Wabash National Corp. Files Q3 2024 10-Q

TL;DR

Wabash National's Q3 2024 10-Q is in. Check financials.

AI Summary

Wabash National Corp. reported its Q3 2024 results for the period ending September 30, 2024. The company's fiscal year ends on December 31st. Brent L. Yeagy is the President and CEO. Key financial data points and segment information are included in the filing.

Why It Matters

This filing provides investors with an update on Wabash National's financial performance and operational status for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Numbers

• 145,813 — shares (Number of shares held by CEO)

Key Players & Entities

• Wabash National Corp. (company) — Filer of the 10-Q
• Brent L. Yeagy (person) — President, Chief Executive Officer
• 20240930 (date) — End of the reporting period
• 20241024 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• wnc-20240930.htm (10-Q) — 1632KB
• wnc-transitionagreementsmi.htm (EX-10.1) — 40KB
• wnc-20240930xex311.htm (EX-31.1) — 9KB
• wnc-20240930xex312.htm (EX-31.2) — 9KB
• wnc-20240930xex321.htm (EX-32.1) — 6KB
• image_0.jpg (GRAPHIC) — 8KB
• image_1.jpg (GRAPHIC) — 5KB
• wnc-20240930_g1.jpg (GRAPHIC) — 8KB
• 0000879526-24-000049.txt ( ) — 9238KB
• wnc-20240930.xsd (EX-101.SCH) — 53KB
• wnc-20240930_cal.xml (EX-101.CAL) — 103KB
• wnc-20240930_def.xml (EX-101.DEF) — 193KB
• wnc-20240930_lab.xml (EX-101.LAB) — 653KB
• wnc-20240930_pre.xml (EX-101.PRE) — 465KB
• wnc-20240930_htm.xml (XML) — 1717KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive ( Loss) Income for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 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 32 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 45 Item 4.

Controls and Procedures

Controls and Procedures 46

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 46 Item 1A.

Risk Factors

Risk Factors 46 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 47 Item 5. Other Information 47 Item 6. Exhibits 48

Signatures

Signatures 49 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) September 30, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 81,842 $ 179,271 Accounts receivable, net 238,657 182,990 Inventories, net 260,599 267,635 Prepaid expenses and other 58,388 51,457 Total current assets 639,486 681,353 Property, plant, and equipment, net 342,578 325,444 Goodwill 188,436 188,409 Deferred income tax asset 98,003 — Intangible assets, net 77,357 86,418 Investment in unconsolidated entity — 1,647 Other assets 109,476 79,543 Total assets $ 1,455,336 $ 1,362,814 Liabilities and Stockholders' Equity Current liabilities: Current portion of long-term debt $ — $ — Accounts payable 187,626 156,608 Other accrued liabilities 151,657 195,601 Total current liabilities 339,283 352,209 Long-term debt 396,970 396,465 Deferred income taxes — 17,013 Other non-current liabilities 517,904 47,028 Total liabilities 1,254,157 812,715 Commitments and contingencies Noncontrolling interest 659 603 Wabash National Corporation stockholders' equity: Common stock 200,000,000 shares authorized, $ 0.01 par value, 43,336,755 and 45,393,260 shares outstanding, respectively 781 774 Additional paid-in capital 687,801 677,886 Retained earnings 109,995 403,923 Accumulated other comprehensive losses ( 3,125 ) ( 428 ) Treasury stock at cost, 34,796,209 and 32,128,755 common shares, respectively ( 594,932 ) ( 532,659 ) Total Wabash National Corporation stockholders' equity 200,520 549,496 Total liabilities, noncontrolling interest, and equity $ 1,455,336 $ 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 September 30, Nine Months Ended September 30, 2

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View this 10-Q filing on SEC EDGAR