Wabash National Reports $1.95B Revenue for 2024

By Bobby Samwell • Wednesday, January 29 10:27 • Permanent Link

Wabash (NYSE: WNC) has released its fourth-quarter and full-year 2024 results, revealing a quarterly revenue of $416.8 million, operating income of $3.6 million, and a net loss attributable to common stockholders of $1.0 million, or $(0.02) per diluted share. For the full year 2024, the company reported revenue of $1.95 billion, with an operating loss of $356.1 million. On a non-GAAP adjusted basis, full-year net income was $54.7 million, or $1.22 per diluted share.

Adjusted EBITDA for the fourth quarter of 2024 was $21.1 million, equivalent to 5.1% of net sales, while full-year adjusted EBITDA stood at $162.7 million, representing 8.4% of net sales. The company's total backlog as of December 31, 2024, was approximately $1.2 billion, exhibiting an increase compared to the prior quarter. Backlog expected to be shipped within the following 12 months was $813 million as of December 31, 2024, a greater than $100 million increase from the prior quarter.

The company also provided its outlook for the full year ending December 31, 2025, with sales projected in the range of $1.9 billion to $2.1 billion and earnings per diluted share of $0.85 to $1.05.

Wabash's transportation solutions' net sales for the fourth quarter of 2024 were $370.5 million, representing a decrease of 32.3% compared to the prior year quarter. Operating income for this segment was $17.9 million, or 4.8% of sales. The parts & services segment witnessed a decrease of 12.0% in net sales compared to the prior year quarter, with operating income of $4.5 million, or 9.2% of sales during the quarter.

These results indicate a challenging year for Wabash in 2024, as it faced an operating loss for the full year. However, the company remains optimistic about its 2025 outlook, expecting a transitional year that paves the way for improving market conditions and providing an opportunity for continued advancement.

For more details, Wabash will be discussing its results during its quarterly investor conference call on Wednesday, January 29, 2025, beginning at 12:00 p.m. EST. Following these announcements, the company's shares moved 1.9%, and are now trading at a price of $15.94. Check out the company's full 8-K submission here.

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