EarningsQ2 2026 Earnings Report
MX:WNC Q2 2026 EPS Results
Actual EPS-$9.63
Consensus EPS-$10.18
Beat/MissBeat by +$0.55
One Year Ago EPS-$2.73
MX:WNC Q2 2026 Revenue Results
Actual Revenue$7.58B
Expected Revenue$7.32B
Beat/MissBeat by +$261.60M
YoY Revenue Growth-9.06%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:WNC Upcoming Earnings
Wabash National's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:WNC Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Cautiously positive. The company reported clear signs of market recovery (strong backlog growth, materially stronger spot rates, improving tender rejection and industry indices), strengthened liquidity ($150M additional post-quarter, $193M total, $300M committed credit), capacity additions, and returning to positive gross margin. These operational and market improvements give a credible path to restored profitability (management expects positive EBITDA in H2 2026 and sees potential to return to historical EBITDA ranges by 2027 if replacement demand materializes). Near-term challenges remain significant: Q2 reported operating losses, material costs have not yet been fully recovered through pricing, truck body demand is lagging, and some results exclude costs from idled facilities. Given the balance of meaningful forward-looking positives and existing near-term profitability pressures, the overall tone is cautiously optimistic but pragmatic.Company Guidance
Backlog Growth and Unusual Seasonality
Backlog grew to $956 million at the close of Q2 2026, a 14% quarter-over-quarter increase — the first time in company history to record backlog growth in Q2, signaling customers moving from deferral to committed demand.
Improving Market Indicators
Spot rates strengthened from ~14% above prior year at end of Q1 to ~40% above prior year by June; tender rejection rates rose above 16% (highest since 2018); ATA truck tonnage and ISM manufacturing index show expansionary trends, and the Logistics Managers' Index hit its highest level since early 2022.
Revenue and Shipments Beat Near-Term Expectations
Consolidated Q2 revenue was $417 million (above expectations from the prior quarter); shipments of 8,290 new trailers and 1,380 truck bodies in Q2; Q3 revenue guidance of $440M–$460M indicates expected sequential top-line improvement.
Return to Positive Gross Margin and Segment Momentum
Adjusted non-GAAP gross margin returned to positive at 4.1% in Q2; Transportation Solutions returned to positive gross margin supported by improved volume; Parts & Services delivered $63 million in revenue and $6 million in operating income with improving profitability.
Strengthened Liquidity and Balance Sheet Flexibility
Total liquidity of $193 million as of June 30, up 17% versus prior quarter; operating cash flow $5.1 million and free cash flow $3.1 million in Q2; secured an additional $150 million of liquidity via convertible senior notes after quarter-end; revolving credit commitments up to $300 million.
Safety and Operational Improvements
Injury rate improved for the fourth consecutive quarter: down 13% versus Q1 2026 and down 33% versus Q2 2025; total injuries down 15% year-over-year; company pursuing onboarding and quality initiatives with a long-term target injury rate of less than one.
Capacity Expansion and Domestic Sourcing
Lafayette South plant added 10,000 units of dry van capacity; approximately 95% of materials are procured from the U.S., supporting domestic manufacturing positioning.
Regulatory Developments Could Level Playing Field
Preliminary ITC rulings set significant duties: China countervailing duties ~82% (cooperating) to ~129% (non-cooperating) and antidumping duties ~131%; Mexico CVD ~2%; Section 301 tariff at 25% remains in effect — these actions may reduce unfair import competition over time.
MX:WNC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed