Wabash National Posts 3Q Profit on Higher Trailer Sales
Wabash National Corp. late Tuesday reported a third-quarter profit, turning around a loss in the same quarter last year, as trailer shipments hit their highest level in five years.
The trailer manufacturer earned $1.1 million, 2 cents a share, compared with a loss of $1.9 million, or 3 cents, a year ago.
Sales jumped to $336 million, from $171 million, and operating income was $2.31 million, compared with an operating loss of $4.2 million a year ago.
Total new trailers shipped jumped to 13,600 from 6,800 a year ago, Lafayette, Ind.-based Wabash said in a statement.
CEO Dick Giromini said the number of units shipped marked the highest for a quarter since 2006, though he cautioned on higher raw materials costs.
“We expect to see a similar shipment level for the fourth quarter with 2011 full-year new trailer shipments estimated to be approximately 47,000 to 48,000 units and supported by a backlog of $513 million as of September 30,” he said.
