Wabash Q1 Net Income Rises; Increases 2023 EPS Outlook

(RTTNews) - Wabash (WNC) reported that its first quarter net income to stockholders increased to $51.2 million from $12.1 million, last year. Earnings per share was $1.04 compared to $0.24. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.48, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $621.0 million, up 13.6% from the prior year quarter as the company continued to execute well on customer demand. Analysts on average had estimated $625.33 million in revenue.

For the full-year ending December 31, 2023, the company maintained its revenue outlook with a range of $2.8 billion to $3.0 billion and a revenue midpoint of $2.9 billion. The company increased its EPS guidance to a range of $4.00 to $4.50 with an EPS midpoint of $4.25.

Shares of Wabash are up 11% in pre-market trade on Wednesday.

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