Wabash National’s 3Q Earnings Fall
Trailer maker Wabash National Corp. said its third-quarter profit fell to $3.8 million or 12 cents a share, from $5 million or 15 cents a year ago.
Net sales fell to $291 million from $362.3 million a year ago, Wabash said late Wednesday.
New trailer sales totaled 12,100 units, down 3% from the second quarter, and new trailer production fell 18%, Wabash said.
“A continuing soft freight market, related in part to the ongoing residential construction slump, is adversely impacting trucking companies' profitability and their need for new equipment,” Chief Executive Officer Dick Giromini said in statement.
He said Wabash expects its new trailer sales for the year to be 46,000 units, down from an earlier estimate of 48,000.
