Lafayette-based Wabash National Corp. (NYSE: WNC) is reporting second quarter net income of $22.9 million, down from $35.5 million during the same period last year. Despite the drop, Chief Executive Officer Dick Giromini calls the results "solid," saying they represent the second-strongest second quarter in the company’s history.
Giromini says the earnings rank behind only last year’s performance. However, he says "we recognize we can do better."
"The Commercial Trailer Products team successfully achieved targets in cost management and execution, which is reflected in the segment’s continued delivery of strong margins and operating performance," Giromini said in a news release. "We continue efforts to drive ongoing productivity improvements throughout the enterprise, accelerating actions to optimize the cost structure and performance of the Diversified Products segment while developing new opportunities to grow our top line and margins."
Net sales for the quarter totaled $436 million, down 8 percent from 2016. You can connect to the full second quarter earnings report by clicking here.