Wabash’s Third Quarter Income Declines
Wabash National Corp. said its third-quarter income declined, but the trailer manufacturer expects a “strong demand” in the fourth quarter.
Net income declined to $16.2 million, or 23 cents a share, from $18.4 million, or 27 cents, a year ago, Wabash reported Oct. 29.
Net sales of Wabash’s commercial-trailer products increased 4.4% to $293.5 million, and the company said average selling price rose 0.9%, or $200.
Trailer operating income rose about $2.7 million to $17.3 million on improved pricing.
Wabash shipped about 12,600 new trailers in the quarter, consistent with its guidance, CEO Dick Giromini said in a statement.
“We believe the demand environment for trailers remains strong as fleet age, customer profitability, used-trailer values, regulatory compliance and access to financing all support continued demand for new trailers,” Giromini said.
