Wabash National Corporation · NYSE:WNC
Wabash National — Stifel Cross Sector Conference 2025
16 slides from Wabash National's conference presentation, Jun 3, 2025
Slide 1: Stifel Cross Sector Conference
Stifel Cross Sector Conference Pat Keslin – SVP & CFO June 3, 2025
Slide 2: Forward-looking statements
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 future events. All statements contained in this prese
Slide 3: Key Messages
3 Key Messages • Wabash is a leader in transportation solutions with a portfolio of equipment spanning from First to Final Mile • Strategic growth plans are rooted in a clear, long-term vision that aligns with customer needs and industry shifts • Equipment business is complemented by steadily growin
Slide 4: Wabash Snapshot
4WNC Investor Day | Wabash Snapshot (NYSE: WNC) Leveraging the Industry’s Broadest Portfolio Across All Phases of Transportation 1985 Lafayette, IN $407M1 6,000 14 $1.9B 4.8% Founded Headquarters Market-cap Global Employees Manufacturing Locations 2024 Revenue 2024 Adjusted Operating Margin² • Long-
Slide 5: Purpose, Vision and Mission
5WNC Investor Day | Purpose, Vision and Mission PURPOSE To change how the world reaches you VISION To be a premier provider of diverse solutions that optimize customers’ end-to-end supply chains across transportation, logistics and infrastructure markets. MISSION To transform Wabash into a dynamic g
Slide 6: Growing Our Higher Margin Parts & Services Segment
6WNC Investor Day | Growing Our Higher Margin Parts & Services Segment Growth in Parts & Services Increases Recurring Revenue within Wabash’s Portfolio $177 $193 $221 $205 $265 2021 2022 2023 2024 2025E Increasing Amount of Recurring Revenue1 • Increasing recurring revenue provides increased stabili
Slide 7: Free Cash Flow & Capital Structure
7WNC Investor Day | Free Cash Flow & Capital Structure 2024 2025 2026 2027 2028 $350 Revolving Credit Facility Debt Maturity Schedule ($M) $400 Senior Notes at 4.5% 2025 Free Cash Flow Drivers • Expect to Generate ~$20 million Working Capital Release in 2025 • Traditional Capital Expenditure Plans f
Slide 8: Appendix
APPENDIX WABASH
Slide 9: Condensed Consolidated Balance Sheets
9 Condensed Consolidated Balance Sheets Unaudited - dollars in thousands March 31, 2025 December 31, 2024 Assets Current assets: Cash and cash equivalents $ 81,036 $ 115,484 Accounts receivable, net 171,693 143,946 Inventories, net 278,648 258,825 Prepaid expenses and other 126,191 76,233 Total curr
Slide 10: Condensed Consolidated Statements of Operations
10 Condensed Consolidated Statements of Operations Unaudited - dollars in thousands Three Months Ended March 31, 2025 2024 Net sales $ 380,890 $ 515,276 Cost of sales 361,887 438,830 Gross profit 19,003 76,446 General and administrative expenses (304,685) 36,673 Selling expenses 6,379 7,042 Amortiza
Slide 11: Condensed Consolidated Statements of Cash Flows
11 Condensed Consolidated Statements of Cash Flows Unaudited - dollars in thousands Three Months Ended March 31, 2025 2024 Cash flows from operating activities Net income $ 231,196 $ 18,287 Adjustments to reconcile net income to net cash used in operating activities Depreciation 12,243 9,580 Amortiz
Slide 12: Q1 QTD Segment Information
12 Q1 QTD Segment Information (Unaudited - dollars in thousands) Wabash National Corporation Three Months Ended March 31, 2025 2024 Units Shipped New trailers 6,290 8,500 New truck bodies 3,000 3,690 Used trailers 36 15 Three Months Ended March 31, Transportation Solutions Parts & Services Corporate
Slide 13: Reconciliation of Adjusted Segment Operating (Loss) Income
13 Reconciliation of Adjusted Segment Operating (Loss) Income1 Unaudited - dollars in thousands Three Months Ended March 31, 2025 2024 Transportation Solutions (Loss) income from operations $ (9,798) $ 44,255 Adjustments: N/A — — Adjusted operating (loss) income (9,798) 44,255 Parts & Services Incom
Slide 14: Reconciliation of Adjusted Net (Loss) Income and Adjusted Diluted EPS
14 Reconciliation of Adjusted Net (Loss) Income Attributable to Common Stockholders and Adjusted Diluted EPS Unaudited - dollars in thousands Adjusted Net (Loss) Income Attributable to Common Stockholders1: Three Months Ended March 31, 2025 2024 Net income attributable to common stockholders $ 230,9
Slide 15: Reconciliation of Adjusted EBITDA and Free Cash Flow
15 Reconciliation of Adjusted EBITDA and Free Cash Flow Unaudited - dollars in thousands Adjusted EBITDA1: Three Months Ended March 31, 2025 2024 Net income $ 231,196 $ 18,287 Income tax expense 78,101 6,423 Interest expense 5,026 4,988 Depreciation and amortization 15,032 12,736 Stock-based compens
Slide 16: Reconciliation of Adjusted Segment EBITDA and Margin
16 Reconciliation of Adjusted Segment EBITDA1 and Adjusted Segment EBITDA Margin1 1 Adjusted segment EBITDA, a non-GAAP financial measure, includes noncontrolling interest & excludes loss from unconsolidated entity and is calculated by adding back segment depreciation and amortization expense to seg
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