Wabash National Corporation (WNC)

In January 2026, Wabash announced it would webcast its fourth-quarter 2025 earnings conference call and planned to idle facilities in Little Falls, Minnesota, and Goshen, Indiana, leading to job reductions and estimated charges of $15 million to $20 million, attributed to revenue challenges; the ex-dividend date for its quarterly dividend was also in January. In November 2025, Wabash announced a quarterly dividend, but S&P Global Ratings downgraded Wabash National to a 'B' rating with a negative outlook, citing weaker demand, delayed capital spending by customers, and an expectation of negative EBITDA for 2025; executives cautioned that soft demand was deepening, leading to a lowered full-year revenue outlook. In October 2025, Wabash reported its Q3 2025 results, with an earnings per share (EPS) loss of -$0.51, missing analysts' expectations, and revenue of $382 million, also below forecasts; the company introduced "Trailers as a Service". In July 2025, Wabash webcasted its Q2 2025 earnings conference call, with the stock declining 5.11% on the day the news was published; for Q2 2025, the company reported an EPS of -$0.15, which beat estimates.

Wabash National's business has historically experienced cyclicality, which the company is actively working to mitigate through its "Trailers as a Service (TaaS)" offering. In 2025, Wabash faced a slowdown in activity and weaker equipment demand as customers delayed purchasing decisions due to tariff uncertainty, leading to an operating loss in its transportation solutions segment in Q1 2025. The truck body segment also felt the effects of an ongoing freight recession in Q3 2025, with large fleets reducing orders amid a sluggish housing market and wavering consumer confidence. Consequently, Q4 2025 was expected to be the weakest quarter of the year due to deepening soft demand. Despite these challenges, the company's backlog was approximately $1.2 billion as of March 31, 2025.

Wabash National Corp. is a diversified industrial manufacturing company providing connected solutions for the transportation, logistics, and distribution industries, operating through Transportation Solutions and Parts & Services segments. Its primary industry is Road, with additional involvement in Automotive and Industrials, specifically within the Truck Trailer Manufacturing and Truck, Trailer & Motor Home Manufacturing industries. The company's major products include a wide range of trailers and truck bodies, along with related components and services, sold under various brand names.

Wabash National Corp. is headquartered in Lafayette, Indiana, with manufacturing plants in several U.S. states and Mexico. It operates a network of Parts & Services centers and dealerships throughout the United States and North America. Historically, international sales have accounted for less than 10% of net sales.

Wabash National has received positive recognition for its workplace and innovation, including being honored among Newsweek's inaugural list of "America's Most Admired Workplaces 2025". The company showcased its industry-leading innovation and expanded services at TMC 2025, highlighting its transformation and new products like the 2026 Wabash DuraPlate Dry Van, which features a standard backup camera, and its expanded "Trailers as a Service (TaaS)" offering. The company further enhanced its TaaS offering with the acquisition of TrailerHawk.ai. Strategic agreements, such as a 10-year deal with Ryerson and a multi-year supply agreement with J.B. Hunt Transport Inc., also contributed to its reputation.

Institutional investors are the primary holders of Wabash National Corporation stock, accounting for approximately 97.05% as of August 1, 2025, and 70.1% according to another source. Major institutional investors include BlackRock, Inc., Vanguard Group Inc., State Street Corp., D.E. Shaw & Co., Inc., and Mirae Asset Global ETFs Holdings Ltd. Insider ownership was approximately 3.94% as of July 15, 2025, with Jeffrey L. Et Al Gendell noted as a significant individual shareholder. Individuals hold about 4.5% of the shares.