Wabash National Corporation · NYSE:WNC
Wabash National — Q4 2024 Earnings Presentation
17 slides from Wabash National's earnings presentation, Jan 29, 2025
Slide 1: Fourth Quarter 2024 Earnings Release
Fourth Quarter 2024 Earnings Release Changing How the World Reaches You® January 29, 2025
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 Wabash Demonstrated Improved Resilience During Freight 1 Down-cycle in 2024 with Sales of $1.95B and Adjusted EPS of $1.22 Collaborating Across Our Ecosystem to Leverage Wabash's 2 Competency as an Integrator Produces Early Customer Value Wins Key Leadership Additions Completed to Dri
Slide 4: Q4 2024 Consolidated Financial Performance
Q4 2024 Consolidated Financial Performance New Shipments Revenue $417M 6,770 Trailers Operating Income $3.6M Operating Margin 0.9% Net Loss Attributable to Common 3,010 Truck Bodies $(1.0)M Stockholders Diluted EPS Attributable to $(0.02) Common Stockholders 4
Slide 5: Q4 2024 Segment Financial Performance
Q4 2024 Segment Financial Performance Transportation Solutions Parts & Services $547 13.6% $55 18.4% $49 $370 9.2% 4.8% Revenue ($M) Operating Margin Revenue ($M) Operating Margin Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 5
Slide 6: Cash Flow & Capital Allocation Summary
Cash Flow & Capital Allocation Summary Cash Flow ($M) Q4 2024 Q4 2023 ◦ Strong year-to-date Operating Cash Net cash provided by operating activities $80.9 $115.0 Flow aided by more efficient working capital levels Cash payments for capital expenditures $(21.3) $(13.0) Expenditures for revenue genera
Slide 7: 2025 Financial Outlook
2025 Financial Outlook OTHER KEY METRICS • Revenue Range: $1.9B - $2.1B • SG&A: $170M - $180M $2.0B 4% $0.95 • Intangible Amortization: $12M • Interest Expense: $20M Revenue Operating EPS • Marketplace JV Expense: $5M (midpoint) Margin (midpoint) (midpoint) • Tax Rate: 25% • EPS Range: $0.85 - $1.05
Slide 8: Appendix
Appendix WABASIT
Slide 9: Consolidated Balance Sheets
Consolidated Balance Sheets Unaudited - dollars in thousands December 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 115,484 $ 179,271 Accounts receivable, net 143,946 182,990 Inventories, net 258,825 267,635 Prepaid expenses and other 76,233 51,457 Total current asset
Slide 10: Consolidated Statements of Operations
Consolidated Statements of Operations Unaudited - dollars in thousands Three Months Ended December 31, Twelve Months Ended December 31, 2024 2023 2024 2023 Net sales $ 416,814 $ 596,100 $ 1,946,740 $ 2,536,500 Cost of sales 373,855 487,877 1,681,668 2,038,313 Gross profit 42,959 108,223 265,072 498,
Slide 11: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows Unaudited - dollars in thousands Year Ended December 31, 2024 2023 Cash flows from operating activities: Net (loss) income $ (283,075) $ 231,855 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation 45,012 32,507 A
Slide 12: Q4 QTD Segment Information
Q4 QTD Segment Information (Unaudited - dollars in thousands) Wabash National Corporation Three Months Ended December 31, 2024 2023 Units Shipped 1 Adjusted operating income (loss), New trailers 6,770 10,075 a non-GAAP financial measure, excludes certain costs, expenses, New truck bodies 3,010 4,075
Slide 13: Q4 YTD Segment Information
Q4 YTD Segment Information (Unaudited - dollars in thousands) Wabash National Corporation Twelve Months Ended December 31, 2024 2023 Units Shipped 1 Adjusted operating income (loss), a non-GAAP financial measure, New trailers 32,100 44,450 excludes certain costs, expenses, other charges, gains or in
Slide 14: Reconciliation of Adjusted Segment Operating Income
1 Reconciliation of Adjusted Segment Operating Income Unaudited - dollars in thousands Three Months Ended December 31, Twelve Months Ended December 31, 2024 2023 2024 2023 1 Adjusted operating income (loss) Transportation Solutions and margin, a non-GAAP financial measure, excludes certain costs, In
Slide 15: Reconciliation of Adjusted Net (Loss) Income and Adjusted Diluted EPS
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 December 31, Twelve Months Ended December 31, 2024 2023 2024 2023 Net (loss)
Slide 16: Reconciliation of Operating EBITDA and Free Cash Flow
Reconciliation of Operating EBITDA and Free Cash Flow Unaudited - dollars in thousands Adjusted EBITDA1 : Three Months Ended December 31, Twelve Months Ended December 31, 2024 2023 2024 2023 Net (loss) income $ (693) $ 50,504 $ (283,075) $ 231,855 Income tax (benefit) expense (1,308) 6,541 (93,523)
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 December 31 2024 2023 2024 2023 Income from operations $ 17,942 $ 74,593 $ 4,494 $ 10,145 Depreciation and amortization 14,291