$WNC
WABASH NATIONAL Corp

2018 Q2 Form 10-Q Financial Statement

#000114420418042846 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $612.7M $435.9M
YoY Change 40.56% -7.54%
Cost Of Revenue $527.4M $368.2M
YoY Change 43.22%
Gross Profit $85.32M $67.68M
YoY Change 26.06% -25.68%
Gross Profit Margin 13.92% 15.53%
Selling, General & Admin $34.33M $24.92M
YoY Change 37.8%
% of Gross Profit 40.24% 36.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $34.33M $24.92M
YoY Change 37.8%
Operating Profit $46.04M $38.67M
YoY Change 19.07%
Interest Expense $7.151M $2.888M
YoY Change 147.61%
% of Operating Profit 15.53% 7.47%
Other Income/Expense, Net -$3.114M $325.0K
YoY Change -1058.15%
Pretax Income $42.93M $36.11M
YoY Change 18.89%
Income Tax $11.00M $13.16M
% Of Pretax Income 25.62% 36.45%
Net Earnings $31.90M $22.95M
YoY Change 39.04% -35.42%
Net Earnings / Revenue 5.21% 5.26%
Basic Earnings Per Share $0.55 $0.38
Diluted Earnings Per Share $0.54 $0.36
COMMON SHARES
Basic Shares Outstanding 57.88M shares 59.90M shares
Diluted Shares Outstanding 59.27M shares 63.21M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $119.2M $178.6M
Short-Term Investments
Other Short-Term Assets $14.15M
YoY Change
Inventory $234.1M
Prepaid Expenses
Receivables $193.5M
Other Receivables
Total Short-Term Assets $604.1M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $195.5M
YoY Change
Goodwill $316.0M
YoY Change
Intangibles $226.6M
YoY Change
Long-Term Investments
YoY Change
Other Assets $26.86M
YoY Change
Total Long-Term Assets $765.0M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $604.1M
Total Long-Term Assets $765.0M
Total Assets $1.369B $932.4M
YoY Change 46.84% -5.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $184.0M
YoY Change
Accrued Expenses $122.6M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $1.880M
YoY Change
Total Short-Term Liabilities $308.7M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $503.6M
YoY Change
Other Long-Term Liabilities $19.97M
YoY Change
Total Long-Term Liabilities $523.6M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $308.7M
Total Long-Term Liabilities $523.6M
Total Liabilities $832.2M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $142.7M
YoY Change
Common Stock $744.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $265.9M
YoY Change
Treasury Stock Shares 17.23M shares 14.61M shares
Shareholders Equity $499.2M
YoY Change
Total Liabilities & Shareholders Equity $1.369B $932.4M
YoY Change 46.84% -5.49%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $31.90M $22.95M
YoY Change 39.04% -35.42%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<div style="text-align:left;"><table style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; border-image: initial; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%; table-layout: fixed;"><tr><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0px; vertical-align: top; width: 0.3pt; font-size: 10pt; line-height: 10pt;"></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; width: 36pt; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">1.</div></div></div></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: justify; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">BASIS OF PRESENTATION</div></div></div></td></tr></table></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The condensed consolidated financial statements of Wabash National Corporation (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 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 cash flows. 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, 2017.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4037000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
325000 USD
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.54
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.68
us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
20800000 BRL
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Trading Symbol
TradingSymbol
WNC
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
46564000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-30656000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
42927000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
36105000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
69044000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
64711000 USD
CY2018Q2 us-gaap Long Term Debt
LongTermDebt
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CY2017Q4 us-gaap Long Term Debt
LongTermDebt
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15870000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21593000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11025000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
56057000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
60748000 USD
CY2012Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Contingent Liability
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContingentLiability
2900000 USD
CY2018Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
57209388 shares
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1756000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3998000 USD
CY2018Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
6183000 USD
CY2017Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
7122000 USD
CY2018Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
1880000 USD
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
46020000 USD
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.12
CY2018Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.075
CY2017Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.06
CY2018Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
1880000 USD
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
46020000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
72792000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
35285000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
1691000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1147000 USD
CY2018Q2 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
281000 USD
CY2017Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
290000 USD
CY2017Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
551412000 USD
CY2018Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
506617000 USD
CY2018Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
504091000 USD
CY2018Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
183966000 USD
CY2017Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
108448000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
40471000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
75244000 USD
CY2018Q2 us-gaap Assets
Assets
1369131000 USD
CY2017Q2 us-gaap Assets
Assets
932411000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
19500000 USD
CY2018Q2 us-gaap Liabilities Current
LiabilitiesCurrent
308679000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
283668000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11117000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10856000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
16426000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3736000 USD
us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
1500000 USD
CY2018Q2 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
879000 USD
CY2017Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
1012000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-3060000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1220000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
8369000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5900000 USD
CY2018Q2 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
36808000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
36955000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
19974000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
19724000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
910000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5630000 USD
CY2018Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2017Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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us-gaap Payments Of Dividends
PaymentsOfDividends
9271000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
7767000 USD
CY2018Q2 us-gaap Common Stock Value
CommonStockValue
744000 USD
CY2017Q4 us-gaap Common Stock Value
CommonStockValue
737000 USD
CY2018Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
624209000 USD
CY2017Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
653435000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
423000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
371000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
423000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
371000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
142747000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
98728000 USD
CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2620000 USD
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2385000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
143000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
303000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
189470000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
265865000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
244452000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
499215000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
506063000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
940000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
190418000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
92000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
311000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
354000 USD
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-80200000 USD
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
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us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
21413000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
42794000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-111149000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-54178000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-62309000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
15166000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
191521000 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
163467000 USD
CY2018Q2 wnc Liquidity Position To Meet Future Obligations Amount
LiquidityPositionToMeetFutureObligationsAmount
287700000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
100000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
100000 USD
CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1369131000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1351513000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
195546000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
195363000 USD
CY2018Q2 us-gaap Goodwill
Goodwill
315977000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
317464000 USD
CY2018Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
226618000 USD
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
237030000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
26860000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
25265000 USD
CY2018Q2 us-gaap Assets
Assets
1369131000 USD
CY2017Q4 us-gaap Assets
Assets
1351513000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
5200000 USD

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