Wabash National (NYSE:WNC) Issues Quarterly Earnings Results, Misses Estimates By $0.17 EPS

Wabash National (NYSE:WNC) released its quarterly earnings data on Thursday. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.17), FiscalAI reports. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%. The business had revenue of $476.41 million during the quarter, compared to analyst estimates of $453.74 million. During the same period in the prior year, the firm earned ($0.51) EPS. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year.

Here are the key takeaways from Wabash National’s conference call:

• Dry-van demand accelerated significantly, with backlog rising from more than 12,000 units for 2027 at quarter-end to nearly 20,000 by mid-October; total backlog reached $1.3 billion. Management expects Wabash’s 2027 dry-van volume to be approximately 35,000–38,000 units, with upside toward the low-40,000 range.
• Pricing and material margins are improving, with the current 2027 dry-van backlog averaging more than 600 basis points above Q2 2026. Wabash expects to reach quarterly profitability by Q2 2027 and an annualized EBITDA run rate of $150 million–$170 million as higher volumes and second-shift operations scale.
• Near-term profitability remains pressured by production-readiness costs pulled forward from 2027, continued truck-body weakness, and manufacturing inefficiencies. Wabash expects fourth-quarter revenue of $420 million–$450 million, adjusted operating margin of negative 8% to negative 5%, and adjusted EPS of negative $0.75 to negative $0.55.
• Liquidity improved 44% sequentially to $277 million following the convertible debt issuance and Goshen facility sale, while the asset-based loan currently has no balance and is available to fund working-capital needs. However, management is still evaluating options to address its high-yield bonds before October 2027.
• The recovery is expected to be uneven across the portfolio: dry vans are showing strong replacement-cycle momentum, while truck body is projected to recover roughly six to nine months later and remains dependent on broader macroeconomic conditions. Management also expects Parts & Services revenue growth of 5%–10%, with margins improving as startup costs fade.

Wabash National Stock Performance

WNC stock traded down $0.55 during trading on Thursday, reaching $13.27. 2,178,202 shares of the company’s stock were exchanged, compared to its average volume of 836,093. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 1.75. Wabash National has a 1-year low of $6.63 and a 1-year high of $14.55. The company’s fifty day moving average price is $12.87 and its 200-day moving average price is $10.87. The firm has a market cap of $540.70 million, a PE ratio of -6.88 and a beta of 1.48.

Wabash National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 8th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, October 8th. Wabash National’s dividend payout ratio (DPR) is currently -16.58%.

Analysts Set New Price Targets

A number of brokerages have commented on WNC. DA Davidson restated a “buy” rating and issued a $20.00 target price on shares of Wabash National in a research note on Tuesday, September 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Wabash National in a report on Wednesday, August 12th. Citizens Jmp assumed coverage on Wabash National in a report on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 price target on the stock. Wall Street Zen upgraded Wabash National from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Citigroup restated a “market outperform” rating on shares of Wabash National in a research note on Tuesday, October 20th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.33.

About Wabash National

Wabash National Corporation is a transportation equipment and logistics solutions manufacturer headquartered in Lafayette, Indiana. The company designs and produces equipment used to move freight across North America, serving trucking, transportation, distribution, and logistics customers.

Its product portfolio includes dry and refrigerated van trailers, platform trailers, truck-mounted tanks, and other specialized transportation equipment. Wabash also provides related parts, services, and technologies intended to support trailer maintenance, fleet operations, and supply-chain efficiency.