Wabash National Maintains FY24 Outlook; Q1 Results Miss Estimates
(RTTNews) - While reporting financial results for the first quarter on Wednesday, Wabash National Corp. (WNC) maintained its earnings outlook for the full-year 2024, as first-quarter shipment delays to flow into subsequent quarters.
For fiscal 2024, the company continues to project earnings in the range of $2.00 to $2.50 per share on revenues between about $2.2 billion and $2.4 billion.
On average, three analysts polled by Thomson Reuters expect the company to report earnings of $2.19 per share on revenues of $2.25 billion for the year. Analysts' estimates typically exclude special items.
For the first quarter, the company reported net income attributable to common stockholders of $18.17 million or $0.39 per share, sharply down from $51.21 million or $1.04 per share in the prior-year quarter.
Net sales for the quarter declined 17.0 percent to $515.28 million from $620.95 million in the same quarter last year.
The Street was looking for earnings of $0.45 per share on net sales of $516.85 million for the quarter.
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