Growth Continues for Wabash National
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowLafayette-based Wabash National Corp. (NYSE: WNC) is reporting second quarter net income of $35.5 million, up from $28.6 million during the same period the previous year. Chief Executive Officer Dick Giromini says the results represent the best performance in the company’s history.
Giromini says the company set records for gross profit, income from operations and operating EBITDA. "In addition, we established new records for gross profit margin and operating income margin of 19.3 percent and 12.5 percent, respectively, far surpassing the previous records set in the first quarter of 2016. The record financial performances of the Company over the past several quarters further demonstrate our commitment to operational excellence leveraging our long-standing expertise in lean manufacturing and process improvements, our continued strategy to favor margin over volume in the core trailer business as well as a strong demand environment within our Commercial Trailer Products segment.”
The results continue the upward trend for the company. In April, Wabash National reported the best first quarter performance in the company’s history.
Wabash National is also reporting second quarter net sales of $471 million, down 8 percent from $515 million during the same period last year. You can view the full second quarter earnings report by clicking here.