Wabash National Corp. has recently released its latest 10-Q report. Wabash makes engineered transportation and logistics equipment in the U.S., with operations split between Transportation Solutions and Parts & Services. Its product mix includes trailers, truck bodies, tank trailers, aftermarket parts, repair services, and process systems, along with related digital and service offerings.
For the second quarter of 2026, Wabash reported net sales of $417.2 million, down 9.1% from $458.8 million a year earlier. Transportation Solutions sales fell 11.4% to $354.7 million, while Parts & Services sales rose 6.1% to $63.4 million. New trailer shipments increased 3.1% to 8,292 units, but truck body shipments dropped 56.7% to 1,380 units.
Gross profit declined to $15.3 million from $41.4 million, and gross margin narrowed to 3.7% from 9.0%. Transportation Solutions gross profit fell to $6.0 million from $28.6 million, while Parts & Services gross profit decreased to $9.3 million from $12.8 million. Cost of sales declined 3.7% to $401.9 million, but that reduction was not enough to offset the drop in revenue.
General and administrative expenses fell 12.5% from the prior year period, helped by lower professional fees and employee-related costs. Selling expenses were $6.3 million, essentially unchanged year over year. Amortization of intangibles was $2.7 million, and the company recorded a $0.8 million gain in impairment and other, net.
Interest expense increased to $6.7 million from $5.3 million, reflecting a higher average outstanding balance under the revolving credit agreement. Wabash recorded an income tax benefit of $8.9 million, compared with $2.7 million a year earlier, with the effective tax rate rising to 28.1% from 21.9%.
For the first six months of 2026, net sales were $720.5 million, down 14.2% from $839.7 million. Transportation Solutions sales declined 19.0% to $604.8 million, while Parts & Services sales increased 5.2% to $117.5 million. Trailer shipments for the half-year were 13,670 units, down 1.1%, and truck body shipments fell 53.0% to 2,907 units. The market has reacted to these announcements by moving the company's shares -4.36% to a price of $12.73. For the full picture, make sure to review WABASH NATIONAL Corp's 10-Q report.
