Wabash National Files Q2 2024 10-Q

TL;DR

Wabash National's Q2 2024 10-Q is in: financials updated, check for trailer market trends.

AI Summary

Wabash National Corp. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity. Specific financial figures and operational details for the second quarter of 2024 are presented, reflecting the company's ongoing business activities in the truck trailer manufacturing sector.

Why It Matters

This filing provides investors and analysts with the latest financial data for Wabash National, crucial for understanding the company's performance in the current economic climate and its outlook in the transportation equipment sector.

Risk Assessment

Risk Level: medium — The company operates in the cyclical manufacturing sector, which is subject to economic fluctuations and supply chain disruptions.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20240724 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
• 12/31 — Fiscal Year End (Specifies the end date of the company's fiscal year.)

Key Players & Entities

• WABASH NATIONAL Corp (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period for the 10-Q
• 20240724 (date) — Date the 10-Q was filed
• LAFAYETTE (location) — City where Wabash National Corp. is headquartered
• 3715 (number) — Standard Industrial Classification code for Truck Trailers

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value WNC New York Stock Exchange

Filing Documents

• wnc-20240630.htm (10-Q) — 1526KB
• wnc-20240630xex311.htm (EX-31.1) — 9KB
• wnc-20240630xex312.htm (EX-31.2) — 9KB
• wnc-20240630xex321.htm (EX-32.1) — 6KB
• wnc-20240630_g1.jpg (GRAPHIC) — 8KB
• 0000879526-24-000033.txt ( ) — 8781KB
• wnc-20240630.xsd (EX-101.SCH) — 51KB
• wnc-20240630_cal.xml (EX-101.CAL) — 101KB
• wnc-20240630_def.xml (EX-101.DEF) — 189KB
• wnc-20240630_lab.xml (EX-101.LAB) — 639KB
• wnc-20240630_pre.xml (EX-101.PRE) — 458KB
• wnc-20240630_htm.xml (XML) — 1609KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets at June 30 , 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended June 30 , 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30 , 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30 , 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 44

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 5. Other Information 44 Item 6. Exhibits 45

Signatures

Signatures 46 2 Table of Contents

- FINANCIAL INFORMATION

Part I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements WABASH NATIONAL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands) June 30, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 77,285 $ 179,271 Accounts receivable, net 243,248 182,990 Inventories, net 272,926 267,635 Prepaid expenses and other 50,506 51,457 Total current assets 643,965 681,353 Property, plant, and equipment, net 331,744 325,444 Goodwill 188,423 188,409 Intangible assets, net 80,269 86,418 Investment in unconsolidated entity — 1,647 Other assets 94,911 79,543 Total assets $ 1,339,312 $ 1,362,814 Liabilities and Stockholders' Equity Current liabilities: Current portion of long-term debt $ — $ — Accounts payable 175,483 156,608 Other accrued liabilities 147,873 195,601 Total current liabilities 323,356 352,209 Long-term debt 396,800 396,465 Deferred income taxes 13,219 17,013 Other non-current liabilities 55,146 47,028 Total liabilities 788,521 812,715 Commitments and contingencies Noncontrolling interest 366 603 Wabash National Corporation stockholders' equity: Common stock 200,000,000 shares authorized, $ 0.01 par value, 44,225,215 and 45,393,260 shares outstanding, respectively 781 774 Additional paid-in capital 684,504 677,886 Retained earnings 443,734 403,923 Accumulated other comprehensive losses ( 2,101 ) ( 428 ) Treasury stock at cost, 33,904,416 and 32,128,755 common shares, respectively ( 576,493 ) ( 532,659 ) Total Wabash National Corporation stockholders' equity 550,425 549,496 Total liabilities, noncontrolling interest, and equity $ 1,339,312 $ 1,362,814 The accompanying notes are an integral part of these Condensed Consolidated Statements. 3 Table of Contents WABASH NATIONAL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited – dollars in thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales $ 550,610 $ 686,620 $

View Full Filing

View this 10-Q filing on SEC EDGAR