2024 Q4 Form 10-Q Financial Statement

#000087952624000049 Filed on October 24, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $464.0M
YoY Change -26.67%
Cost Of Revenue $408.0M
YoY Change -19.98%
Gross Profit $56.01M
YoY Change -54.43%
Gross Profit Margin 12.07%
Selling, General & Admin $486.2M
YoY Change 1059.72%
% of Gross Profit 868.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.94M
YoY Change 11.34%
% of Gross Profit 24.89%
Operating Expenses $486.2M
YoY Change 1059.72%
Operating Profit -$433.0M
YoY Change -657.76%
Interest Expense -$6.635M
YoY Change -234.53%
% of Operating Profit
Other Income/Expense, Net -$3.574M
YoY Change -12.57%
Pretax Income -$438.3M
YoY Change -695.9%
Income Tax -$108.4M
% Of Pretax Income
Net Earnings -$330.2M
YoY Change -696.73%
Net Earnings / Revenue -71.15%
Basic Earnings Per Share -$7.53
Diluted Earnings Per Share -$7.53
COMMON SHARES
Basic Shares Outstanding 43.34M shares 44.00M shares
Diluted Shares Outstanding 43.83M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.84M
YoY Change -22.27%
Cash & Equivalents $81.84M
Short-Term Investments
Other Short-Term Assets $2.487M
YoY Change -56.71%
Inventory $260.6M
Prepaid Expenses
Receivables $238.7M
Other Receivables $15.62M
Total Short-Term Assets $639.5M
YoY Change -11.31%
LONG-TERM ASSETS
Property, Plant & Equipment $376.3M
YoY Change 7.66%
Goodwill $188.4M
YoY Change 0.01%
Intangibles $77.36M
YoY Change -13.68%
Long-Term Investments $0.00
YoY Change
Other Assets $109.5M
YoY Change 54.41%
Total Long-Term Assets $815.9M
YoY Change 22.08%
TOTAL ASSETS
Total Short-Term Assets $639.5M
Total Long-Term Assets $815.9M
Total Assets $1.455B
YoY Change 4.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $187.6M
YoY Change -8.61%
Accrued Expenses $151.7M
YoY Change -19.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $339.3M
YoY Change -13.72%
LONG-TERM LIABILITIES
Long-Term Debt $397.0M
YoY Change 0.17%
Other Long-Term Liabilities $517.9M
YoY Change 1089.27%
Total Long-Term Liabilities $914.9M
YoY Change 108.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $339.3M
Total Long-Term Liabilities $914.9M
Total Liabilities $1.254B
YoY Change 44.13%
SHAREHOLDERS EQUITY
Retained Earnings $110.0M
YoY Change -69.21%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $594.9M
YoY Change 16.12%
Treasury Stock Shares
Shareholders Equity $200.5M
YoY Change
Total Liabilities & Shareholders Equity $1.455B
YoY Change 4.75%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$330.2M
YoY Change -696.73%
Depreciation, Depletion And Amortization $13.94M
YoY Change 11.34%
Cash From Operating Activities $42.78M
YoY Change -26.59%
INVESTING ACTIVITIES
Capital Expenditures $15.99M
YoY Change -46.64%
Acquisitions
YoY Change
Other Investing Activities -$256.0K
YoY Change
Cash From Investing Activities -$16.25M
YoY Change -45.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -21.97M
YoY Change 0.78%
NET CHANGE
Cash From Operating Activities 42.78M
Cash From Investing Activities -16.25M
Cash From Financing Activities -21.97M
Net Change In Cash 4.557M
YoY Change -29.86%
FREE CASH FLOW
Cash From Operating Activities $42.78M
Capital Expenditures $15.99M
Free Cash Flow $26.79M
YoY Change -5.35%

Facts In Submission

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DESCRIPTION OF THE BUSINESS &amp; BASIS OF PRESENTATION<div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Wabash National Corporation (the “Company,” “Wabash,” “we,” “our,” or “us”) was founded in 1985 and incorporated as a corporation in Delaware in 1991, with its principal executive offices in Lafayette, Indiana. The Company was founded as a dry van trailer manufacturer—today, the Company enables customers to thrive by providing insight into tomorrow and delivering pragmatic solutions today to move everything from first to final mile. The Company designs, manufactures, and services a diverse range of products, including dry freight and refrigerated trailers, platform trailers, tank trailers, dry and refrigerated truck bodies, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade processing equipment. This diversification has been achieved through acquisitions, organic growth, and product innovation.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The condensed consolidated financial statements of the Company have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the accompanying condensed consolidated financial statements contain all material adjustments (consisting only of normal recurring adjustments) necessary to present fairly the consolidated financial position of the Company, its results of operations, and its cash flows. The Company consolidates into its financial statements the accounts of the Company and any partially owned subsidiary it has the ability to control (see Note 5). The Company does not have any subsidiaries it consolidates based solely on the power to direct the activities and significant participation in the entity’s expected results that would not otherwise be consolidated based on control through voting interests. Further, its affiliates are businesses established and maintained in connection with its operating strategy and are not special purposes entities. All intercompany transactions and balances have been eliminated.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The condensed consolidated financial statements included herein should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.</span></div>
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CY2023Q4 us-gaap Long Term Debt
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3030000 usd
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3535000 usd
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CY2023Q4 us-gaap Long Term Debt Current
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32219000 usd
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CY2023Q4 wnc Operating Leaseand Finance Lease Rightof Use Asset
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3202000 usd
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12268000 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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CY2024Q3 wnc Operating Lease And Finance Lease Liability To Be Paid Year One
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11132000 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Two
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CY2024Q3 wnc Operating Lease And Finance Lease Liability To Be Paid Year Two
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CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Three
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2550000 usd
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2550000 usd
CY2024Q3 wnc Lessee Operating Lease Liability To Be Paid Due After Year Four
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2946000 usd
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324000 usd
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us-gaap Operating Lease Lease Income
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580000 usd
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27312000 usd
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14180000 usd
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CY2023Q4 us-gaap Self Insurance Reserve
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CY2023Q4 us-gaap Interest Payable Current
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24662000 usd
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9393000 usd
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CY2023Q4 us-gaap Product Warranty Accrual
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21286000 usd
CY2022Q4 us-gaap Product Warranty Accrual
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22061000 usd
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3811000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2705000 usd
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4533000 usd
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3255000 usd
CY2024Q3 us-gaap Product Warranty Accrual
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20564000 usd
CY2023Q3 us-gaap Product Warranty Accrual
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21511000 usd
CY2024Q3 us-gaap Cash Surrender Value Fair Value Disclosure
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21695000 usd
CY2023Q4 us-gaap Cash Surrender Value Fair Value Disclosure
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18510000 usd
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CY2023Q4 us-gaap Long Term Debt Fair Value
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32600000 usd
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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542 shares
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CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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180870000 usd
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43832000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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180870000 usd
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43832000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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47373000 shares
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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43832000 shares
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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328000 usd
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CY2023Q3 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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CY2023Q3 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q3 us-gaap Operating Income Loss
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1529926000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-359690000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1940400000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1940400000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
250847000 usd
CY2024Q3 wnc Number Of Product Categories
NumberOfProductCategories
4 product_category
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
464040000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
632828000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1529926000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1940400000 usd
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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wnc-20240930_def.xml Edgar Link unprocessable
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wnc-20240930_lab.xml Edgar Link unprocessable
wnc-20240930_pre.xml Edgar Link unprocessable
wnc-20240930_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable