- Net sales of $438 million for first quarter 2015, up 22
percent over prior year
- Operating income of $27.3 million for first quarter
2015, up 40 percent over prior year
- GAAP earnings of $0.15 per diluted share improves 50
percent over prior year
- Non-GAAP adjusted earnings per share improves 58
percent from prior year to $0.19 per diluted share
Wabash National Corporation (NYSE:WNC), a diversified industrial
manufacturer and North America's leading producer of semi-trailers
and liquid transportation systems, today reported results for the
first quarter ended March 31, 2015.
Net income for the first quarter of 2015 was $10.5 million, or
$0.15 per diluted share, compared to the first quarter 2014 net
income of $7.3 million, or $0.10 per diluted share. First quarter
2015 non-GAAP adjusted earnings were $13.8 million, or $0.19 per
diluted share, after excluding a $5.3 million charge related to the
extinguishment of debt incurred in connection with the refinancing
of the Company's term loan credit facility in March 2015. The
Company's prior year period results included the impact of one-time
costs related to a change in statutory income tax rates. Excluding
the impact of this item, non-GAAP adjusted earnings for the quarter
ended March 31, 2014 were $8.3 million, or $0.12 per diluted
share.
For the first quarter of 2015, the Company's net sales increased
22 percent to $438 million from $358 million in the prior year
quarter, and operating income increased 40 percent to $27.3 million
compared to operating income of $19.5 million for the first quarter
of 2014. Operating EBITDA, a non-GAAP measure that excludes the
effects of certain recurring and non-recurring items, for the first
quarter of 2015 was $39.1 million, an increase of $8.5 million
compared to Operating EBITDA for the previous year period. On a
trailing twelve month basis, the Company's net sales exceeded $1.9
billion, generating Operating EBITDA of $177.6 million, or 9.1
percent of net sales. Continued improvement in operating
performance is attributable to the successful execution of the
Company's growth and diversification strategy as well as a
disciplined approach to improving profitability. Through these
initiatives the Company has enhanced its growth and margin profile
and now derives its revenues and earnings from a broad array of
products, customers, end markets and geographies.
The following is a summary of select operating and financial
results for the past five quarters:
(Dollars in thousands, except per share
amounts) |
March 31, |
June 30, |
September 30, |
December 31, |
March 31, |
|
2014 |
2014 |
2014 |
2014 |
2015 |
|
|
|
|
|
|
Net Sales |
$ 358,120 |
$ 486,021 |
$ 491,697 |
$ 527,477 |
$ 437,597 |
|
|
|
|
|
|
Gross Profit Margin |
13.0% |
12.7% |
12.5% |
11.9% |
13.1% |
|
|
|
|
|
|
Income from Operations |
$ 19,465 |
$ 33,855 |
$ 34,929 |
$ 34,137 |
$ 27,263 |
|
|
|
|
|
|
Net Income |
$ 7,296 |
$ 16,239 |
$ 18,307 |
$ 19,088 |
$ 10,474 |
|
|
|
|
|
|
Diluted EPS |
$ 0.10 |
$ 0.23 |
$ 0.25 |
$ 0.27 |
$ 0.15 |
|
|
|
|
|
|
Non-GAAP Measures(1): |
|
|
|
|
|
|
|
|
|
|
|
Operating EBITDA |
$ 30,618 |
$ 45,664 |
$ 46,619 |
$ 46,147 |
$ 39,135 |
|
|
|
|
|
|
Operating EBITDA Margin |
8.5% |
9.4% |
9.5% |
8.7% |
8.9% |
|
|
|
|
|
|
Adjusted Earnings |
$ 8,337 |
$ 16,924 |
$ 18,630 |
$ 19,088 |
$ 13,788 |
|
|
|
|
|
|
Adjusted Diluted EPS |
$ 0.12 |
$ 0.24 |
$ 0.26 |
$ 0.27 |
$ 0.19 |
Notes: |
|
|
|
|
|
(1) See "Non-GAAP Measures"
below for explanation of the non-GAAP results included above. |
Dick Giromini, president and chief executive officer, stated,
"We are very pleased to deliver first quarter results that were the
best in the Company's history achieving a record first quarter
performance for net sales, gross profit and income from operations.
Momentum generated coming out of 2014 has accelerated with strong
operational execution throughout the business, combined with a
continuing strong demand environment."
Mr. Giromini continued, "New trailer shipments for the first
quarter were approximately 14,350, exceeding our previous guidance
of 12,000 to 13,000 trailers as a result of strong customer demand.
The year-over-year increases in total trailer demand now being
projected by both ACT Research and FTR, along with our record
backlog of $1.2 billion, further support the continuing strength in
the trailer industry and provides us even greater confidence that
2015 will prove to be our fourth consecutive year of record
performance. As such, we are now increasing our full-year shipment
and adjusted earnings guidance to 62,000 to 66,000 trailers and
$1.15 to $1.25 per diluted share, respectively."
First Quarter Business Segment Highlights
The table below is a summary of select segment operating and
financial results prior to the elimination of intersegment sales
for the first quarter of 2015 and 2014, respectively. A complete
disclosure of the results by individual segment is included in the
tables following this release.
(dollars in thousands) |
Commercial |
Diversified |
|
|
Trailer Products |
Products |
Retail |
Three months ended March 31, |
|
|
|
2015 |
|
|
|
New trailers shipped |
13,600 |
850 |
750 |
Net sales |
$ 314,504 |
$ 103,992 |
$ 43,140 |
Gross profit |
$ 29,633 |
$ 23,373 |
$ 4,853 |
Gross profit margin |
9.4% |
22.5% |
11.2% |
Income from operations |
$ 22,770 |
$ 10,611 |
$ 1,126 |
Income from operations margin |
7.2% |
10.2% |
2.6% |
|
|
|
|
2014 |
|
|
|
New trailers shipped |
9,250 |
800 |
800 |
Net sales |
$ 227,951 |
$ 108,053 |
$ 45,636 |
Gross profit |
$ 14,995 |
$ 25,754 |
$ 5,381 |
Gross profit margin |
6.6% |
23.8% |
11.8% |
Income from operations |
$ 8,760 |
$ 13,397 |
$ 1,050 |
Income from operations margin |
3.8% |
12.4% |
2.3% |
Commercial Trailer Products' net sales increased $87 million, or
38.0 percent, on shipments of 13,600 trailers, or 4,350 more
trailers than the prior year period. This increase in revenue was
primarily due to the 47.0 percent increase in trailer shipments
during the quarter, partially offset by a higher mix of pup
trailers and converter dollies which carry a lower selling price.
Driven by higher volumes, an improved pricing environment and
continued operational improvements, gross profit and gross profit
margin increased $14.6 million and 280 basis points, respectively,
as compared to the same period last year. Operating income
increased by $14.0 million to $22.8 million from the first quarter
last year.
Diversified Products' net sales decreased $4 million, or 3.8
percent, as increases in tank trailer shipments as compared to the
previous year period were more than offset by the reduced demand
for non-trailer truck mounted equipment and timing of shipments for
engineered products. Gross profit and operating income declined
$2.4 million and $2.8 million, respectively, compared to the prior
year period, primarily due to lower overall net sales and continued
pricing pressures on certain products. First quarter gross profit
margin of 22.5 percent represents the highest recorded for this
segment since the 23.8 percent gross profit margin recorded in the
first quarter of 2014.
Retail's net sales of $43 million decreased 5.5 percent compared
with the prior year period, primarily due to fewer retail locations
resulting from the transition of three West Coast branches to
independent dealers in May 2014 as demand for trailers and parts
and service remained healthy throughout the quarter. On a same
store basis, net sales increased $5 million, or 14.0 percent,
compared with the prior year period. Gross profit margin of 11.2
percent declined slightly from 11.8 percent in the prior year
period primarily due to product mix with a higher percentage of
lower-margined new trailer sales. Operating income of $1.1 million
remained consistent from the same period last year and increased
$0.3 million on a same store basis.
Non-GAAP Measures
In addition to disclosing financial results calculated in
accordance with United States generally accepted accounting
principles (GAAP), the financial information included in this
release contain non-GAAP financial measures, including Operating
EBITDA, Operating EBITDA margin, adjusted earnings and adjusted
earnings per diluted share.
These non-GAAP measures should not be considered a substitute
for, or superior to, financial measures and results calculated in
accordance with GAAP, including net income, and reconciliations to
GAAP financial statements should be carefully evaluated.
Operating EBITDA is defined as earnings before interest, taxes,
depreciation, amortization, stock-based compensation, and other
non-operating income and expense. Management believes Operating
EBITDA provides useful information to investors regarding our
results of operations. The Company provides this measure because we
believe it is useful for investors to understand our performance
period to period with the exclusion of the recurring and
non-recurring items identified above. Management believes the
presentation of Operating EBITDA, when combined with the primary
GAAP presentation of operating income, is beneficial to an
investor's understanding of the Company's operating performance. A
reconciliation of Operating EBITDA to net income is included in the
tables following this release.
Adjusted earnings and adjusted earnings per diluted share
reflect adjustments for non-recurring charges related losses
incurred in connection with the Company's extinguishment of debt
and revaluation of deferred income tax assets due to changes in
statutory tax rates. Management believes providing this measure and
excluding these items facilitate comparisons to the Company's prior
year periods and, when combined with the primary GAAP presentation
of net income and diluted net income per share, is beneficial to an
investor's understanding of the Company's performance. A
reconciliation of adjusted earnings and adjusted earnings per
diluted share to net income and diluted net income per share is
included in the tables following this release.
First Quarter 2015 Conference Call
Wabash National will conduct a conference call to review and
discuss its first quarter results on April 28, 2015, at 10:00 a.m.
EDT. Access to the live webcast will be available on the Company's
website at www.wabashnational.com. For those unable to participate
in the live webcast, the call will be archived at
www.wabashnational.com within three hours of the conclusion of the
live call and will remain available through July 21, 2015. Meeting
access also will be available via conference call at 888-771-4371,
participant code 39454984.
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 the Company's 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 include, among other things, statements regarding the
Company's outlook for trailer shipments, backlog, expectations
regarding demand levels for trailers, non-trailer truck mounted
equipment and our other engineered products, profitability and
earnings, opportunity to capture higher margin sales, and the
expectations regarding the Company's growth and diversification
strategies. These and the Company's other forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those implied
by the forward-looking statements. Without limitation, these risks
and uncertainties include the uncertain economic conditions
including the possibility that demand expectations may not result
in order increases for us, increased competition, reliance on
certain customers and corporate partnerships, risks of customer
pick-up delays, shortages and costs of raw materials, risks in
implementing and sustaining improvements in the Company's
manufacturing capacity and cost containment, dependence on industry
trends and timing and costs of indebtedness. Readers should review
and consider the various disclosures made by the Company in this
press release and in the Company's reports to its stockholders and
periodic reports on Forms 10-K and 10-Q.
|
|
|
WABASH NATIONAL
CORPORATION |
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS |
(Dollars in thousands, except
per share amounts) |
(Unaudited) |
|
|
|
|
Three Months Ended March
31, |
|
2015 |
2014 |
|
|
|
Net sales |
$ 437,597 |
$ 358,120 |
Cost of sales |
380,400 |
311,448 |
Gross profit |
57,197 |
46,672 |
|
|
|
General and administrative expenses |
18,051 |
14,472 |
Selling expenses |
6,569 |
7,264 |
Amortization of intangibles |
5,314 |
5,471 |
Income from operations |
27,263 |
19,465 |
|
|
|
Other income (expense): |
|
|
Interest expense |
(5,173) |
(5,717) |
Loss on debt
extinguishment |
(5,286) |
-- |
Other, net |
(96) |
32 |
Income before income taxes |
16,708 |
13,780 |
Income tax expense |
6,234 |
6,484 |
Net income |
$ 10,474 |
$ 7,296 |
Basic net income per share |
$ 0.15 |
$ 0.11 |
Diluted net income per share |
$ 0.15 |
$ 0.10 |
|
|
|
Comprehensive income |
|
|
Net income |
$ 10,474 |
$ 7,296 |
Foreign currency translation
adjustment |
(303) |
161 |
Net comprehensive income |
$ 10,171 |
$ 7,457 |
|
|
|
|
|
|
Basic net income per share: |
|
|
Net income applicable to common
stockholders |
$ 10,474 |
$ 7,296 |
Undistributed earnings
allocated to participating securities |
-- |
(61) |
Net income applicable to common
stockholders excluding amounts applicable to participating
securities |
$ 10,474 |
$ 7,235 |
Weighted average common shares
outstanding |
68,731 |
68,669 |
Basic net income per share |
$ 0.15 |
$ 0.11 |
|
|
|
Diluted net income per share: |
|
|
Net income applicable to common
stockholders |
$ 10,474 |
$ 7,296 |
Undistributed earnings
allocated to participating securities |
-- |
(61) |
Net income applicable to common
stockholders excluding amounts applicable to participating
securities |
$ 10,474 |
$ 7,235 |
|
|
|
Weighted average common shares
outstanding |
68,731 |
68,669 |
Dilutive shares from assumed
conversion of convertible senior notes |
1,729 |
1,591 |
Dilutive stock options and
restricted stock |
1,097 |
828 |
Diluted weighted average common
shares outstanding |
71,557 |
71,088 |
Diluted net income per
share |
$ 0.15 |
$ 0.10 |
|
|
|
|
|
|
|
|
|
|
|
|
WABASH NATIONAL
CORPORATION |
SEGMENTS AND RELATED
INFORMATION |
(Dollars in thousands) |
(Unaudited) |
|
|
|
|
|
|
|
Commercial |
Diversified |
|
Corporate and |
|
Three Months Ended March
31, |
Trailer
Products |
Products |
Retail |
Eliminations |
Consolidated |
2015 |
|
|
|
|
|
New trailers shipped |
13,600 |
850 |
750 |
(850) |
14,350 |
Used trailers shipped |
100 |
50 |
200 |
-- |
350 |
|
|
|
|
|
|
New Trailers |
$ 307,680 |
$ 54,017 |
$ 19,857 |
$ (20,283) |
$ 361,271 |
Used Trailers |
2,170 |
1,169 |
2,571 |
(327) |
5,583 |
Components, parts and service |
1,392 |
23,394 |
19,941 |
(2,911) |
41,816 |
Equipment and other |
3,262 |
25,412 |
771 |
(518) |
28,927 |
Total net external sales |
$ 314,504 |
$ 103,992 |
$ 43,140 |
$ (24,039) |
$ 437,597 |
|
|
|
|
|
|
Gross profit |
$ 29,633 |
$ 23,373 |
$ 4,853 |
$ (662) |
$ 57,197 |
Income (Loss) from operations |
$ 22,770 |
$ 10,611 |
$ 1,126 |
$ (7,244) |
$ 27,263 |
|
|
|
|
|
|
2014 |
|
|
|
|
|
New trailers shipped |
9,250 |
800 |
800 |
(900) |
9,950 |
Used trailers shipped |
1,700 |
50 |
400 |
-- |
2,150 |
|
|
|
|
|
|
New Trailers |
$ 213,436 |
$ 54,847 |
$ 20,271 |
$ (20,436) |
$ 268,118 |
Used Trailers |
11,248 |
1,178 |
3,639 |
-- |
16,065 |
Components, parts and service |
617 |
23,210 |
20,973 |
(3,102) |
41,698 |
Equipment and other |
2,650 |
28,818 |
753 |
18 |
32,239 |
Total net external sales |
$ 227,951 |
$ 108,053 |
$ 45,636 |
$ (23,520) |
$ 358,120 |
|
|
|
|
|
|
Gross profit |
$ 14,995 |
$ 25,754 |
$ 5,381 |
$ 542 |
$ 46,672 |
Income (Loss) from operations |
$ 8,760 |
$ 13,397 |
$ 1,050 |
$ (3,742) |
$ 19,465 |
|
|
|
|
|
|
WABASH NATIONAL
CORPORATION |
CONDENSED CONSOLIDATED
BALANCE SHEETS |
(Dollars in
thousands) |
|
|
|
|
March 31, |
December 31, |
|
2015 |
2014 |
|
(Unaudited) |
|
ASSETS |
Current assets |
|
|
Cash and cash equivalents |
$ 125,609 |
$ 146,113 |
Accounts receivable |
156,892 |
135,206 |
Inventories |
243,002 |
177,144 |
Deferred income taxes |
15,437 |
16,993 |
Prepaid expenses and other |
6,987 |
10,203 |
Total current assets |
$ 547,927 |
$ 485,659 |
|
|
|
Property, plant and equipment |
141,247 |
142,892 |
|
|
|
Deferred income taxes |
770 |
-- |
|
|
|
Goodwill |
149,690 |
149,603 |
|
|
|
Intangible assets |
131,641 |
137,100 |
|
|
|
Other assets |
13,697 |
13,397 |
|
$ 984,972 |
$ 928,651 |
|
|
|
LIABILITIES AND STOCKHOLDERS'
EQUITY |
Current liabilities |
|
|
Current portion of long-term
debt |
$ 2,429 |
$ 496 |
Current portion of capital
lease obligations |
1,399 |
1,458 |
Accounts payable |
142,907 |
96,213 |
Other accrued liabilities |
99,621 |
88,690 |
Total current liabilities |
$ 246,356 |
$ 186,857 |
|
|
|
Long-term debt |
326,629 |
324,777 |
|
|
|
Capital lease obligations |
5,457 |
5,796 |
|
|
|
Deferred income taxes |
3,205 |
2,349 |
|
|
|
Other noncurrent liabilities |
19,111 |
18,040 |
|
|
|
Commitments and contingencies |
|
|
|
|
|
Stockholders' equity |
384,214 |
390,832 |
|
$ 984,972 |
$ 928,651 |
|
|
|
|
|
|
WABASH NATIONAL
CORPORATION |
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS |
(Dollars in thousands) |
(Unaudited) |
|
|
|
|
Three Months Ended March
31, |
|
2015 |
2014 |
|
|
|
Cash flows from operating activities |
|
|
Net income |
$ 10,474 |
$ 7,296 |
Adjustments to reconcile net income to net cash provided by (used
in) operating activities |
|
Depreciation |
4,138 |
4,042 |
Amortization of
intangibles |
5,314 |
5,471 |
Deferred income taxes |
1,642 |
5,988 |
Loss on debt
extinguishment |
5,286 |
-- |
Stock-based compensation |
2,420 |
1,640 |
Accretion of debt discount |
1,185 |
1,195 |
Changes in operating assets and
liabilities |
|
|
Accounts receivable |
(21,686) |
1,494 |
Inventories |
(65,843) |
(78,742) |
Prepaid expenses and other |
3,216 |
(1,565) |
Accounts payable and accrued
liabilities |
57,625 |
8,815 |
Other, net |
458 |
311 |
Net cash provided by (used in)
operating activities |
$ 4,229 |
$ (44,055) |
|
|
|
Cash flows from investing activities |
|
|
Capital expenditures |
(2,975) |
(2,078) |
Net cash used in investing
activities |
$ (2,975) |
$ (2,078) |
|
|
|
Cash flows from financing activities |
|
|
Proceeds from exercise of stock
options |
719 |
1,517 |
Borrowings under revolving
credit facilities |
163 |
175 |
Payments under revolving credit
facilities |
(163) |
(175) |
Principal payments under
capital lease obligations |
(432) |
(603) |
Proceeds from issuance of term
loan credit facility |
192,845 |
-- |
Principal payments under term
loan credit facility |
(192,845) |
(693) |
Principal payments under
industrial revenue bond |
(122) |
(117) |
Debt issuance costs paid |
(1,994) |
-- |
Stock repurchase |
(19,929) |
(1,497) |
Net cash used in financing
activities |
$ (21,758) |
$ (1,393) |
|
|
|
Net decrease in cash and cash
equivalents |
$ (20,504) |
$ (47,526) |
Cash and cash equivalents at beginning of
period |
146,113 |
113,262 |
Cash and cash equivalents at end of
period |
$ 125,609 |
$ 65,736 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WABASH NATIONAL
CORPORATION |
RECONCILIATION OF GAAP
FINANCIAL MEASURES TO |
NON-GAAP FINANCIAL
MEASURES |
(Dollars in thousands, except
per share amounts) |
(Unaudited) |
|
|
|
|
|
|
|
Operating EBITDA: |
|
|
|
|
|
|
|
Three Months Ended March
31, |
|
|
|
|
|
2015 |
2014 |
|
|
|
|
Net income |
$ 10,474 |
$ 7,296 |
|
|
|
|
Income tax expense |
6,234 |
6,484 |
|
|
|
|
Interest expense |
5,173 |
5,717 |
|
|
|
|
Depreciation and amortization |
9,452 |
9,513 |
|
|
|
|
Stock-based compensation |
2,420 |
1,640 |
|
|
|
|
Other non-operating income (expense) |
5,382 |
(32) |
|
|
|
|
Operating EBITDA |
$ 39,135 |
$ 30,618 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
|
June 30, 2014 |
September 30, 2014 |
December 31, 2014 |
|
|
|
Net income |
$ 16,239 |
$ 18,307 |
$ 19,088 |
|
|
|
Income tax expense |
10,835 |
10,558 |
9,655 |
|
|
|
Interest expense |
5,733 |
5,454 |
5,261 |
|
|
|
Depreciation and amortization |
9,851 |
9,779 |
9,686 |
|
|
|
Stock-based compensation |
1,958 |
1,911 |
2,324 |
|
|
|
Other non-operating expense |
1,048 |
610 |
133 |
|
|
|
Operating EBITDA |
$ 45,664 |
$ 46,619 |
$ 46,147 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Earnings: |
|
|
|
|
|
|
|
Three Months Ended March
31, |
|
|
|
2015 |
2014 |
|
|
|
$ |
Per Share |
$ |
Per Share |
|
|
|
|
|
|
|
|
|
Net Income |
$ 10,474 |
$ 0.15 |
$ 7,296 |
$ 0.10 |
|
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
Revaluation of net deferred income tax
assets due to changes in statutory tax rates |
-- |
-- |
1,041 |
0.02 |
|
|
Loss on debt extinguishment,
net of taxes |
3,314 |
0.05 |
-- |
-- |
|
|
|
|
|
|
|
|
|
Adjusted earnings |
$ 13,788 |
$ 0.19 |
$ 8,337 |
$ 0.12 |
|
|
|
|
|
|
|
|
|
Weighted Average # of Diluted Shares O/S |
71,557 |
|
71,088 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
June 30, 2014 |
September 30, 2014 |
December 31, 2014 |
|
$ |
Per Share |
$ |
Per Share |
$ |
Per Share |
|
|
|
|
|
|
|
Net Income |
$ 16,239 |
$ 0.23 |
$ 18,307 |
$ 0.25 |
$ 19,088 |
$ 0.27 |
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
Loss on debt extinguishment,
net of taxes |
320 |
-- |
323 |
-- |
-- |
-- |
Loss on transitioning Retail
branch locations, net of taxes |
365 |
0.01 |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Adjusted earnings |
$ 16,924 |
$ 0.24 |
$ 18,630 |
$ 0.26 |
$ 19,088 |
$ 0.27 |
|
|
|
|
|
|
|
Weighted Average # of Diluted Shares O/S |
71,557 |
|
71,919 |
|
69,685 |
|
|
|
|
|
|
|
|
CONTACT: Media Contact:
Dana Stelsel
Corporate Communications Manager
(765) 771-5766
dana.stelsel@wabashnational.com
Investor Relations:
Mike Pettit
Vice President, Finance & Investor Relations
(765) 771-5581
michael.pettit@wabashnational.com
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