Lafayette-based Wabash National Corp. (NYSE: WNC) is reporting second quarter net income of $31.9 million, up from $22.9 million during the same period last year. Chief Executive Officer Brent Yeagy says record quarterly revenue is "directly attributable" to last year’s acquisition of Goshen-based Supreme Industries Inc.
That acquisition, which closed in September of 2017, had a $364 million equity value and made Supreme a subsidiary of Wabash National. Supreme is part of Wabash National’s Final Mile Products Unit, which Yeagy says "will help drive future growth for Wabash National."
The semi-trailer, truck body and liquid transportation system manufacturer also reported record quarter net sales of $613 million, up 41 percent from $436 million during the same quarter last year. Yeagy says backlog of $1.2 billion "remains seasonally and historically strong."
Yeagy was named CEO in December, succeeding Dick Giromini. He began his tenure in June. Giromini will remain as an executive advisor with the company through June 1, at which point he will retire from the company.
You can find more information on the quarterly report by clicking here.