Wabash National
Builds trailers, truck bodies, parts, and service platforms for first-to-final-mile freight.
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Profile
Designs and manufactures dry and refrigerated trailers, tank trailers, truck bodies, and process equipment, with Parts & Services adding aftermarket, upfitting, digital marketplace, and Trailers as a Service offerings. Sales are concentrated in North American fleet channels, and demand moves with freight-equipment cycles.
Produces dry and refrigerated van trailers, platform trailers, tank trailers, dry and refrigerated truck bodies, structural composite panels, aerodynamic products, and specialty processing equipment for food, beverage, pharmaceutical, chemical, brewing, and biotech markets.
Transportation Solutions remains the equipment core, while Parts & Services adds aftermarket parts, upfitting, DuraPlate components, Wabash Parts, Linq, and Trailers as a Service. The service direction extends a cyclical trailer base into recurring fleet support, digital marketplace, and on-demand capacity offers.
Demand is concentrated in North American freight, leasing, private-fleet, package, and liquid-carrier channels, with limited international exposure. The business depends on dry-van and refrigerated-trailer demand, raw-material and component supply, customer concentration, and legal/product-liability outcomes.
Company facts
Categories
Key statistics
Year to date +49.1% · Average volume (30d) 964.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 12, 2026 | National Bank | Target | $9 | $20 | ||
| Jul 15, 2026 | Citigroup | Initiate | Outperform | |||
| Jun 17, 2026 | DA Davidson | Upgrade | Neutral | Buy | $8.50 | $20 |
| May 5, 2026 | DA Davidson | Reiterate | Neutral | $9 | $8.50 | |
| Oct 23, 2025 | National Bank | Target | $23 | $9 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | −$0.56 | −$0.53 | +5.4% | $402.9M | $417.2M | +3.6% | −6.84% |
| May 1, 2026Q1 FY26 | −$1.01 | −$1.17 | −15.8% | $319.0M | $303.2M | −5.0% | −1.04% |
| Feb 4, 2026Q4 FY25 | −$0.77 | −$0.93 | −20.8% | $318.3M | $321.5M | +1.0% | −0.72% |
| Oct 30, 2025Q3 FY25 | −$0.24 | −$0.51 | −113.3% | $390.6M | $381.6M | −2.3% | −0.87% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $380.9M | $458.8M | $381.6M | $321.5M | $303.2M | $417.2M | |
| Gross profit | $19.0M | $41.4M | $15.7M | −$17.4M | −$10.6M | $15.3M | |
| Operating income | $314.6M | −$4.8M | $57.6M | −$46.4M | −$52.4M | −$25.3M | |
| Net income | $230.9M | −$9.6M | $40.0M | −$49.9M | −$45.2M | −$22.9M | |
| Diluted EPS | $5.36 | −$0.23 | $0.97 | −$1.23 | −$1.11 | −$0.56 | |
| Gross margin | 5.0% | 9.0% | 4.1% | -5.4% | -3.5% | 3.7% | |
| Operating margin | 82.6% | -1.0% | 15.1% | -14.4% | -17.3% | -6.1% |
Fiscal years (4-quarter sums)FY21 $1.80B · FY22 $2.50B · FY23 $2.54B · FY24 $1.95B · FY25 $1.54B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $71.5M · Total debt $513.2M · Total assets $1.24B · Shareholders' equity $292.5M
Dividends
Raised for 8 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 2, 2026 | Jul 2 | Jul 23 | $0.08 | |
| Apr 2, 2026 | Apr 2 | Apr 23 | $0.08 | |
| Jan 8, 2026 | Jan 8 | Jan 29 | $0.08 | |
| Oct 2, 2025 | Oct 2 | Oct 23 | $0.08 | |
| Jul 3, 2025 | Jul 3 | Jul 24 | $0.08 | |
| Apr 3, 2025 | Apr 3 | Apr 24 | $0.08 | |
| Jan 10, 2025 | Jan 10 | Jan 30 | $0.08 | |
| Oct 10, 2024 | Oct 10 | Oct 31 | $0.08 |
Ownership
Shares outstanding 40.74M · Float 37.31M · 91.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Mirae Asset Global Etfs Holdings Ltd. | 3.93M | 9.65% | 13F | Aug 14, 2026 |
| Global X Management CO LLC | 3.62M | 8.90% | 13G | May 15, 2026 |
| BlackRock, Inc. | 3.49M | 8.57% | 13F | Aug 7, 2026 |
| FMR LLC | 2.12M | 5.21% | 13F | Aug 13, 2026 |
| D. E. Shaw & Co., Inc. | 2.07M | 5.08% | 13F | Aug 14, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Douglas Dynamics
Work-truck body and upfit peer through Dejana and Henderson
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Wabash National | $13.15 | −1.35% | $543.0M | — | — | 0.4 | −9.1% |
| Douglas Dynamics | $41.82 | −0.05% | $967.1M | 19.0 | 13.0 | 1.4 | +10.5% |
| Median | 19.0 | 13.0 | 1.4 | +10.5% |