NYSE$WNC

Wabash National Corporation · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Announced fourth quarter and full year 2021 results, highlighted by a record backlog and strategic brand unification.

Wabash National reported Q4 2021 results with a net sales of $479.3 million and an operating loss of $(18.6) million. On a non-GAAP basis, the operating income was $9.7 million, or 2.0% of net sales. The company's backlog reached a record $2.5 billion, up 31% sequentially and 70% year-over-year.

  • Record backlog of $2.5 billion, up 31% sequentially and 70% year-over-year.
  • Fourth quarter revenue of $479.3 million.
  • Fourth quarter GAAP operating loss of $(18.6) million, or operating income of $9.7 million on a non-GAAP adjusted basis.
  • Company announces move to unified Wabash branded offerings, retirement of legacy brand names.

Headline financials

Total Revenue

$479M

Previous: $404M+18.6%
EPS (adj)

$0.07

Previous: $0.10-30.0%
New trailers shipped

11.7K

No prior period
Truck bodies shipped

3.2K

No prior period
Total backlog

$2.5B

Previous: $1.5B+66.7%
Capital Expenditures

$28.9M

Previous: $6.41M+350.9%
Free Cash Flow

$37.8M

Previous: $104M-63.6%
Net Income

-$25.3M

Previous: $5.5M-560.2%
Operating Income

-$18.6M

Previous: $10M-286.2%
Gross Profit

$42.6M

Previous: $45.5M-6.3%
Cash & Equivalents

$71.8M

Previous: $218M-67.0%
Total Assets

$1.11B

Previous: $1.16B-4.7%
Stock-Based Comp

$1.17M

Previous: $2.23M-47.6%

Revenue & EPS history

Wabash National · Revenue · Quarterly

$479M

Q4 2021+18.6%vs Q4 2020
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

Wabash National · $443M total across 1 segment · Q4 2021

  • Transportation
    $443M

Forward guidance

For the full year ending December 31, 2022, the company has issued guidance of approximately $2.3 billion in sales and earnings per diluted share of at least $1.75.

Tailwinds

  • Optimistic about 2022 due to cost recovery within order backlog.
  • Order backlog grew to another record level during the fourth quarter.
  • Initiation of pass-through pricing on commodities ensure a new level of margin stability
  • EPS certainty for Wabash in 2022.
  • Focused on bringing new products and technologies to market.

Headwinds

  • Financial outlook assumes no improvement in supply chain conditions.
  • Uncertain economic conditions including the possibility that customer demand may not meet expectations
  • Increased competition
  • Reliance on certain customers and corporate partnerships
  • Risks of customer pick-up delays

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+1.3%

Avg return

Earnings day

+2.1%

Avg return

5 days after

+1.6%

Avg return

30 days after

56%

36 / 64 earnings

Positive

+22.5%

Q3 2012

Best reaction

-30.6%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.1%-10.6%-8.7%
Q4 2025-3.1%-0.8%-18.1%
Q3 2025-2.2%-2.8%+4.3%
Q1 2025-30.6%-18.9%-13.0%
Q4 2024+4.3%-2.2%-25.1%
Q3 2024+5.4%+5.0%+13.2%
Q2 2024-9.0%-7.9%-13.3%
Q1 2024-6.8%-6.6%-13.4%
Q4 2023+10.6%+5.0%+6.2%
Q3 2023+1.4%+0.7%+4.7%
Q2 2023-9.9%-4.3%-10.3%
Q1 2023+17.2%+16.0%+9.0%
Q4 2022+11.4%+10.4%+6.3%
Q3 2022+17.6%+28.7%+52.7%
Q2 2022+7.7%+14.8%+10.6%
Q1 2022+9.0%+4.8%+11.2%
Q4 2021-10.7%-15.3%-11.8%
Q3 2021+2.4%+2.5%+3.4%
Q2 2021+1.1%+2.2%+9.7%
Q1 2021-2.0%-2.5%-14.1%
Q4 2020+3.3%+6.7%+10.6%
Q3 2020+5.9%+12.7%+21.0%
Q2 2020+7.5%+0.2%+7.2%
Q1 2020+0.1%+13.7%+31.2%
Q4 2019+6.0%+4.6%-27.0%
Q3 2019+4.9%+2.9%+5.0%
Q2 2019-2.1%-3.6%-12.6%
Q1 2019-0.5%+3.2%-10.4%
Q4 2018-5.8%-5.3%-0.2%
Q3 2018+13.0%+17.8%+16.7%
Q2 2018+1.2%-1.0%-2.1%
Q1 2018+1.9%-2.1%-0.2%
Q4 2017+9.2%+8.2%-6.5%
Q3 2017-3.2%-10.4%-8.5%
Q2 2017-7.8%-16.1%-11.3%
Q1 2017+20.2%+15.5%+8.7%
Q4 2016+15.0%+20.3%+23.4%
Q3 2016-12.5%-16.2%+1.9%
Q2 2016+8.6%+12.8%+11.9%
Q1 2016+10.7%
Q4 2015-1.0%
Q3 2015+1.1%
Q2 2015+10.8%
Q1 2015+6.1%
Q4 2014+14.1%
Q3 2014-17.5%
Q2 2014+0.8%
Q1 2014-6.0%
Q4 2013-8.5%
Q3 2013-7.6%
Q2 2013+13.7%
Q1 2013-5.9%
Q4 2012-3.5%
Q3 2012+22.5%
Q2 2012+3.0%
Q1 2012-1.6%
Q4 2011-2.4%
Q3 2011+6.4%
Q4 2010-12.4%
Q2 2011-12.4%
Q1 2011-6.6%
Q3 2010+13.6%
Q2 2010-6.3%
Q1 2010-8.6%

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