Wabash National Corporation · NYSE:WNC
Wabash National — Q2 2026 Earnings Presentation
17 slides from Wabash National's earnings presentation, Jul 29, 2026
Slide 1: Second Quarter 2026 Earnings Release
Second Quarter 2026 Earnings Release Changing How the World Reaches You® July 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 $150m of convertible senior notes executed in July, enhancing 1 balance sheet strength and agility. Backlog grew 14% to $956m in Q2-26, outperforming traditional 2 seasonal trends. Section 232 tariff calculation changes and AD/CVD rulings expected to 3 favorably shift industry dynamic
Slide 4: Q2 2026 Consolidated Financial Performance
Q2 2026 Consolidated Financial Performance Non-GAAP New Shipments GAAP Financial Adjusted Results Financial Results Revenue $417M 8,292 Trailers3 Operating Loss $(25.3)M $(23.5)M1 Operating Margin (6.1)% (5.6)%1 1,380 Truck Bodies Net Loss Attributable to $(22.9)M $(21.6)M2 Common Stockholders Dilut
Slide 5: Q2 2026 Adjusted Segment Financial Performance
Q2 2026 Adjusted Segment Financial Performance Transportation Solutions Parts & Services 3.1% $63 $60 15.2% $400 (3.4)% $355 9.4% Revenue ($M) Adjusted Operating Margin1 Revenue ($M) Adjusted Operating Margin1 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 1Adjusted operating margin
Slide 6: Cash Flow & Capital Allocation Summary
Cash Flow & Capital Allocation Summary Cash Flow ($M) Q2 2026 Q2 2025 Net cash provided by (used in) operating ◦ Efficient Working Capital $5.1 $(15.8) activities Management bolsters Operating Cash payments for capital expenditures $(2.1) $(6.2) Cash Flow Expenditures for revenue generating assets $
Slide 7: Q3 2026 Financial Outlook
Q3 2026 Financial Outlook OTHER KEY METRICS • Revenue: $440M - $460M • SG&A: $40M - $45M $450M (4.0%) ($0.45) • Intangible Amortization: $3M • Interest Expense: $7M - $8M Revenue Operating EPS • Tax Rate: 25% (midpoint) Margin (midpoint) • EPS Range: $(0.40) - $(0.50) (midpoint) • Traditional Capex:
Slide 8: Appendix
Appendix WABASIT
Slide 9: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets Unaudited - dollars in thousands June 30, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 71,496 $ 31,923 Accounts receivable, net 171,818 119,874 Inventories, net 192,261 181,153 Prepaid expenses and other 56,179 86,136 Total current a
Slide 10: Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations Unaudited - dollars in thousands Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net sales $ 417,241 $ 458,816 $ 720,470 $ 839,706 Cost of sales 401,912 417,416 715,716 779,303 Gross profit 15,329 41,400 4,754 60,403 General a
Slide 11: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows Unaudited - dollars in thousands Six Months Ended June 30, 2026 2025 Cash flows from operating activities Net (loss) income $ (67,849) $ 221,593 Adjustments to reconcile net (loss) income to net cash used in operating activities Depreciation 23,291 23,
Slide 12: Q2 QTD Segment Information
Q2 QTD Segment Information (Unaudited - dollars in thousands) Wabash National Corporation Three Months Ended June 30, 2026 2025 Units Shipped 1 Adjusted operating (loss) New trailers (1) 8,292 8,043 income, a non-GAAP financial measure, excludes New truck bodies 1,380 3,188 certain costs, expenses,
Slide 13: Q2 YTD Segment Information
Q2 YTD Segment Information (Unaudited - dollars in thousands) Wabash National Corporation Six Months Ended June 30, 2026 2025 Units Shipped 1 Adjusted (loss) income from operations, a non-GAAP New trailers (1) 13,670 13,820 financial measure, excludes New truck bodies 2,907 6,186 certain costs, expe
Slide 14: Reconciliation of Adjusted Segment Operating Loss
Reconciliation of Adjusted Segment Operating Loss1 Three Months Ended Six Months Ended Unaudited - dollars in thousands June 30, June 30, 2026 2025 2026 2025 Transportation Solutions 1 Adjusted operating loss, a non-GAAP financial measure, (Loss) income from operations $ (13,901) $ 12,518 $ (51,250)
Slide 15: Reconciliation of Adjusted Net Loss Attributable to Common Stockholders 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 June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net (loss) income attributable to comm
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 June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net (loss) income $ (22,614) $ (9,603) $ (67,849) $ 221,593 Income tax (benefit) expense (8,856) (2,692) (21,876) 75,409
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 June 30, 2026 2025 2026 2025 (Loss) income from operations $ (13,901) $ 12,518 $ 5,965 $ 9,060 Depreciation and amortization 10