Wabash National Raises Full Year 2014 Outlook
January 14 2015 - 8:22AM
- Full year 2014 trailer shipments exceeded prior
guidance mid-point by more than 2,000 units, raising full year
shipments to more than 57,300 units
- Strong fourth quarter performance leads to record full
year net sales, estimated to be $1.86 billion, a 14% year over year
increase
- Full year GAAP diluted earnings per share expected to
be $0.83-$0.85, an increase of approximately 24-27% over prior
year
Wabash National Corporation (NYSE:WNC), a diversified industrial
manufacturer and North America's leading producer of semi-trailers
and liquid transportation systems, today is updating and raising
the guidance previously provided on its full year expectations for
2014. Full year new trailer shipments exceeded 57,300 units, above
our previously provided full year guidance of 54,500 to 56,000 new
trailers, driven by stronger than anticipated customer pick-ups in
all areas of the business. As a result, consolidated net sales for
the full year 2014 are estimated to be approximately $1.86 billion,
an increase of approximately 14 percent as compared to the previous
year. Full year GAAP earnings are now anticipated to be in the
range of $0.83 to $0.85 per diluted share as Wabash benefited from
the higher volumes and improved operational performance.
Dick Giromini, president and chief executive officer, stated,
"We are very pleased with the exceptional performance in the fourth
quarter as trailer and equipment shipments exceeded our
expectations as favorable weather conditions, compared to the prior
year period, provided support to these efforts. With an
exceptionally strong backlog and continued operating improvements,
we were able to deliver our third consecutive record-setting
quarter and another all-time record year."
The information above is preliminary and is subject to change as
final results are completed. As a result, actual results could
be materially different from these estimates. Furthermore, the
information above is only a summary of certain estimates and does
not contain all information necessary for an understanding of the
Company's operating performance for 2014 or its financial condition
as of December 31, 2014. Wabash is scheduled to release its
fourth quarter and full year 2014 results, which will include
additional information on operating performance and financial
condition, on Tuesday, February 3, 2015, after the close of the
financial markets.
About Wabash National Corporation
Headquartered in Lafayette, Indiana, Wabash National Corporation
(NYSE:WNC) is a diversified industrial manufacturer and North
America's leading producer of semi trailers and liquid
transportation systems. Established in 1985, the Company
specializes in the design and production of dry freight vans,
refrigerated vans, platform trailers, liquid tank trailers,
intermodal equipment, engineered products, and composite
products. Its innovative products are sold under the following
brand names: Wabash National®, Transcraft®, Benson®, DuraPlate®,
ArcticLite®, Walker Transport, Walker Defense Group, Walker Barrier
Systems, Walker Engineered Products, Brenner® Tank, Beall®,
Garsite, Progress Tank, TST®, Bulk Tank International and Extract
Technology®. To learn more, visit 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 our 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 are
subject to risks and uncertainties that could cause actual results
to differ materially from those implied by the forward-looking
statements. Readers should review and consider the various
disclosures made by the Company in its filings with the Securities
and Exchange Commission, including the risks and uncertainties
described therein.
CONTACT: Media Contact:
Tom Rodak
Vice President, Corporate Marketing
(765) 771-5555
tom.rodak@wabashnational.com
Investor Relations:
Jeffery Taylor
Senior Vice President & Chief Financial Officer
(765) 771-5438
jeff.taylor@wabashnational.com
Wabash National (NYSE:WNC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Wabash National (NYSE:WNC)
Historical Stock Chart
From Sep 2023 to Sep 2024