(State or other jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
(Address of principal executive offices) | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Exhibit No. | Description | |||||||
104 | Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document). |
WABASH NATIONAL CORPORATION | ||||||||
Date: November 9, 2021 | By: | /s/ Michael N. Pettit | ||||||
Michael N. Pettit | ||||||||
Senior Vice President and Chief Financial Officer |
Wabash National Corporation | ||||||||||||||||||||||||||
Three Months Ended September 30, | 2021 | 2020 | ||||||||||||||||||||||||
New Units Shipped | ||||||||||||||||||||||||||
Trailers | 12,455 | 8,485 | ||||||||||||||||||||||||
Truck bodies | 3,780 | 3,600 | ||||||||||||||||||||||||
Transportation Solutions | Parts & Service | |||||||||||||||||||||||||
Three Months Ended September 30, | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||
Net sales | $ | 442,636 | $ | 307,357 | $ | 41,903 | $ | 47,258 | ||||||||||||||||||
Gross profit | $ | 44,705 | $ | 34,528 | $ | 8,268 | $ | 10,113 | ||||||||||||||||||
Gross profit margin | 10.1% | 11.2% | 19.7% | 21.4% | ||||||||||||||||||||||
Income (loss) from operations | $ | 25,970 | $ | 13,522 | $ | 4,148 | $ | 5,878 | ||||||||||||||||||
Income (loss) from operations margin | 5.9% | 4.4% | 9.9% | 12.4% | ||||||||||||||||||||||
Adjusted income (loss) from operations | $ | 25,970 | $ | 13,522 | $ | 4,148 | $ | 5,878 | ||||||||||||||||||
Adjusted income (loss) from operations margin | 5.9% | 4.4% | 9.9% | 12.4% |
September 30, 2021 | December 31, 2020 | ||||||||||
Assets | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | 49,374 | $ | 217,677 | |||||||
Accounts receivable, net | 213,808 | 101,301 | |||||||||
Inventories, net | 259,635 | 163,750 | |||||||||
Prepaid expenses and other | 59,347 | 63,036 | |||||||||
Total current assets | 582,164 | 545,764 | |||||||||
Property, plant, and equipment, net | 208,456 | 209,676 | |||||||||
Goodwill | 188,443 | 199,560 | |||||||||
Intangible assets, net | 148,418 | 166,887 | |||||||||
Other assets | 43,859 | 39,583 | |||||||||
Total assets | $ | 1,171,340 | $ | 1,161,470 | |||||||
Liabilities and Stockholders’ Equity | |||||||||||
Current liabilities: | |||||||||||
Current portion of long-term debt | $ | — | $ | — | |||||||
Current portion of finance lease obligations | 119 | 348 | |||||||||
Accounts payable | 181,251 | 104,425 | |||||||||
Other accrued liabilities | 106,607 | 130,980 | |||||||||
Total current liabilities | 287,977 | 235,753 | |||||||||
Long-term debt | 419,130 | 447,979 | |||||||||
Finance lease obligations | — | 30 | |||||||||
Deferred income taxes | 49,465 | 46,777 | |||||||||
Other non-current liabilities | 28,574 | 26,052 | |||||||||
Total liabilities | 785,146 | 756,591 | |||||||||
Commitments and contingencies | |||||||||||
Stockholders’ equity: | |||||||||||
Common stock 200,000,000 shares authorized, $0.01 par value, 49,574,651 and 52,536,482 shares outstanding, respectively | 759 | 755 | |||||||||
Additional paid-in capital | 652,530 | 644,695 | |||||||||
Retained earnings | 121,495 | 107,233 | |||||||||
Accumulated other comprehensive income | 21,866 | 7,633 | |||||||||
Treasury stock at cost, 26,358,147 and 23,004,607 common shares, respectively | (410,456) | (355,437) | |||||||||
Total stockholders' equity | 386,194 | 404,879 | |||||||||
Total liabilities and stockholders’ equity | $ | 1,171,340 | $ | 1,161,470 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Net sales | $ | 482,566 | $ | 351,584 | $ | 1,323,991 | $ | 1,077,811 | |||||||||||||||
Cost of sales | 431,521 | 308,390 | 1,170,172 | 963,553 | |||||||||||||||||||
Gross profit | 51,045 | 43,194 | 153,819 | 114,258 | |||||||||||||||||||
General and administrative expenses | 20,966 | 22,749 | 66,740 | 68,574 | |||||||||||||||||||
Selling expenses | 5,590 | 6,510 | 18,320 | 19,394 | |||||||||||||||||||
Amortization of intangible assets | 5,631 | 5,496 | 17,228 | 16,484 | |||||||||||||||||||
Impairment and other, net | 595 | 31 | (631) | 105,455 | |||||||||||||||||||
Income (loss) from operations | 18,263 | 8,408 | 52,162 | (95,649) | |||||||||||||||||||
Other income (expense): | |||||||||||||||||||||||
Interest expense | (5,847) | (5,749) | (18,031) | (17,903) | |||||||||||||||||||
Other, net | 232 | (57) | (195) | 348 | |||||||||||||||||||
Other expense, net | (5,615) | (5,806) | (18,226) | (17,555) | |||||||||||||||||||
Income (loss) before income tax expense (benefit) | 12,648 | 2,602 | 33,936 | (113,204) | |||||||||||||||||||
Income tax expense (benefit) | 1,640 | (1,285) | 7,459 | (10,298) | |||||||||||||||||||
Net income (loss) | $ | 11,008 | $ | 3,887 | $ | 26,477 | $ | (102,906) | |||||||||||||||
Net income (loss) per share: | |||||||||||||||||||||||
Basic | $ | 0.22 | $ | 0.07 | $ | 0.52 | $ | (1.94) | |||||||||||||||
Diluted | $ | 0.22 | $ | 0.07 | $ | 0.51 | $ | (1.94) | |||||||||||||||
Weighted average common shares outstanding (in thousands): | |||||||||||||||||||||||
Basic | 49,974 | 52,912 | 51,116 | 52,980 | |||||||||||||||||||
Diluted | 50,581 | 53,380 | 51,785 | 52,980 | |||||||||||||||||||
Dividends declared per share | $ | 0.08 | $ | 0.08 | $ | 0.24 | $ | 0.24 | |||||||||||||||
Nine Months Ended September 30, | |||||||||||
2021 | 2020 | ||||||||||
Cash flows from operating activities | |||||||||||
Net income (loss) | $ | 26,477 | $ | (102,906) | |||||||
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | |||||||||||
Depreciation | 19,593 | 18,656 | |||||||||
Amortization of intangibles | 17,228 | 16,484 | |||||||||
Net gain on sale of property, plant and equipment and business divestiture | (1,447) | (1,669) | |||||||||
Loss on debt extinguishment | 452 | 219 | |||||||||
Deferred income taxes | (1,756) | (753) | |||||||||
Stock-based compensation | 5,889 | 2,278 | |||||||||
Impairment | 817 | 107,114 | |||||||||
Non-cash interest expense | 882 | 807 | |||||||||
Accounts receivable | (118,176) | 68,095 | |||||||||
Inventories | (96,818) | (14,596) | |||||||||
Prepaid expenses and other | 1,054 | (3,086) | |||||||||
Accounts payable and accrued liabilities | 65,424 | 20,128 | |||||||||
Other, net | 6,152 | (3,672) | |||||||||
Net cash (used in) provided by operating activities | $ | (74,229) | $ | 107,099 | |||||||
Cash flows from investing activities | |||||||||||
Capital expenditures | (20,192) | (13,719) | |||||||||
Proceeds from the sale of assets and business divestiture | 21,967 | 2,726 | |||||||||
Net cash provided by (used in) investing activities | $ | 1,775 | $ | (10,993) | |||||||
Cash flows from financing activities | |||||||||||
Proceeds from exercise of stock options | 1,949 | 44 | |||||||||
Dividends paid | (12,470) | (13,015) | |||||||||
Borrowings under revolving credit facilities | 347 | 45,584 | |||||||||
Payments under revolving credit facilities | (347) | (45,584) | |||||||||
Principal payments under finance lease obligations | (259) | (244) | |||||||||
Borrowings under term loan credit facility, net of original issuance discount | — | 148,500 | |||||||||
Principal payments under term loan credit facility | (30,000) | (135,228) | |||||||||
Principal payments against senior notes | — | (10,000) | |||||||||
Debt issuance costs paid | (50) | (792) | |||||||||
Stock repurchases | (55,019) | (10,065) | |||||||||
Net cash used in financing activities | $ | (95,849) | $ | (20,800) | |||||||
Cash and cash equivalents: | |||||||||||
Net (decrease) increase in cash, cash equivalents, and restricted cash | $ | (168,303) | $ | 75,306 | |||||||
Cash, cash equivalents, and restricted cash at beginning of period | 217,677 | 140,516 | |||||||||
Cash, cash equivalents, and restricted cash at end of period | $ | 49,374 | $ | 215,822 | |||||||
Wabash National Corporation | ||||||||||||||||||||||||||
Three Months Ended September 30, | 2021 | 2020 | ||||||||||||||||||||||||
Units Shipped | ||||||||||||||||||||||||||
New trailers | 12,455 | 8,485 | ||||||||||||||||||||||||
New truck bodies | 3,780 | 3,600 | ||||||||||||||||||||||||
Used trailers | 15 | 140 | ||||||||||||||||||||||||
Three Months Ended September 30, | Transportation Solutions | Parts & Service | Corporate and Eliminations | Consolidated | ||||||||||||||||||||||
2021 | ||||||||||||||||||||||||||
New Trailers | $ | 375,430 | $ | — | $ | — | $ | 375,430 | ||||||||||||||||||
Used Trailers | — | 465 | — | 465 | ||||||||||||||||||||||
Components, parts and service | — | 31,974 | (1,973) | 30,001 | ||||||||||||||||||||||
Equipment and other | 67,206 | 9,464 | — | 76,670 | ||||||||||||||||||||||
Total net external sales | $ | 442,636 | $ | 41,903 | $ | (1,973) | $ | 482,566 | ||||||||||||||||||
Gross profit | $ | 44,705 | $ | 8,268 | $ | (1,928) | $ | 51,045 | ||||||||||||||||||
Income (loss) from operations | $ | 25,970 | $ | 4,148 | $ | (11,855) | $ | 18,263 | ||||||||||||||||||
Adjusted income (loss) from operations1 | $ | 25,970 | $ | 4,148 | $ | (11,855) | $ | 18,263 | ||||||||||||||||||
2020 | ||||||||||||||||||||||||||
New Trailers | $ | 251,998 | $ | 1,510 | $ | (444) | $ | 253,064 | ||||||||||||||||||
Used Trailers | 505 | 1,456 | — | 1,961 | ||||||||||||||||||||||
Components, parts and service | — | 29,369 | (2,587) | 26,782 | ||||||||||||||||||||||
Equipment and other | 54,854 | 14,923 | — | 69,777 | ||||||||||||||||||||||
Total net external sales | $ | 307,357 | $ | 47,258 | $ | (3,031) | $ | 351,584 | ||||||||||||||||||
Gross profit | $ | 34,528 | $ | 10,113 | $ | (1,447) | $ | 43,194 | ||||||||||||||||||
Income (loss) from operations | $ | 13,522 | $ | 5,878 | $ | (10,992) | $ | 8,408 | ||||||||||||||||||
Adjusted income (loss) from operations1 | $ | 13,522 | $ | 5,878 | $ | (9,836) | $ | 9,564 |
Wabash National Corporation | ||||||||||||||||||||||||||
Nine Months Ended September 30, | 2021 | 2020 | ||||||||||||||||||||||||
Units Shipped | ||||||||||||||||||||||||||
New trailers | 33,710 | 26,030 | ||||||||||||||||||||||||
New truck bodies | 13,330 | 10,130 | ||||||||||||||||||||||||
Used trailers | 70 | 430 | ||||||||||||||||||||||||
Nine Months Ended September 30, | Transportation Solutions | Parts & Service | Corporate and Eliminations | Consolidated | ||||||||||||||||||||||
2021 | ||||||||||||||||||||||||||
New Trailers | $ | 966,193 | $ | — | $ | — | $ | 966,193 | ||||||||||||||||||
Used Trailers | 165 | 1,690 | — | 1,855 | ||||||||||||||||||||||
Components, parts and service | — | 101,747 | (5,205) | 96,542 | ||||||||||||||||||||||
Equipment and other | 223,815 | 35,586 | — | 259,401 | ||||||||||||||||||||||
Total net external sales | $ | 1,190,173 | $ | 139,023 | $ | (5,205) | $ | 1,323,991 | ||||||||||||||||||
Gross profit | $ | 129,776 | $ | 28,912 | $ | (4,869) | $ | 153,819 | ||||||||||||||||||
Income (loss) from operations | $ | 69,492 | $ | 18,509 | $ | (35,839) | $ | 52,162 | ||||||||||||||||||
Adjusted income (loss) from operations1 | $ | 69,492 | $ | 16,635 | $ | (35,839) | $ | 50,288 | ||||||||||||||||||
2020 | ||||||||||||||||||||||||||
New Trailers | $ | 781,497 | $ | 3,098 | $ | (3,390) | $ | 781,205 | ||||||||||||||||||
Used Trailers | 2,979 | 4,106 | — | 7,085 | ||||||||||||||||||||||
Components, parts and service | — | 92,500 | (7,437) | 85,063 | ||||||||||||||||||||||
Equipment and other | 169,673 | 34,785 | — | 204,458 | ||||||||||||||||||||||
Total net external sales | $ | 954,149 | $ | 134,489 | $ | (10,827) | $ | 1,077,811 | ||||||||||||||||||
Gross profit | $ | 87,195 | $ | 31,301 | $ | (4,238) | $ | 114,258 | ||||||||||||||||||
Loss from operations | $ | (43,098) | $ | (21,466) | $ | (31,085) | $ | (95,649) | ||||||||||||||||||
Adjusted income (loss) from operations1 | $ | 25,159 | $ | 17,391 | $ | (29,929) | $ | 12,621 |
Adjusted Operating Income (Loss)1 | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Transportation Solutions | |||||||||||||||||||||||
Income (loss) from operations | $ | 25,970 | $ | 13,522 | $ | 69,492 | $ | (43,098) | |||||||||||||||
Adjustments: | |||||||||||||||||||||||
Impairment | — | — | — | 68,257 | |||||||||||||||||||
Adjusted operating income | $ | 25,970 | $ | 13,522 | $ | 69,492 | $ | 25,159 | |||||||||||||||
Parts & Service | |||||||||||||||||||||||
Income (loss) from operations | 4,148 | 5,878 | 18,509 | (21,466) | |||||||||||||||||||
Adjustments: | |||||||||||||||||||||||
Impairment | — | — | — | 38,857 | |||||||||||||||||||
Gain on divestiture of Extract Technology | — | — | (1,874) | — | |||||||||||||||||||
Adjusted operating income | 4,148 | 5,878 | 16,635 | 17,391 | |||||||||||||||||||
Corporate | |||||||||||||||||||||||
Loss from operations | (11,855) | (10,992) | (35,839) | (31,085) | |||||||||||||||||||
Adjustments: | |||||||||||||||||||||||
Debt transactions | — | 1,156 | — | 1,156 | |||||||||||||||||||
Adjusted operating loss | (11,855) | (9,836) | (35,839) | (29,929) | |||||||||||||||||||
Consolidated | |||||||||||||||||||||||
Income (loss) from operations | $ | 18,263 | $ | 8,408 | $ | 52,162 | $ | (95,649) | |||||||||||||||
Adjustments: | |||||||||||||||||||||||
Impairment | — | — | — | 107,114 | |||||||||||||||||||
Gain on divestiture of Extract Technology | — | — | (1,874) | — | |||||||||||||||||||
Debt transactions | — | 1,156 | — | 1,156 | |||||||||||||||||||
Adjusted operating income | $ | 18,263 | $ | 9,564 | $ | 50,288 | $ | 12,621 |
Operating EBITDA1: | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Net income (loss) | $ | 11,008 | $ | 3,887 | $ | 26,477 | $ | (102,906) | |||||||||||||||
Income tax expense (benefit) | 1,640 | (1,285) | 7,459 | (10,298) | |||||||||||||||||||
Interest expense | 5,847 | 5,749 | 18,031 | 17,903 | |||||||||||||||||||
Depreciation and amortization | 12,343 | 12,495 | 36,821 | 35,140 | |||||||||||||||||||
Stock-based compensation | 1,673 | 1,862 | 5,889 | 2,278 | |||||||||||||||||||
Debt issuance costs expensed | — | 1,156 | — | 1,156 | |||||||||||||||||||
Impairment and other, net | 595 | 31 | (631) | 105,455 | |||||||||||||||||||
Other, net | (232) | 57 | 195 | (348) | |||||||||||||||||||
Operating EBITDA | $ | 32,874 | $ | 23,952 | $ | 94,241 | $ | 48,380 |
Adjusted Net Income2: | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Net income (loss) | $ | 11,008 | $ | 3,887 | $ | 26,477 | $ | (102,906) | |||||||||||||||
Adjustments: | |||||||||||||||||||||||
Debt transactions3 | — | 1,375 | 452 | 1,375 | |||||||||||||||||||
Impairment | — | — | — | 107,114 | |||||||||||||||||||
Gain on divestiture of Extract Technology | — | — | (1,874) | — | |||||||||||||||||||
Tax effect of aforementioned items | — | (564) | 327 | (3,350) | |||||||||||||||||||
Adjusted net income | $ | 11,008 | $ | 4,698 | $ | 25,382 | $ | 2,233 |
Adjusted Diluted Earnings Per Share2: | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Diluted earnings per share | $ | 0.22 | $ | 0.07 | $ | 0.51 | $ | (1.94) | |||||||||||||||
Adjustments: | |||||||||||||||||||||||
Debt transactions3 | — | 0.03 | 0.01 | 0.03 | |||||||||||||||||||
Impairment | — | — | — | 2.02 | |||||||||||||||||||
Gain on divestiture of Extract Technology | — | — | (0.04) | — | |||||||||||||||||||
Tax effect of aforementioned items | — | (0.01) | 0.01 | (0.06) | |||||||||||||||||||
Adjusted diluted earnings per share | $ | 0.22 | $ | 0.09 | $ | 0.49 | $ | 0.04 | |||||||||||||||
Weighted average diluted shares outstanding (in thousands) | 50,581 | 53,380 | 51,785 | 53,299 |
Nine Months Ended September 30, | |||||||||||
2021 | 2020 | ||||||||||
Net cash (used in) provided by operating activities | $ | (74,229) | $ | 107,099 | |||||||
Capital expenditures | (20,192) | (13,719) | |||||||||
Free cash flow1 | $ | (94,421) | $ | 93,380 | |||||||
Transportation Solutions | Parts & Service | ||||||||||||||||||||||
Three Months Ended September 30, 2021 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Income from operations | $ | 25,970 | $ | 13,522 | $ | 4,148 | $ | 5,878 | |||||||||||||||
Depreciation and amortization | 10,617 | 10,278 | 1,062 | 1,337 | |||||||||||||||||||
Impairment and other, net | 109 | 108 | 492 | (156) | |||||||||||||||||||
Adjusted segment EBITDA | $ | 36,696 | $ | 23,908 | $ | 5,702 | $ | 7,059 | |||||||||||||||
Adjusted segment EBITDA margin | 8.3 | % | 7.8 | % | 13.6 | % | 14.9 | % |
Transportation Solutions | Parts & Service | ||||||||||||||||||||||
Nine Months Ended September 30, 2021 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Income (loss) from operations | $ | 69,492 | $ | (43,098) | $ | 18,509 | $ | (21,466) | |||||||||||||||
Depreciation and amortization | 31,455 | 29,437 | 3,674 | 4,024 | |||||||||||||||||||
Impairment and other, net | 935 | 66,231 | (1,560) | 39,229 | |||||||||||||||||||
Adjusted segment EBITDA | $ | 101,882 | $ | 52,570 | $ | 20,623 | $ | 21,787 | |||||||||||||||
Adjusted segment EBITDA margin | 8.6 | % | 5.5 | % | 14.8 | % | 16.2 | % |
Q3 2021 | Q2 2021 | Q1 2021 | Q4 2020 | Q3 2020 | Q2 2020 | Q1 2020 | Q4 2019 | Q3 2019 | Q2 2019 | Q1 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
REVENUE | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transportation Solutions | $ | 442,636 | $ | 402,300 | $ | 345,236 | $ | 361,279 | $ | 307,358 | $ | 302,687 | $ | 344,104 | $ | 533,640 | $ | 533,385 | $ | 572,376 | $ | 475,408 | |||||||||||||||||||||||||||||||||||||||||||
Parts & Service | $ | 41,903 | $ | 48,633 | $ | 48,487 | $ | 44,985 | $ | 47,258 | $ | 40,354 | $ | 46,877 | $ | 50,023 | $ | 51,814 | $ | 60,224 | $ | 63,958 | |||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME (LOSS) AND ADJUSTED OPERATING INCOME1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transportation Solutions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | $ | 25,970 | $ | 26,848 | $ | 16,674 | $ | 13,396 | $ | 13,522 | $ | 9,069 | $ | (65,689) | $ | 37,475 | $ | 41,687 | $ | 48,769 | $ | 25,958 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on divestiture of Beall brand | $ | — | $ | — | $ | — | $ | 2,119 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||
Impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 68,257 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||
Adjusted operating income1 | $ | 25,970 | $ | 26,848 | $ | 16,674 | $ | 15,515 | $ | 13,522 | $ | 9,069 | $ | 2,568 | $ | 37,475 | $ | 41,687 | $ | 48,769 | $ | 25,958 | |||||||||||||||||||||||||||||||||||||||||||
Parts & Service | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | $ | 4,148 | $ | 8,028 | $ | 6,333 | $ | 8,807 | $ | 5,878 | $ | 5,132 | $ | (32,476) | $ | 5,356 | $ | 6,609 | $ | 9,275 | $ | 10,282 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on divestiture of Extract Technology | $ | — | $ | (1,874) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||
Gain on sale of Columbus branch | $ | — | $ | — | $ | — | $ | (2,257) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||
Impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 38,857 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||
Adjusted operating income1 | $ | 4,148 | $ | 6,154 | $ | 6,333 | $ | 6,550 | $ | 5,878 | $ | 5,132 | $ | 6,381 | $ | 5,356 | $ | 6,609 | $ | 9,275 | $ | 10,282 | |||||||||||||||||||||||||||||||||||||||||||
UNITS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New trailers | 12,455 | 11,595 | 9,660 | 10,585 | 8,485 | 8,425 | 9,120 | 14,980 | 14,470 | 14,965 | 13,095 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
New truck bodies | 3,780 | 4,790 | 4,760 | 3,300 | 3,600 | 3,025 | 3,505 | 5,090 | 6,460 | 8,060 | 6,225 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Used trailers | 15 | 15 | 40 | 170 | 140 | 220 | 70 | 40 | 35 | 30 | 45 |
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Cover Page Cover Page |
Nov. 09, 2021 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Nov. 09, 2021 |
Entity Registrant Name | WABASH NATIONAL CORPORATION |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 001-10883 |
Entity Tax Identification Number | 52-1375208 |
Entity Address, Address Line One | 3900 McCarty Lane |
Entity Address, City or Town | Lafayette |
Entity Address, State or Province | IN |
Entity Address, Postal Zip Code | 47905 |
City Area Code | 765 |
Local Phone Number | 771-5310 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $0.01 par value |
Trading Symbol | WNC |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
Amendment Flag | false |
Entity Central Index Key | 0000879526 |
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