Wabash Q1 Results Better Than View; Raises Annual Outlook Above Consensus

(RTTNews) - Wabash National Corporation (WNC) Wednesday reported net earnings of $12.07 million or $0.24 per share in the first quarter, higher than $3.22 million or $0.06 per share in the same quarter a year ago.

The consensus estimate of 5 analysts polled by Thomson Reuters stood at $0.11 per share. Analysts' estimates typically exclude special items.

Net sales for the first quarter increased to $546.76 million from $392.00 million a year ago, on strong demand. Analysts' expectation was for $476.28 million.

Looking forward, the company has raised its earnings outlook to $1.90 per share from $1.75 and revenue outlook to $2.5 billion from $2.3 billion, provided earlier.

On average, analysts expect the company to report earnings of $1.72 per share on revenue of $2.28 billion for the period.

Wabash provides engineered solutions for the transportation, logistics, and distribution industries.

Wabash shares are up more than 4% in pre-market. It closed at $13.83, down 2.26% on Tuesday.