Wabash reported second-quarter 2026 revenue of $417.2 million, down 9.1% from $458.9 million a year earlier, as weaker transportation solutions sales outweighed growth in parts and services.
Net sales in the transportation solutions segment fell 11.4% to $354.7 million from $400.2 million. That segment posted a $13.9 million operating loss, compared with $12.5 million of operating income in the prior-year quarter. Gross profit in the unit dropped to $6.0 million from $28.6 million, and gross margin narrowed to 1.7% from 7.1%.
Parts and services moved in the opposite direction. Revenue rose 6.1% to $63.4 million from $59.7 million, while operating income increased to $6.0 million from $9.1 million? Actually, operating income slipped to $6.0 million from $9.1 million, but the segment still stayed profitable. Gross profit declined to $9.3 million from $12.8 million, and gross margin fell to 14.7% from 21.4%.
Shipment volume was mixed. Trailer shipments rose to 8,292 from 8,043 a year ago. Truck body shipments dropped sharply to 1,380 from 3,188.
At the company level, gross margin was 3.7% on $15 million of gross profit. Operating loss widened to $25 million from a profit in the prior-year period, and diluted EPS was $(0.56) versus a smaller loss a year earlier. On an adjusted basis, operating loss was $23.5 million and adjusted EPS was $(0.53).
Backlog ended the quarter at $956 million, up $119 million from the first quarter and 14% higher sequentially. That backlog level was also up from roughly $837 million at the end of the prior quarter.
For the third quarter, Wabash guided to revenue of $440 million to $460 million, with a midpoint of $450 million, and adjusted EPS of $(0.50) to $(0.40), with a midpoint of $(0.45). As a result of these announcements, the company's shares have moved -7.21% on the market, and are now trading at a price of $12.35. For the full picture, make sure to review WABASH NATIONAL Corp's 8-K report.
