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Wabash Reports Higher 2Q Earnings, Trailer Shipments
Wabash National Corp. said second-quarter earnings jumped 76% as trailer shipments increased from a year ago.
The Lafayette, Indiana-based manufacturer’s net income rose to $28.6 million, or 41 cents per share, from $16.2 million, or 23 cents, a year ago. Revenue rose 6% to $515 million.
The company said operating income climbed 24% to a quarterly record of $42.1 million.
“Through the first six months of 2015, we have continued the momentum generated last year with strong operational execution and an accelerated pace of improvement from our record-breaking 2014,” CEO Dick Giromini said in the company’s report.
The trailer maker’s backlog stood at $1.1 billion, he said.
Wabash said it shipped about 16,900 new trailers during the quarter, up from 14,950 a year ago and at the high end of its guidance of 16,000 to 17,000 units.
“The year-over-year increase in total trailer demand . . . provides us even greater confidence that 2015 will prove to be our fourth consecutive year of record performance,” Giromini said.
Wabash boosted its full-year shipment guidance to a range of 63,000 to 66,000 trailers, up from its previous projection of 62,000 to 66,000 units. The company shipped 57,350 trailers in 2014.
