Wabash National Reports Q3 2025 Earnings Amid Market Challenges
Wabash National Corporation reported Q3 2025 earnings with revenue of $382 million, below expectations due to weaker demand in its Truck Body segment. The Parts & Services segment saw growth. GAAP operating income was $58 million, aided by an $81 million legal settlement, while non-GAAP adjusted operating loss was $24 million. GAAP EPS was $0.97, but non-GAAP adjusted EPS showed a loss of $0.51. The backlog stood at $829 million. The company revised its 2025 revenue outlook to $1.5 billion and adjusted EPS guidance to $(1.95) to $(2.05), while remaining cautiously optimistic for 2026 recovery.
Wabash National Corporation, headquartered in Lafayette, Indiana, is a leading provider of innovative supply chain solutions for the transportation, logistics, and infrastructure markets, offering a wide range of products including trailers, truck bodies, and specialty equipment.
In its third-quarter 2025 earnings report, Wabash National reported a revenue of $382 million, which fell short of expectations due to softer demand, particularly in its Truck Body business. Despite this, the Parts & Services segment showed positive revenue growth both sequentially and year-over-year.
The company reported a GAAP operating income of $58 million, largely influenced by an $81 million gain from a legal settlement, while the non-GAAP adjusted operating loss stood at $24 million. The quarterly GAAP earnings per share were $0.97, but on a non-GAAP adjusted basis, the company reported a loss of $0.51 per share. The total backlog at the end of the third quarter was $829 million, reflecting ongoing market challenges.
Wabash has adjusted its full-year 2025 revenue outlook to $1.5 billion and reduced its non-GAAP adjusted EPS guidance to a range of $(1.95) to $(2.05). The company remains cautiously optimistic about a potential recovery in 2026, driven by pent-up replacement needs and improving freight conditions.
Looking ahead, Wabash National aims to navigate the current economic headwinds while maintaining its commitment to long-term growth. The company’s management is focused on managing costs and leveraging its strong balance sheet to support future opportunities in the evolving market landscape.
