Wabash National Corp (NYSE:WNC) announced its Q3 2023 financial results, with a reported revenue of $633 million, a 3.4% decrease from the same quarter in the previous year. The company's operating income stood at $78 million, and an EPS of $1.16 was registered. A gross profit of $123 million was driven by a strong product mix and high performance in parts and services, tanks, and truck bodies sectors.
The Transportation Solutions segment reported net sales of $582.9 million, marking a decrease of 4.7%. However, the Parts & Services segment saw net sales reach $56.4 million, reflecting a rise of 20.8%. As of September 30, 2023, Wabash's total assets were valued at $1.39 billion and total liabilities at $870.17 million with net cash from operating activities for the nine months ended September 30, 2023, being $204.6 million.
The total backlog as of September end was around $1.9 billion. For the full year of 2023, Wabash has projected a revenue of about $2.6 billion and an EPS range of $4.60 to $4.70. CEO Brent Yeagy expressed expectations for significant free cash flow generation despite substantial investments in operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.