The truck company reported earnings of 26 cents a share for the quarter, below the 27 cents a share analysts surveyed by Thomson Reuters expected. Revenue grew 11.8% year over year to $491.7 million for the quarter, below analysts' estimates of $506.37 million for the quarter.
"New trailer shipments for the third quarter were 15,600, consistent with our previous guidance of 15,000 to 16,000 trailers," Wabash president and CEO Dick Gironimi said in a statement. "We anticipate continued strength in customer demand for our products as total new trailer shipments for the full year are now expected to be in the range of 54,500 to 56,000 units, representing an increase of 16 percent to 20 percent from the prior year."
TheStreet Ratings team rates WABASH NATIONAL CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate WABASH NATIONAL CORP (WNC) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
You can view the full analysis from the report here: WNC Ratings Report