WABASH NATIONAL Corp

Listed Company

WNCCIK 0000879526NYSEAcceleratedTruck TrailersDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.54B

Net Income

$211.45M

Total Assets

$1.17B

Equity

$367.36M

Shares Out

40.44M

Op. Cash Flow

$11.67M

Business

Wabash National Corporation designs, manufactures, and integrates physical and digital technologies to provide end-to-end transportation, logistics, and infrastructure solutions that optimize customers’ supply chains. The company offers dry and refrigerated van trailers, platform and tank trailers, truck bodies, structural composite panels, specialty food‑grade processing equipment, aftermarket parts and services, Trailers as a Service (TaaS)SM, and a digital marketplace (Wabash Marketplace/Wabash Parts). Wabash manages two reportable segments—Transportation Solutions and Parts & Services—covering manufacturing, upfitting, composites, engineered products, and aftermarket operations. It sells primarily across North America through factory direct accounts, an independent dealer network, service centers, and digital distribution channels.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,543	1,947	2,537	2,502	1,803
Cost of sales	1,473	1,682	2,038	2,179	1,607
Gross profit	70	265	498	323	196
General and administrative expenses	−287	581	147	—	—
Selling expenses	24	28	27	27	24
Amortization of intangible assets	11	12	13	15	23
Impairment and other, net	14	484,000	235,000	685,000	28
Income (loss) from operations	308	−356	312	167	34
Interest expense	−21	−20	−20	−21	—
Other, net	4	5	3	318,000	−9
Other expense, net	−17	−14	−16	−20	−32
Loss from unconsolidated entity	−7	−6	−803,000	0	0
Income (loss) before income tax expense	283	−377	295	146	1
Income tax expense (benefit)	72	−94	63	34	126,000
Net income (loss)	212	−283	232	113	1
Net income attributable to noncontrolling interest	188,000	996,000	603,000	512,000	0
Net income (loss) attributable to common stockholders	211	−284	231	112	1
Basic (in usd per share)	5.09	−6.4	4.92	2.31	0.02
Diluted (in usd per share)	5.07	−6.4	4.81	2.25	0.02
Basic (in shares)	42	44	47	49	51
Diluted (in shares)	42	44	48	50	52
Dividends declared per share (in usd per share)	0.32	0.32	0.32	0.32	0.32

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	32	115	179	58	72
Accounts receivable, net	120	144	183	256	177
Inventories, net	181	259	268	244	238
Prepaid expenses and other	86	76	51	35	44
Total current assets	419	594	681	593	530
Property, plant, and equipment, net	300	339	325	271	232
Deferred income taxes	9	95	0	—	—
Goodwill	191	188	188	188	188
Intangible assets, net	64	74	86	99	114
Investment in unconsolidated entities	7	7	2	0	—
Other assets	181	113	80	52	42
Total assets	1,171	1,412	1,363	1,204	1,107
Current portion of long-term debt	0	0	0	0	0
Accounts payable	146	147	157	189	174
Other accrued liabilities	157	162	196	158	115
Total current liabilities	302	308	352	347	289
Long-term debt	443	397	396	396	428
Other non-current liabilities	57	516	47	34	28
Total liabilities	803	1,222	813	805	782
Commitments and contingencies	—	—	—	—	—
Noncontrolling interest	1	996,000	603,000	512,000	0
Common stock, $0.01 par value: 200,000,000 shares authorized; 40,436,437 and 42,882,308 shares outstanding, respectively	787,000	781,000	774,000	766,000	—
Additional paid-in capital	701	689	678	666	654
Retained earnings	304	106	404	188	92
Accumulated other comprehensive loss	−398,000	−3	−428,000	−882,000	859,000
Treasury stock, at cost: 38,263,966 and 35,253,489 common shares, respectively	−637	−604	−533	−456	−422
Total Wabash National Corporation stockholders' equity	367	189	549	398	326
Total liabilities, noncontrolling interest, and equity	1,171	1,412	1,363	1,204	1,107

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	48	45	33	32	26
Net loss (gain) on sale of property, plant and equipment and business divestiture	93,000	−493,000	235,000	−635,000	−2
Deferred income taxes	86	−112	−13	−8	−8
Stock-based compensation	12	11	12	10	7
Non-cash interest expense	1	962,000	946,000	868,000	1
Impairment	13	994,000	0	1	29
Accounts receivable	24	39	73	−79	−81
Inventories	78	9	−24	−6	−75
Prepaid expenses and other	−7	4	−11	1	9
Accounts payable and accrued liabilities	−6	−69	6	46	55
Other, net	−466	453	−2	−1	−2
Net cash provided by operating activities	12	117	320	124	−7
Cash payments for capital expenditures	−25	−72	−98	−57	−49
Expenditures for revenue generating assets	−48	−7	−6	0	0
Proceeds from sale of assets	138,000	4	154,000	—	—
Acquisitions, net of cash acquired	−2	0	—	—	—
Notes receivable issued to unconsolidated entity	−19	−20	−2	0	0
Net cash used in investing activities	−93	−95	−106	−55	−27
Proceeds from exercise of stock options	11,000	28,000	155,000	2	2
Dividends paid	−14	−15	−16	−16	−16
Borrowings under revolving credit facilities	127	884,000	104	98	51
Payments under revolving credit facilities	−82	−884,000	−104	−131	−18
Debt issuance costs paid	−1,000	−5,000	−117,000	−1	−9
Stock repurchases	−34	−71	−76	−34	−67
Distribution to noncontrolling interest	—	−603,000	−512,000	0	0
Net cash used in financing activities	−3	−86	−93	−82	−111
Net (decrease) increase in cash and cash equivalents	−84	−64	121	−14	−146
Cash paid for interest	20	19	19	20	22
Net cash (refunds) payments for income taxes	−1	30	83	18	−467,000
Period end balance of payables for property, plant, and equipment	2	6	12	19	4

Filings

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