Wabash National Corp. (WNC) Misses Q2 EPS by 2c, Sales Best

Wabash National Corp. (NYSE: WNC) reported Q2 EPS of $0.24, $0.02 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $486 million versus the consensus estimate of $476.45 million.

Dick Giromini, president and chief executive officer, stated, "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. We continue to set new quarterly records for operating performance, as evidenced by our revenue, operating income and operating EBITDA results during the second quarter. These achievements substantiate the transformative nature of our growth and diversification initiatives."

Mr. Giromini continued, "New trailer shipments for the second quarter were approximately 14,950, exceeding our previous guidance of 13,500 to 14,500 trailers, as customer pickups gained significant momentum. We anticipate continued strength in customer demand throughout the remainder of 2014, as total new trailer shipments for the full year are now expected to be in the range of 53,000 to 55,000 units, representing increases of approximately 13 percent to 18 percent from the prior year. Our backlog grew to a cyclical high of $842 million as of June 30, 2014, an increase of $162 million, or 24 percent, from the prior year period. Additionally, current industry forecasts support strong demand levels with projections well above replacement demand and exceeding previous year levels, setting up the potential for 2014 to exceed the record performance achieved last year."

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

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