U.S. Markets close in 2 hrs 46 mins

Wabash National Reports Record Second Quarter Revenue

FreightWaves

Semi-trailer builder Wabash National Corporation (NYSE: WNC) on Wednesday, July 31, reported all-time record second quarter revenue and its strongest operating margin in two years.

Wabash, which also makes liquid tankers, said net sales for the period ending June 30 rose 2 percent to $626 million from $613 million in the same quarter of 2018. Operating income was $47.5 million. The consolidated operating margin was 7.6 percent, a slight year-over-year improvement.

Second quarter net income was $30.9 million, or 56 cents per diluted share, compared with $31.9 million, or 54 cents per share a year ago.

Wabash National raised its full-year earnings per share estimate to $1.65 as a midpoint from $1.60. The company's second-half outlook "remains unchanged as our stable backlogs give us visibility to strong revenue," Brent Yeagy, Wabash president and chief executive officer, said in a statement.  

The consensus of four analysts who cover Wabash National was 48 cents a share with revenue at $613 million.

Image sourced from Pixabay

See more from Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.