Wabash National (WNC) Tops Q4 EPS by 8c, Revenues Beat; Offers FY21 Revenue Guidance Above Consensus, Provides FY21 EPS Outlook

Wabash National (NYSE: WNC) reported Q4 EPS of $0.10, $0.08 better than the analyst estimate of $0.02. Revenue for the quarter came in at $404.1 million versus the consensus estimate of $365.03 million.

• Strengthening demand drives fourth quarter revenue of $404.1 million
• Fourth quarter operating income of $10.0 million, decremental margin of 12 percent
• Fourth quarter earnings per diluted share of $0.10
• Backlog shows $500M sequential increase to $1.5 billion

“While we're all looking forward to 2021 with optimism, I want to make sure we take time to highlight Wabash National's resilient financial performance during challenging market conditions in 2020,” explained Brent Yeagy, president and chief executive officer. “Full year decremental margin of 14%, free cash flow generation of $104 million and maintaining our dividend through the cycle all show meaningful improvement in the company's financial performance.”

GUIDANCE:

Wabash National sees FY2021 EPS of $0.70-$0.80, versus the consensus of $0.75. Wabash National sees FY2021 revenue of $1.9-2 billion, versus the consensus of $1.78 billion.

For the full year ending December 31, 2021, the company has issued guidance of $1.9 billion to $2.0 billion in sales and an earnings per diluted share midpoint of $0.75 with a range of $0.70 to $0.80.

Mr. Yeagy continued, “Conditions strengthened throughout 2020 in many of our customers' end markets and equipment demand is poised to improve in 2021. While we are focused in the near-term on executing on this cyclical upturn, we also continue to work on strategic initiatives to profitably grow the company in the long-term. Bringing new technologies to market combined with our focus on building out adjacent revenue streams will provide us with opportunities for growth beyond what the cycle gives us.”

For earnings history and earnings-related data on Wabash National (WNC) click here.

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