Wabash Trailer Shipments Rise as Backlog Growth Accelerates

The Tip Desk · November 10, 2026 · 2 min read

Third-quarter sales reached $476.4 million, up 24.8% from a year earlier, and backlog rose to $1,198 million as of September 30.

Wabash National Corporation (WNC), a Lafayette, Indiana-based maker of dry freight and refrigerated trailers, truck bodies and related equipment, reported third-quarter net sales of $476.4 million, a 24.8% increase from the year-ago quarter after a 9.1% year-over-year decline in the second quarter.

The sequential rebound was the quarter’s defining turn. Sales rose 14.2% from the $417.2 million second-quarter level. The company said the increase reflected strong shipments in its core dry van market.

New trailer shipments were 9,563, up from 8,292 in the second quarter and from 6,675 a year earlier. Truck-body shipments were 1,685, compared with 1,380 in the prior quarter.

Transportation Solutions, the trailer and truck-body franchise, generated net sales of $407.9 million, a 21.9% year-over-year increase after an 11.4% year-over-year decline in the second quarter. Its operating loss narrowed to $7.5 million, or 1.8% of sales, from a $13.9 million loss, or 3.9% of sales, in the second quarter.

Parts & Services net sales were $69.4 million, up 13.8% from a year earlier after 6.1% year-over-year growth in the second quarter. Operating income was $5.8 million, or 8.3% of sales.

Consolidated gross profit was $15 million, or 3.1% of sales, down from 3.7% in the second quarter. GAAP operating loss was $20 million, after a $7.5 million gain on the sale of a manufacturing facility and $0.5 million of facility idling costs. Excluding those items, Non-GAAP adjusted operating loss was $27 million. GAAP diluted loss was $(0.51) a share; Non-GAAP adjusted loss was $(0.63) a share.

Total backlog stood at approximately $1,198 million as of September 30, 2026, a 25% increase from the $956 million June 30 backlog after a 14% rise in the prior quarter. The company said the backlog increase outperformed traditional seasonal trends.

President and Chief Executive Officer Brent Yeagy said third-quarter results represented another step forward in a transition year and that customer demand provided evidence that conditions required for a broader recovery were in place. He said the company pulled forward capacity-addition actions previously slated for the first and second quarters of 2027 to increase dry van output in response to customer order activity.

For the fourth quarter of 2026, Wabash guides revenue to a range of $420 million to $450 million, a midpoint of $435 million, and Non-GAAP adjusted EPS to a range of $(0.75) to $(0.55), a midpoint of $(0.65). The company said market conditions and financials are expected to improve sequentially thereafter.