Wabash National Corp. Q1 Profit Rises, Beats Estimates; Raises FY22 Outlook

(RTTNews) - Wabash National Corporation (WNC), a provider of transportation, logistics, and distribution industries solutions, on Wednesday posted a significant rise in income for the first quarter, reflecting a rise in sales, backed by higher demand across its portfolio of solutions. Also, the company's adjusted earnings beat the Street view. In addition, for fiscal 2022, the company has raised its guidance.

For the three-month period ended in March, the company reported a net income of $12.07 million or $0.24 per share, compared with $3.21 million or $0.06 per share, reported for the same period, last year.

Excluding items, the earnings were $12.07 million or $0.24 per share, compared with $3.21 million or $0.06 per share last year. Five analysts, on average, polled by Thomson-Reuters were estimating the firm to report earnings per share of $0.11. Analysts' estimates typically exclude one-time items.

Operating EBITDA of the company also moved up to $36.01 million, from $26.09 million, reported for the previous year quarter.

Amidst a rise in demand, the company generated sales for the period at $546.76 million, compared with $392.00 million, reported for the same quarter of 2021.

Moving forward, for the fiscal 2022, the company has raised its outlook for revenue by $200 million to $2.5 billion. Analysts, on average, now expect the firm to report a revenue of $2.28 billion.

In addition, the Group also increased its full-year earnings per share outlook by $0.15 to $1.90, while analysts now project Wabash to post earnings per share of $1.72.