Wabash National Corp income statement
In fiscal 2025, Wabash National Corp reported revenue of $1.54bn, down 20.8% on the year before, operating income of $308m (a 19.9% margin) and net income of $211m, or $5.07 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 338 | 640 | 1,187 | 1,462 | 1,636 | 1,863 | 2,027 | 1,845 | 1,767 | 2,267 | 2,319 | 1,482 | 1,803 | 2,502 | 2,537 | 1,947 | 1,543 | 1,518 |
| Cost of revenue | 361 | 612 | 1,121 | 1,298 | 1,421 | 1,631 | 1,724 | 1,520 | 1,506 | 1,984 | 2,013 | 1,322 | 1,607 | 2,179 | 2,038 | 1,682 | 1,473 | 1,505 |
| Gross profit | −23 | 28 | 67 | 164 | 215 | 233 | 303 | 326 | 261 | 284 | 306 | 160 | 196 | 323 | 498 | 265 | 70 | 13 |
| Research and development | — | 1 | 1 | 2 | 3 | 2 | 5 | 6 | 4 | 9 | 20 | 22 | 14 | 5 | 8 | 9 | 6 | — |
| Selling, general and administrative | — | — | — | — | — | — | — | — | — | — | — | — | — | 156 | 186 | 621 | — | — |
| General and administrative | 32 | 30 | 31 | 45 | 59 | 62 | 73 | 74 | 78 | 95 | 108 | 93 | 89 | — | — | — | — | — |
| Operating income | −66 | −15 | 20 | 70 | 103 | 122 | 180 | 203 | 131 | 111 | 143 | −86 | 34 | 167 | 312 | −356 | 308 | −158 |
| Interest expense | 4 | 4 | 4 | 22 | 26 | 22 | 20 | 16 | 16 | 29 | 27 | 24 | 23 | 21 | 20 | 20 | 21 | 25 |
| Income before tax | −105 | −142 | 15 | 49 | 78 | 98 | 163 | 185 | 123 | 96 | 118 | −109 | 1 | 146 | 295 | −377 | 283 | −182 |
| Income tax | −3 | −0 | 0 | −57 | 31 | 38 | 59 | 66 | 11 | 27 | 28 | −12 | 0 | 34 | 63 | −94 | 72 | −44 |
| Net income | −102 | −142 | 15 | 106 | 47 | 61 | 104 | 119 | 111 | 69 | 90 | −97 | 1 | 112 | 231 | −284 | 211 | −139 |
| Diluted EPS | −$3.48 | −$3.36 | $0.22 | $1.53 | $0.67 | $0.85 | $1.50 | $1.82 | $1.78 | $1.19 | $1.62 | −$1.84 | $0.02 | $2.25 | $4.81 | −$6.40 | $5.07 | −$3.39 |
| Diluted shares (average) | — | 50m | 68m | 69m | 69m | 71m | 69m | 66m | 63m | 58m | 55m | 53m | 52m | 50m | 48m | 44m | 42m | 41m |
| EBITDA | −46 | 1 | 35 | 96 | 142 | 161 | 218 | 239 | 166 | 152 | 185 | −38 | 82 | 214 | 357 | −299 | 366 | −100 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 417 | 381 | 459 | 382 | 321 | 303 | 417 | 476 |
| Cost of revenue | 374 | 362 | 417 | 366 | 328 | 314 | 402 | 462 |
| Gross profit | 43 | 19 | 41 | 16 | −6 | −11 | 15 | 15 |
| General and administrative | 31 | — | — | — | — | — | — | — |
| Operating income | 4 | 315 | −5 | 58 | −60 | −52 | −25 | −20 |
| Interest expense | 5 | 5 | 5 | 5 | 6 | 6 | 7 | 7 |
| Income before tax | −2 | 309 | −12 | 52 | −66 | −58 | −31 | −27 |
| Income tax | −1 | 78 | −3 | 12 | −16 | −13 | −9 | −6 |
| Net income | −1 | 231 | −10 | 40 | −50 | −45 | −23 | −21 |
| Diluted EPS | −$0.02 | $5.36 | −$0.23 | $0.97 | −$1.23 | −$1.11 | −$0.56 | −$0.51 |
| EBITDA | 20 | 330 | 9 | 72 | −45 | −37 | −12 | −6 |
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