.
Total backlog of $1.3B; Q2 sequential reduction slightly more than usual seasonality.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company reduced its revenue outlook to a range of approximately $2.0 billion to $2.2 billion with a midpoint of $2.1 billion and reduced its EPS guidance to a range of $1.50 to $1.60 with a midpoint of $1.55 for the full-year ending December 31, 2024.
Positive Outlook
- Wabash is on track to achieve the best financial performance on record during a correction in our industry.
- Anticipate that there is a wide range of potential market outcomes that will allow Wabash to generate year-on-year EPS growth.
- Strength anticipate in TaaS specifically.
- Strength in Parts & Services more broadly.
- Strength in our truck body business.
Challenges Ahead
- The demand environment has incrementally weakened during the first half of 2024.
- Reduction in 2024 was slightly more than prior years due to continued freight market weakness.
- With greater information on customers' capital expenditure plans, we feel it's appropriate to reduce our full year guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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