WABASH NATIONAL Corp SEC 10-Q Report

WABASH NATIONAL Corp, a leading manufacturer of trailers and transportation equipment, has released its Form 10-Q report for the second quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational highlights, reflecting both challenges and strategic initiatives aimed at future growth.

Financial Highlights

Net sales: $839.7 million, reflecting a decrease from $1,065.9 million in the same period last year, primarily due to lower sales in the Transportation Solutions segment.

Gross profit: $60.4 million, down from $166.1 million in the prior year, indicating a reduction in profitability due to increased cost of sales.

Income from operations: $309.8 million, a significant increase from $73.3 million in the previous year, largely driven by a substantial reduction in general and administrative expenses.

Net (loss) income: $221.6 million, compared to $47.5 million in the prior year, highlighting improved net profitability despite lower sales.

Net (loss) income attributable to common stockholders per share: $5.24, up from $1.04 in the previous year, reflecting the impact of higher net income on earnings per share.

Business Highlights

Revenue Segments: The Transportation Solutions segment reported net sales of $400.2 million, while the Parts & Services segment reported $59.7 million for the three months ended June 30, 2025. The Transportation Solutions segment primarily includes sales of new trailers and equipment, while the Parts & Services segment includes components, parts, and services.

Sales Units: The company sold a significant number of new trailers, contributing to 68.0% of the total net sales for the three months ended June 30, 2025. Used trailers accounted for 0.2% of sales, while components, parts, and services made up 7.1% of sales.

New Product Launches: The company continues to innovate with its EcoNex™ products, part of the Acutherm™ portfolio, which are designed for intelligent thermal management and are included in the Transportation Solutions segment.

Future Outlook: The company is focused on expanding its Parts & Services offerings, which is a key strategic initiative. This includes the development of digital marketplaces and Trailers as a Service (TaaS)SM initiatives, which aim to combine market-leading trailer products with emerging capabilities like parts distribution and a growing maintenance and repair network.

Segment Performance: The Parts & Services segment showed a strong performance with a focus on expanding its ecosystem through partnerships like Linq Venture Holdings LLC and Wabash Parts LLC, which are aimed at enhancing digital and distribution capabilities.

Operational Strategy: The company is leveraging its acquisition of Trailerhawk.AI, LLC to enhance its digital solutions and recurring revenue initiatives, particularly within the Parts & Services segment.

SEC Filing: WABASH NATIONAL Corp [ WNC ] - 10-Q - Jul. 25, 2025