Wabash Back To Profit In Q4, Better Than View; Annual Guidance Above Estimates

(RTTNews) - Wabash National Corporation (WNC) Thursday reported profit in the fourth quarter, compared with loss last year. Fourth-quarter earnings stood better than analysts' view. The company also provided full-year outlook, above consensus estimates.

Profit in the fourth quarter was $41.46 million, or $0.84 per share compared with a loss of $25.31 million or $0.51 per share in the same quarter a year ago.

On average, analysts polled by Thomson-Reuters expected the company to report earnings of $0.71 per share in the fourth quarter. Analysts' estimates typically exclude special items.

Sales for the quarter rose to $657.45 million from $479.28 million last year. The consensus estimate stood at $668.41 million.

Looking forward, the company expects sales for the full year ending December 31, 2023 to be in the range of $2.8 billion to $3.0 billion. Earnings per share for the year is expected between $2.70 and $3.00.

Analysts expect the company to report earnings of $2.45 per share on revenue of $2.63 billion for the year.

Wabash designs, manufactures, and distributes engineered solutions for the transportation, logistics, and distribution industries.

Wabash shares are up more than 4% in pre-market. Wednesday, it closed at $26.18, up 1.63%.