Wabash National Corporation shares Q4 and full year results

Wabash National Corporation, a diversified industrial manufacturer and a leading producer of semi-trailers, truck bodies and liquid transportation systems, has reported results for the fourth quarter and full-year periods ending December 31, 2017.

Net income for the fourth quarter 2017 was $49.4m, compared to the fourth quarter 2016 net income of $23m. Fourth quarter 2017 non-GAAP adjusted earnings was $22.3m, a $2m decrease as compared to the prior year period. Non-GAAP adjusted earnings for the fourth quarter 2017 exclude the one-time tax benefit associated with both the adjustment of the Company’s net deferred income tax liability totalling $19.7m as a result of the Tax Cuts and Jobs Act of 2017 and the reversal of reserves for uncertain tax positions of $12.6m. 

In addition, the fourth quarter 2017 adjusted earnings excludes non-recurring expenses totalling $6.6m primarily related to acquisition and integration expenses associated with the Company’s acquisition of Supreme Industries, Inc. in September 2017 and charges incurred related to the closing of former branch locations. 

Net sales for the fourth quarter increased 18% to $543m from $462m in the prior year quarter and operating income decreased 13% to $35.3m compared to operating income of $40.6m for the fourth quarter 2016. 

For more information visit www.wabashnational.com

26th Feb 2018