Wabash National Secures $350M Credit Facility

TL;DR

Wabash just locked in $350M in new debt to fund operations and maybe buy stuff.

AI Summary

Wabash National Corporation announced on October 9, 2025, that it has entered into a new credit agreement. This agreement includes a $250 million revolving credit facility and a $100 million term loan, maturing on October 9, 2030. The company intends to use these funds for general corporate purposes, including working capital and potential acquisitions.

Why It Matters

This new credit facility provides Wabash National with significant financial flexibility, potentially enabling growth through acquisitions or increased operational capacity.

Risk Assessment

Risk Level: medium — The company is taking on new debt, which increases financial leverage and interest expenses, but also provides capital for growth.

Key Numbers

• $350M — Total Credit Facility (Combined revolving credit and term loan)
• $250M — Revolving Credit Facility (Available for general corporate purposes)
• $100M — Term Loan (Available for general corporate purposes)

Key Players & Entities

• Wabash National Corporation (company) — Registrant
• $250 million (dollar_amount) — Revolving credit facility amount
• $100 million (dollar_amount) — Term loan amount
• October 9, 2025 (date) — Date of credit agreement
• October 9, 2030 (date) — Maturity date of credit facility

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value WNC New York Stock Exchange
• $382 million — hird quarter of 2025 are expected to be $382 million compared to $464 million for the prior
• $464 million — expected to be $382 million compared to $464 million for the prior year quarter. The Company
• $0.97 — ngs for the third quarter of 2025 to be $0.97 per diluted share, compared to the thir
• $7.53 — ed to the third quarter of 2024 loss of $7.53 per diluted share. Third quarter of 20
• $0 — oss per diluted share is expected to be $0.51, compared to the third quarter of 20
• $0.19 — adjusted earnings per diluted share of $0.19. Non-GAAP adjusted earnings per diluted
• $30 million — l be covered by insurance, other than a $30 million contribution to be made by the Company.
• $81.2 million — he insurance coverage, will recognize a $81.2 million reduction to the charge taken in the th
• $11.5 million — ersal of an (1) insurance receivable of $11.5 million included in Other assets (the "Insuranc
• $122.7 million — ity for the Product Liability Matter of $122.7 million included in Other non-current liabiliti
• $12 million — a jury awarded compensatory damages of $12 million and punitive damages of $450 million ag
• $450 million — of $12 million and punitive damages of $450 million against the Company in the Product Liab
• $108 million — d the punitive damages award reduced to $108 million with the compensatory damages award rem
• $342 million — arter of 2025, the Company recognized a $342 million reduction to the $461.5 million charge

Filing Documents

• wnc-20251009.htm (8-K) — 58KB
• 0000879526-25-000050.txt ( ) — 176KB
• wnc-20251009.xsd (EX-101.SCH) — 2KB
• wnc-20251009_lab.xml (EX-101.LAB) — 21KB
• wnc-20251009_pre.xml (EX-101.PRE) — 12KB
• wnc-20251009_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On October 10, 2025, Wabash National Corporation (the "Company") announced certain preliminary results for the quarter ended September 30, 2025. The preliminary results are subject to adjustment and finalization by the Company. There can be no assurance that our final results will not differ from these preliminary estimates. Net sales for the third quarter of 2025 are expected to be $382 million compared to $464 million for the prior year quarter. The Company expects earnings for the third quarter of 2025 to be $0.97 per diluted share, compared to the third quarter of 2024 loss of $7.53 per diluted share. Third quarter of 2025 non-GAAP adjusted loss per diluted share is expected to be $0.51, compared to the third quarter of 2024 non-GAAP adjusted earnings per diluted share of $0.19. Non-GAAP adjusted earnings per diluted share for the third quarter of 2024 and 2025 exclude non-cash expense adjustments for a lawsuit, the Product Liability Matter, described below. Challenging market conditions persisted through the quarter, driving softer demand and expected revenue below the low end of our guidance range. Despite these headwinds, disciplined execution and prudent working capital management resulted in expected positive free cash flow year-to-date. 1 We will discuss further at our Earnings Call on October 30, 2025. 1 Free cash flow is defined as net cash (used in) provided by operating activities minus cash payments for capital expenditures minus expenditures for revenue generating assets. Non-GAAP Measures In addition to disclosing financial results calculated in accordance with United States generally accepted accounting principles ("GAAP"), the financial information included in this Form 8-K contains non-GAAP financial measures. These non-GAAP measures should not be considered a substitute for, or superior to, financial measures and results calculated in accordance with GAAP, including net (loss) inco

01. Other Events

Item 8.01. Other Events. On October 9, 2025, the Company finalized a settlement (the "Settlement") with the plaintiffs in a lawsuit, Eileen Williams, Elizabeth Perkins, et al. v. Wabash National Corporation, et al., filed in the Circuit Court of the City of St. Louis, Missouri (the "Product Liability Matter"), in which the Company was named as co-defendant. The Product Liability Matter related to a vehicle accident that resulted in two fatalities following a rear-end collision by a passenger vehicle with an unobstructed view which struck the back of a nearly stopped tractor-trailer owned and operated by co-defendant GDS Express Inc. The Settlement will be covered by insurance, other than a $30 million contribution to be made by the Company. The Company, after taking into account the insurance coverage, will recognize a $81.2 million reduction to the charge taken in the third quarter of 2024, reflecting the reversal of an (1) insurance receivable of $11.5 million included in Other assets (the "Insurance Receivable") and (2) aggregate liability for the Product Liability Matter of $122.7 million included in Other non-current liabilities (the "Matter Liability") , each, as previously reflected in the Company's Condensed Consolidated Balance Sheet as of June 30, 2025. The evidence in the Product Liability Matter was undisputed that the trailer fully complied with all applicable regulations. Despite precedent to the contrary, the jury was prevented from hearing critical evidence in the case, including that the driver's blood alcohol level was over the legal limit at the time of the accident and the fact that neither the driver nor the passenger was wearing a seatbelt. As previously disclosed in the Company's filings with the Securities and Exchange Commission, on September 5, 2024, a jury awarded compensatory damages of $12 million and punitive damages of $450 million against the Company in the Product Liability Matter. On November 22, 2024, applying an offset related

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K ("Current Report") contains certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey the Company's current expectations or forecasts of future events. All statements contained in this Current Report other than statements of historical fact are forward-looking statements. These forward-looking statements include, among other things, all statements regarding the litigation described above, expectations regarding insurance coverage, the Company's assessment of litigation and any actions the Company may take in response to the Settlement, judgment, and the impact of litigation on the Company's business and financial condition. These and the Company's other forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Without limitation, these risks and uncertainties include outcomes with respect to the Product Liability Matter and the Settlement , the highly cyclical nature of our business, uncertain economic conditions including the possibility that customer demand may not meet our expectations, our backlog may not reflect future sales of our products, increased competition, reliance on certain customers and corporate partnerships, risks of customer pick-up delays, shortages and costs of raw materials including the impact of tariffs or other international trade developments, risks in implementing and sustaining improvements in the Company's manufacturing operations and cost containment, dependence on industry trends and timing, supplier constraints, labor costs and availability, customer acceptance of and reactions to pricing changes, costs of indebtedness, and our ability to execute on our long-term strategic plan. Readers should review and consider the various disclosures made by the Company in this Current Repor

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View this 8-K filing on SEC EDGAR