Wabash swings to big full-year loss
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LAFAYETTE, Ind. - Lafayette-based trailer manufacturer Wabash is reporting a full-year net loss of $284 million in 2024, compared to net income of $231 million the previous year.
Despite the loss, CEO Brent Yeagy said the company demonstrated improved resilience during a down cycle in the industry.
Net sales for the full year fell from $2.5 billion in 2023 to $1.9 billion last year, according to Wabash’s most recent earnings report.
In September, the company was ordered to pay $462 million to the families of two men killed in a 2019 crash involving one of the company’s trailers. The victims’ families claimed Wabash was negligent and manufactured a defective product which was then involved in the crash.
In its third-quarter earnings report, Wabash partially attributed its big quarterly loss to the court’s ruling.
But looking ahead, Yeagy said the company is optimistic about its ability to grow recurring revenue.
“Overall, we see 2025 as a transitional year, paving the way for improving market conditions as well as providing opportunity for continued advancement on our journey to increase value for customers leveraging all facets of our expanding portfolio and ecosystem,” Yeagy said.
Shares of Wabash’s stock was up nearly 5% near end-of-day trading on Wednesday at $16.41 per share. Wabash is the 20th-largest public company in Indiana, according to IBJ research.
You can connect to the company’s full earnings report by clicking here.