Trailer maker Wabash National Corp. reported its second-quarter net income increased as trailer demand exceeded expectations.
Net income rose to $16.2 million, or 23 cents per share, from $14.1 million, or 20 cents, a year ago.
Revenue rose 18% to $486 million, and the number of trailers shipped rose to about 14,950, exceeding the company’s previous guidance of 13,500 to 14,500.
“We are again pleased with the results for the second quarter and the continued strong performance of the business, particularly in our commercial-trailer products segment,” CEO Dick Giromini said in a statement.
Giromini said that Wabash expects to ship 53,000 to 55,000 trailers this year, a 13% to 18% increase from the prior year.