WNC

Court Ruling on Damages: Wabash National has had its punitive damages reduced from $450 million to $108 million by an appellate court in relation to a trailer crash lawsuit.

Constitutional Rights Consideration: The circuit court determined that the original amount imposed by a St. Louis jury was inconsistent with the company's constitutional rights.

Wabash Legal Update: A Circuit Court has reduced the punitive damages awarded to Wabash from $450 million to $108 million in a case related to a 2019 motor vehicle accident involving one of its trailers, while maintaining the compensatory damages at $11.5 million.

Company's Position: Wabash asserts that the damages are excessively high and plans to explore further legal options, emphasizing its commitment to product quality and safety.

Wabash's Innovations at TMC 2025: Wabash will showcase its advancements in supply chain solutions, including the new 2026 DuraPlate Dry Van with enhanced safety features and its expanded Trailers as a Service (TaaS) offering, aimed at improving fleet efficiency and flexibility.

Commitment to Customer Success: The company emphasizes its transformation driven by innovation and strategic partnerships, ensuring faster delivery and reliable operations while positioning itself as a trusted partner for customers in the transportation industry.

Index Changes Announcement: S&P Dow Jones Indices will implement changes to the S&P 100, S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective March 24, 2025, to better reflect market capitalization ranges, with several companies being added and removed across these indices.

Company Replacements: Notable additions include Palantir Technologies and DoorDash in the S&P 100 and S&P 500 respectively, while companies like Dow Inc. and Ford Motor Co. will be removed from the S&P 100, with various other replacements occurring throughout the mid-cap and small-cap indices.

Wabash Expansion: Wabash is expanding its service portfolio with a new Ready-to-Mount Program and opening a Parts and Services facility in Gary, Indiana, to meet the growing demand for upfit solutions. This expansion aims to provide faster turnaround times and customizable options for fleet owners.

Showcasing Innovations: At Work Truck Week 2025, Wabash will showcase its latest transportation innovations, including energy-efficient refrigerated truck bodies and an expanded service network that enhances access to genuine parts and services for fleet operations.

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Wabash Acquires TrailerHawk.ai: Wabash has announced the acquisition of TrailerHawk.ai to enhance its Trailers as a Service (TaaS) offering, providing logistics providers with advanced cargo security, real-time visibility, and operational efficiency.

Leadership and Future Innovations: Brett Suma, founder of TrailerHawk.ai, will join Wabash Marketplace to lead the development of integrated solutions, reinforcing Wabash's commitment to merging physical and digital technologies in the logistics industry.

Earnings Guidance for 2025: Wabash National Corp. has projected earnings between $0.85 to $1.05 per share and revenues of $1.9 billion to $2.1 billion for the fiscal year 2025.

Analyst Expectations: Analysts expect the company to report an average earnings of $1.24 per share with revenues around $1.93 billion, excluding special items.

Earnings Performance: Wabash National reported a Q4 non-GAAP EPS of -$0.02, missing expectations by $0.05, while revenue decreased by 30.1% year-over-year to $416.81 million but exceeded estimates by $3.89 million.

Future Outlook: The company has a total backlog of $1.2 billion and has initiated its 2025 outlook with projected revenue of $2.0 billion and diluted earnings per share of $0.95.

Executive Appointments at Wabash: Wabash has announced the appointment of Drew Schwartzhoff as Senior Vice President and Chief Commercial Officer, and Donald Winston as Senior Vice President and Chief Operating Officer, effective January 15, 2025, to enhance growth strategy and customer value.

Leadership Transition: Kevin Page will retire from his role as Chief Commercial Officer after eight years, transitioning to a senior advisory position until June 1, while the company emphasizes its commitment to innovation and exceptional service in the transportation and logistics sectors.

Wabash Recognized for Responsibility: Wabash has been named to Newsweek's list of America's Most Responsible Companies for the third consecutive year, being the only trailer or truck body manufacturer included in the 2025 list, highlighting its commitment to environmental, social, and corporate governance (ESG) practices.

Innovations in Safety and Sustainability: The company is actively enhancing workplace safety through technology and automation, while also participating in a U.S. Department of Energy project aimed at decarbonizing commercial transportation using its EcoNex™ Technology to improve energy efficiency in refrigerated trailers.

Recognition for ESG Commitment: Wabash has been named one of America's Most Responsible Companies by Newsweek for the third consecutive year, being the only trailer or truck body manufacturer on the 2025 list, highlighting its commitment to environmental, social, and corporate governance (ESG) practices.

Safety and Sustainability Initiatives: The company has achieved significant safety improvements, including an 81% reduction in incident rates at its Cadiz facility, and is actively participating in a U.S. Department of Energy project to decarbonize commercial transportation using its EcoNex™ Technology.

New Features of Wabash DuraPlate Dry Van: The 2026 model year DuraPlate Dry Van introduces the Webb Vortex Drum with Wear Indicator, enhancing brake performance and extending brake life by up to 25%, along with several other features aimed at improving durability, efficiency, and safety.

Commitment to Quality and Reliability: Wabash emphasizes its commitment to manufacturing high-quality products in the U.S., supported by long-term supplier agreements, ensuring consistent reliability and cost-effectiveness for fleet owners as the trucking industry recovers from a freight recession.

Wabash and Goodyear Agreement: Wabash has renewed its strategic agreement with Goodyear, solidifying Goodyear as the preferred tire supplier for Wabash's trailers and enhancing customer support through full-service tire management.

Long-standing Partnership: The collaboration, which has lasted over 15 years, aims to improve operational efficiency and customer experience by leveraging Goodyear's extensive service network and innovative solutions.

Partnership Announcement: Eos Energy Enterprises has signed a Memorandum of Understanding with Wabash to enhance the manufacturing and distribution of large-scale battery energy storage systems, aiming to streamline supply chain processes and meet increasing market demand.

Market Impact: The collaboration is expected to significantly improve the efficiency and scalability of Eos' operations, potentially transforming the energy storage market in the U.S. as demand for advanced battery technologies continues to rise.

Dividend Announcement: Wabash's board of directors declared a quarterly dividend of $0.08 per share, payable on January 30, 2025, to stockholders of record on January 9, 2025.

Company Overview and Risks: Wabash is a leader in transportation solutions, offering various products while facing risks such as economic uncertainty, competition, and manufacturing challenges that could impact future performance.

Wabash National Corporation's Financial Performance: The company reported a significant loss of $330.17 million or $7.53 per share for Q3, down from a profit of $55.33 million in the same quarter last year, primarily due to declining sales and one-time legal expenses.

Revised Outlook: Wabash has lowered its full-year revenue forecast to approximately $1.95 billion from an earlier estimate of $2 billion - $2.2 billion, with earnings per share expectations also reduced to nearly $1.25 from $1.50 - $1.60.

Grant Award for Decarbonization Project: Wabash has been awarded a $1.6 million grant from the U.S. Department of Energy to develop solar energy-integrated refrigerated trailers, aiming to reduce emissions and reliance on the electrical grid in commercial transportation.

Partnership with University of Delaware: The project will utilize Wabash's EcoNex™ Technology and the University of Delaware's TuFF technology to enhance thermal efficiency and reduce weight in trailers, promoting greener transportation solutions in the mid-mile logistics sector.

Grant Award Announcement: Wabash National Corporation has been awarded a $1.6 million grant from the U.S. Department of Energy to support a project focused on decarbonizing the commercial transportation sector.

Research and Development Focus: The funding will be utilized for research and development efforts aimed at advancing sustainable practices within the transportation industry.

Earnings Conference Call Announcement: Wabash will host a webcast for its Q3 2024 earnings conference call on October 24, 2024, at 12:00 p.m. ET, accessible via their website and by phone.

Company Overview: Wabash is a leader in connected solutions for transportation and logistics, offering a variety of products including trailers and specialty equipment, with a mission to support customer success through innovative solutions.