Wabash National Corporation · NYSE:WNC
Wabash National — Q1 2026 Earnings Presentation
16 slides from Wabash National's earnings presentation, May 1, 2026
Slide 1: First Quarter 2026 Earnings Release
First Quarter 2026 Earnings Release Changing How the World Reaches You® May 01, 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 Near term conditions remain challenging, but confidence in the 1 outlook is building. Section 232 tariff calculation changes and AD/CVD rulings set to 2 favorably shift industry dynamics in late 2026 and into 2027. Parts & Services revenue grew >4% year-on-year as we continue to build
Slide 4: Q1 2026 Consolidated Financial Performance
Q1 2026 Consolidated Financial Performance Non-GAAP New Shipments GAAP Financial Adjusted Results Financial Results Revenue $303M 5,378 Trailers Operating Loss $(52.4)M $(55.5)M1 Operating Margin (17.3)% (18.3)%1 1,527 Truck Bodies Net Loss Attributable to $(45.2)M $(47.5)M2 Common Stockholders Dilu
Slide 5: Q1 2026 Adjusted Segment Financial Performance
Q1 2026 Adjusted Segment Financial Performance Transportation Solutions Parts & Services (2.8)% (13.8)% 13.3% $54 $52 $347 (4.1)% $250 Revenue ($M) Adjusted Operating Margin Revenue ($M) Adjusted Operating Margin Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 5
Slide 6: Cash Flow & Capital Allocation Summary
Cash Flow & Capital Allocation Summary Cash Flow ($M) Q1 2026 Q1 2025 ◦ Efficient Working Capital Net cash used in operating activities $(33.7) $(0.3) Management bolsters Operating Cash payments for capital expenditures $(3.4) $(8.7) Cash Flow Expenditures for revenue generating assets $(0.2) $(20.1
Slide 7: Q2 2026 Financial Outlook
Q2 2026 Financial Outlook OTHER KEY METRICS • Revenue: $380M - $400M • SG&A: $40M - $45M $390M (5.0%) ($0.50) • Intangible Amortization: $3M • Interest Expense: $6M - $7M Revenue Operating EPS • Tax Rate: 25% (midpoint) Margin (midpoint) • EPS Range: $(0.40) - $(0.60) (midpoint) • Traditional Capex:
Slide 8: Appendix
Appendix WABASIT
Slide 9: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets Unaudited - dollars in thousands March 31, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 43,427 $ 31,923 Accounts receivable, net 159,186 119,874 Inventories, net 198,289 181,153 Prepaid expenses and other 68,349 86,136 Total current
Slide 10: Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations Unaudited - dollars in thousands Three Months Ended March 31, 2026 2025 Net sales $ 303,229 $ 380,890 Cost of sales 313,804 361,887 Gross (loss) profit (10,575) 19,003 General and administrative expenses 32,097 (304,685) Selling expenses 7,718 6,379 Am
Slide 11: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows Unaudited - dollars in thousands Three Months Ended March 31, 2026 2025 Cash flows from operating activities Net (loss) income $ (45,235) $ 231,196 Adjustments to reconcile net (loss) income to net cash used in operating activities Depreciation 12,355
Slide 12: Q1 QTD Segment Information
Q1 QTD Segment Information (Unaudited - dollars in thousands) Wabash National Corporation Three Months Ended March 31, 2026 2025 Units Shipped 1 Adjusted operating loss, a New trailers 5,378 6,290 non-GAAP financial measure, excludes certain costs, New truck bodies 1,527 3,000 expenses, other charge
Slide 13: Reconciliation of Adjusted Segment Operating Loss
Reconciliation of Adjusted Segment Operating Loss1 Three Months Ended Unaudited - dollars in thousands March 31, 2026 2025 Transportation Solutions 1 Adjusted operating loss, a non-GAAP financial measure, Loss from operations $ (37,349) $ (9,798) excludes certain costs, Adjustments: expenses, other
Slide 14: 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 March 31, 2026 2025 Net (loss) income attributable to common stockholders $ (45,171) $ 230,94
Slide 15: 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 March 31, 2026 2025 Net (loss) income $ (45,235) $ 231,196 Income tax (benefit) expense (13,020) 78,101 Interest expense 6,186 5,026 Depreciation and amortization 15,029 15,03
Slide 16: 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 March 31, 2026 2025 2026 2025 (Loss) income from operations $ (37,349) $ (9,798) $ 3,803 $ 6,910 Depreciation and amortization