Date Symbol Name Sector Industry Short Volume Long Volume Total Volume Short% 2012-08-06 WNC Wabash National Corp. Consumer Goods Trucks & Other Vehicles 96995 92774 189769 51 2012-08-03 WNC Wabash National Corp. Consumer Goods Trucks & Other Vehicles 94526 151997 246523 38 2012-08-02 WNC Wabash National Corp. Consumer Goods Trucks & Other Vehicles 179581 207760 387341 46 2012-08-01 WNC Wabash National Corp. Consumer Goods Trucks & Other Vehicles 301118 391316 692434 43
I wonder how the corporate long-term memory works but looking at Q3 Balance sheet...I have visions of Transcraft! Once again, they purchased at the peak of an industry segment. In Q3, following the Walker deal,Goodwill & Intangible assets increased by 310,000,000 Long-term debt increased by 374,000,000 Equity by less then 30,000,000
Will WNC, once again, have to write off all of these soft-assets at the next down turn of this industry? ...Do not think the Walker revenues are more stable when the industry goes down.
Since we are at the beginning of the cyclical trailer repurchase I think we are ok right now. This down turn you think is coming won't come for 2 or 3 years from now. Where have you been, we are at the oldest stage of trailer age in history. Last year was the start of the new cycle, trucking companies have to replenish their trailers because of aging fleets. Now last year didn't hit the height they expected, I think we all know the reason was the cost of fuel being a major factor, and the state of the economy being in flux. And lastly the end of year has been great for the trucking industry, working in the industry I can say from experience, the major reason comes down to end of year budgets. When they save money thru fuel or revenues being up they take the excess and purchase the trailers they need.
So I think your scare tactic won't work on this site, I think you better just go ahead and cover your short interest. Look at the numbers we are at the same price we were a year ago and profits are up, the purchase of Walker has diversified the company, and margins are greater on trailers. (so much so that the company is turning away low margin trailers to build because its the smart business move) I think if a company can pick and choose what trailers they want to build to get better margins, I think we are in good shape!!!