Wabash Posts Q2 Loss of $0.56/Share, Guides to Q3 Loss of $0.45; Backlog Climbs 14% to $956M
WNC has more than doubled off its 52-week low of $6.63.
Summary
Wabash National reported a Q2 2026 loss of $0.56 per share, guided for a Q3 loss of $0.45, and disclosed a 14% sequential backlog increase to $956 million, suggesting demand is improving even as losses persist.
Key Events · Earnings and Guidance · WNC
-
Q2 Loss of $0.56/Share
Revenue fell 9.1% YoY to $417.2 million; GAAP operating loss was $25 million, with EPS of $(0.56). Non-GAAP adjusted EPS was $(0.53).
-
Q3 Guidance: Loss of $0.45/Share
Company expects Q3 revenue of $440–$460 million and Non-GAAP adjusted EPS of $(0.50) to $(0.40), a sequential improvement but still a loss.
-
Backlog Surges 14% to $956M
Total backlog rose $119 million from Q1 to $956 million, outperforming seasonal trends and signaling strengthening demand.
-
Liquidity Bolstered by Recent Convertible Notes
Earlier in July, Wabash closed a $150 million convertible notes offering, providing cash to navigate the downturn.
Analysis · WNC · Manufacturing
A slow freight recovery weighed on Wabash National's second quarter, producing a GAAP loss of $0.56 per share on revenue of $417 million—down 9% from a year ago. Looking ahead, the company guided for a Q3 loss of $0.45 per share, a sequential improvement that nonetheless keeps it firmly in the red. On a brighter note, backlog surged 14% to $956 million, hinting that demand is beginning to firm. The results land shortly after a $150 million convertible notes offering earlier this month, which bolsters liquidity to ride out the downturn. While the numbers confirm the freight cycle is bottoming, profitability remains elusive.
At the time of this filing, WNC was trading at $13.30 on NYSE in the Manufacturing sector, with a market capitalization of approximately $541.4M. The 52-week trading range was $6.63 to $14.32. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.