Wabash reports Q2 EPS 64c vs. $1.54 last year

Reports Q2 revenue $551M vs. $686.62M last year. “While the demand environment has incrementally weakened during the first half of 2024, our team has executed well, as shown by Q2 EPS generation that exceeded our prior outlook range,” said CEO Brent Yeagy. “We are in the process of demonstrating a new level of stability within our through-the-cycle financial performance thanks to the enhanced diversity of our first-to-final mile portfolio of transportation solutions and our complementary parts and services business. Our EPS outlook midpoint of $1.55 falls squarely in the middle of the financial performance of peak years like 2018 or 2019, reflecting the resilience we have built within our portfolio and the structural improvements we’ve made to our base business. With greater information on customers’ capital expenditure plans, we feel it’s appropriate to reduce our full year guidance…Furthermore, as we look to 2025, we anticipate that there is a wide range of potential market outcomes that will allow Wabash to generate year-on-year EPS growth given the strength we anticipate in TaaS specifically, Parts & Services more broadly, and our truck body business. Wabash has never been better positioned to capitalize on the next period of freight expansion. We are focused on continuing our progress toward achieving outsized strategic growth that is both more resilient and more profitable.”