Wabash Q3 Profit Surges, Despite Decline In Revenue; Lifts FY23 EPS View

(RTTNews) - Farm & heavy construction machinery provider Wabash ( WNC) Wednesday announced a surge in third-quarter profit, despite 3.4 percent decline in revenues. Further, the company raised its full-year earnings above analysts' view and narrowed its revenue outlook.

The quarterly profit was $55.48 million or $1.16 per share compared to $36.36 million or $0.73 per share in the previous month.

On average, 3 analysts polled by Thomson Reuters expected the company to earn $1.02 per shares. Analysts' estimates usually exclude special items.

Net sales for the third quarter were $632.83 million, down from $655.15 million in the prior year. Street estimates were $678.43 million.

Looking ahead to the full year 2023, the company raised its earnings by $0.20 to a range of $4.60 to $4.70 with a midpoint of $4.65. The Company narrowed its revenue outlook to approximately $2.6 billion. Analysts expect $4.5 per share on revenue of $2.65 billion.