Wabash National Corporation · NYSE:WNC
Wabash National — Q3 2026 Earnings Presentation
17 slides from Wabash National's earnings presentation, Oct 29, 2026
Slide 1: Third Quarter 2026 Earnings Release
Third Quarter 2026 Earnings Release Changing How the World Reaches You® October 29, 2026
Slide 2: Safe Harbor Statement & Non-GAAP Financial Measures
Safe Harbor Statement & Non-GAAP Financial Measures This presentation contains certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey Wabash National Corporation's (the "Company") current expectations or forecasts of f
Slide 3: CEO Highlights
CEO Highlights Backlog grew 25% to $1.2b in Q3-26 and grew a further 10% to $1.3b 1 by mid-October-26 Accretive pricing within 2027 backlog results in expected 600Bps 2 Material Margin expansion vs Q2-26. ITC Final affirmative determination on AD/CVD rulings for China in 3 September-26 4 Q3 GAAP EPS
Slide 4: Q3 2026 Consolidated Financial Performance
Q3 2026 Consolidated Financial Performance Non-GAAP New Shipments GAAP Financial Adjusted Results Financial Results Revenue $476M 9,563 Trailers3 Operating Loss $(20.0)M $(27.0)M1 Operating Margin (4.2)% (5.7)%1 1,685 Truck Bodies Net Loss Attributable to $(20.7)M $(26.0)M2 Common Stockholders Dilut
Slide 5: Q3 2026 Adjusted Segment Financial Performance
Q3 2026 Adjusted Segment Financial Performance Transportation Solutions Parts & Services $69 $61 (3.9)% (3.5)% $408 $334 10.9% 8.1% Revenue ($M) Adjusted Operating Margin 1 Revenue ($M) Adjusted Operating Margin 1 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 1Adjusted operating ma
Slide 6: Cash Flow & Capital Allocation Summary
Cash Flow & Capital Allocation Summary Cash Flow ($M) Q3 2026 Q3 2025 Net cash (used in) provided by operating ◦ Efficient Working Capital $(37.3) $85.2 activities Management bolsters Operating Cash payments for capital expenditures $(3.5) $(5.3) Cash Flow Expenditures for revenue generating assets
Slide 7: Q4 2026 Financial Outlook
Q4 2026 Financial Outlook OTHER KEY METRICS • Revenue: $420M - $450M • SG&A: $39M - $44M $435M (6.5%) ($0.65) • Intangible Amortization: $3M • Interest Expense: $7M - $8M Revenue Operating EPS • Tax Rate: 25% (midpoint) Margin (midpoint) • EPS Range: $(0.75) - $(0.55) (midpoint) • Traditional Capex:
Slide 8: Appendix
Appendix WABASIT
Slide 9: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets Unaudited - dollars in thousands September 30, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 69,290 $ 31,923 Accounts receivable, net 198,614 119,874 Inventories, net 195,329 181,153 Prepaid expenses and other 39,792 86,136 Total curr
Slide 10: Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations Unaudited - dollars in thousands Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net sales $ 476,408 $ 381,595 $ 1,196,878 $ 1,221,301 Cost of sales 461,533 365,887 1,177,249 1,145,190 Gross profit 14,875 15,708 19,
Slide 11: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows Unaudited - dollars in thousands Nine Months Ended September 30, 2026 2025 Cash flows from operating activities Net (loss) income $ (88,202) $ 261,632 Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities Dep
Slide 12: Q3 QTD Segment Information
Q3 QTD Segment Information (Unaudited - dollars in thousands) Wabash National Corporation Three Months Ended September 30, 2026 2025 Units Shipped 1 Adjusted operating (loss) New trailers (1) 9,563 6,675 income, a non-GAAP financial measure, excludes New truck bodies 1,685 3,067 certain costs, expen
Slide 13: Q3 YTD Segment Information
Q3 YTD Segment Information (Unaudited - dollars in thousands) Wabash National Corporation Nine Months Ended September 30, 2026 2025 Units Shipped 1 Adjusted (loss) income from operations, a non-GAAP New trailers (1) 23,233 20,495 financial measure, excludes New truck bodies 4,592 9,253 certain costs
Slide 14: Reconciliation of Adjusted Segment Operating Loss
Reconciliation of Adjusted Segment Operating Loss1 Three Months Ended Nine Months Ended Unaudited - dollars in thousands September 30, September 30, 2026 2025 2026 2025 Transportation Solutions 1 Adjusted operating loss, a Loss from operations $ (7,541) $ (13,116) $ (58,791) $ (10,396) non-GAAP fina
Slide 15: Reconciliation of Adjusted Net Loss and Adjusted Diluted EPS
Reconciliation of Adjusted Net Loss Attributable to Common Stockholders1 and Adjusted Diluted EPS1 Unaudited - dollars in thousands Adjusted Net Loss Attributable to Common Stockholders1: Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net (loss) income attributa
Slide 16: Reconciliation of Adjusted EBITDA and Free Cash Flow
Reconciliation of Adjusted EBITDA1 and Free Cash Flow2 Unaudited - dollars in thousands Adjusted EBITDA1: Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net (loss) income $ (20,353) $ 40,039 $ (88,202) $ 261,632 Income tax (benefit) expense (6,244) 11,629 (28,12
Slide 17: Reconciliation of Adjusted Segment EBITDA and Margin
Reconciliation of Adjusted Segment EBITDA1 and Adjusted Segment EBITDA Margin1 Unaudited - dollars in thousands Transportation Solutions Parts & Services Three Months Ended September 30, 2026 2025 2026 2025 (Loss) income from operations $ (7,541) $ (13,116) $ 5,756 $ 6,621 Depreciation and amortizat