Wabash National Corporation reported a significant decline in financial performance for the second quarter of 2025, with net sales of $458.8 million, down 16.7% from $550.6 million in the same period last year. The decrease was primarily attributed to a 6.5% drop in new trailer shipments and an 18.7% decline in new truck body shipments. Gross profit also fell sharply to $41.4 million, representing a gross margin of 9.0%, compared to 16.3% in the prior year. The company's loss from operations was $4.8 million, a stark contrast to the $43.8 million profit recorded in the second quarter of 2024.
In the first half of 2025, Wabash National's net sales totaled $839.7 million, a decrease of 21.2% from $1.065 billion in the same period of 2024. The Transportation Solutions segment saw a 22.9% decline in sales, while the Parts & Services segment experienced a modest increase of 7.3%. The overall gross profit for the first six months was $60.4 million, down from $166.1 million in the previous year, with a gross margin of 7.2% compared to 15.6% in 2024.
The company has made strategic moves to enhance its operations, including the acquisition of Trailerhawk.AI, LLC for $2.5 million, aimed at integrating artificial intelligence and telematics into its service offerings. This acquisition is expected to bolster Wabash's recurring revenue initiatives, particularly in its Parts and Services segment. Additionally, Wabash has continued to focus on its Trailers as a Service (TaaS) initiative, which combines its trailer products with emerging capabilities in parts distribution and maintenance services.
Operationally, Wabash National's liquidity position stood at $312 million as of June 30, 2025, a decrease from $421.9 million at the end of 2024. The company reported cash used in operating activities of $16.1 million for the first half of 2025, compared to $6.4 million in the same period last year. The company also noted a significant increase in accounts payable and accrued liabilities, which rose by $40.1 million during the first six months of 2025. Looking ahead, Wabash anticipates continued challenges due to economic uncertainty and softening demand for certain products, but remains committed to optimizing operations and maintaining strong liquidity.
About WABASH NATIONAL Corp
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