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

Wabash National (NYSE:WNC) released its quarterly earnings results on Thursday. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.17), FiscalAI reports. The company had revenue of $476.41 million during the quarter, compared to the consensus estimate of $453.74 million. Wabash National had a negative net margin of 9.13% and a negative return on equity of 42.42%. The business’s revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.51) EPS.

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 Down 11.6%

Shares of NYSE:WNC traded down $1.54 during midday trading on Friday, reaching $11.72. The company’s stock had a trading volume of 1,894,208 shares, compared to its average volume of 780,122. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.99. The firm has a 50 day moving average of $12.89 and a 200-day moving average of $10.89. The firm has a market capitalization of $477.44 million, a P/E ratio of -3.44 and a beta of 1.48. Wabash National has a 12-month low of $6.63 and a 12-month high of $14.55.

Wabash National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Thursday, October 8th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, October 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.7%. Wabash National’s dividend payout ratio is currently -9.38%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WNC. Citigroup reaffirmed a “market outperform” rating on shares of Wabash National in a research note on Tuesday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Wabash National in a research note on Wednesday, August 12th. DA Davidson restated a “buy” rating and issued a $20.00 price objective on shares of Wabash National in a report on Tuesday, September 22nd. National Bank Financial set a $25.00 price objective on Wabash National in a research report on Tuesday, October 20th. Finally, Citizens Jmp started coverage on Wabash National in a research report on Wednesday, July 15th. They set an “outperform” rating and a $25.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Wabash National currently has an average rating of “Hold” and a consensus price target of $23.33.

Wabash National News Roundup

Here are the key news stories impacting Wabash National this week:

• Positive Sentiment: Third-quarter revenue reached $476.4 million, exceeding analysts’ $453.7 million estimate and increasing 24.8% year over year. Wabash Announces Third Quarter 2026 Results
• Positive Sentiment: DA Davidson reduced its price target from $20 to $18 but retained a “buy” rating, indicating continued confidence in Wabash’s longer-term prospects and substantial potential upside from recent trading levels. DA Davidson Wabash Price Target Update
• Neutral Sentiment: Management’s third-quarter earnings call and presentation focused on operating performance, market conditions and the company’s outlook, giving investors additional context as Wabash works through near-term earnings pressure. Wabash National Q3 2026 Earnings Call Transcript
• Negative Sentiment: Wabash reported a third-quarter loss of $0.63 per share, missing the consensus estimate of a $0.46 loss by $0.17 and worsening from a $0.51 loss in the prior-year quarter. The result implies continuing profitability challenges despite the revenue beat. Wabash National Reports Wider Than Expected Q3 2026 Loss
• Negative Sentiment: The company also issued fourth-quarter guidance alongside the loss report, contributing to investor concern about the near-term earnings trajectory. Wabash posted a negative net margin and negative return on equity, reinforcing the pressure on its valuation. Wabash National Slides to Q3 Loss, Guides Q4

Wabash National Company Profile

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.