Wabash National Corp. (NYSE:WNC) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Wabash National Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 10% to $0.09 in the quarter versus EPS of $0.10 in the year-earlier quarter.
Revenue: Rose 16.75% to $324.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Wabash National Corp. reported adjusted EPS income of $0.09 per share. By that measure, the company missed the mean analyst estimate of $0.09. It missed the average revenue estimate of $336.09 million.
Quoting Management: Dick Giromini, president and chief executive officer, stated, “We are pleased with our first quarter performance, the continued execution of our long-term strategic plan, and the progress we have made in transforming Wabash National into a diversified industrial manufacturer. First quarter results demonstrate the benefit of our diversification strategy including a more balanced contribution from our three segments to both the top-line and bottom-line. We also continued to demonstrate our commitment to protecting and enhancing the margins in the Commercial Trailer Products segment while extending our reach in the higher margin Diversified Products segment. This was reflected in the significant margin improvements across all three segments compared to the prior year period. In addition, we strengthened the diversified product portfolio by expanding our tank trailer product offering through our acquisition of certain Beall assets, which was completed during the quarter.”
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