Wabash sees Q3 profit increase
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Lafayette-based Wabash is reporting third quarter net income of $55.3 million, up from $36.2 million during the same period last year. The results follow the opening of the trailer and truck body manufacturer’s advanced dry van trailer manufacturing facility.
Wabash cut the ribbon on the $80 million facility in September. CEO Brent Yeagy says the company is poised to generate significant free cash flow this year even while making “meaningful investments” in its operations.
“As we navigate softer near-term demand conditions within the dry van market, we expect the strength of our first to final mile portfolio to be apparent as truck bodies, tank trailers and parts & services support our results leading to what we anticipate will be our best-ever trough performance in 2024,” Yeagy said in a news release.
The company is also reporting quarterly net sales of $633 million, marking a 3.4% decrease from the third quarter of 2022.
You can connect to the full earnings report by clicking here.