Trailer maker Wabash National Corp. reported its first-quarter net income jumped 27% as demand for new trailers strengthened.
Net income rose to $7.3 million, or 10 cents per share, from $5.7 million, or 8 cents, a year ago.
Revenue rose 10% to $358.1 million, and the number of trailers shipped rose to 9,900, from 8,600.
“We generated strong growth and healthy margins across each of our three operating segments, which gives us confidence in our business as we look to the remainder of 2014,” CEO Dick Giromini said in a statement.
“We were encouraged by the overall strength of the demand in the first quarter taking into account the difficulties most of our customers faced due to the extreme weather conditions,” he added.
Giromini said that Wabash continues to expect shipping 47,000 to 50,000 trailers this year, a forecast buoyed by recent reports of a stronger equipment market.