The following is a summary of the Wabash National Corporation (WNC) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 2024 consolidated revenue of $551 million.

• Gross margin was 16.3% of sales during the quarter; operating margin was 7.9%.

• Adjusted EBITDA of $62 million or 11.2% of sales.

• Net income attributable to common stockholders was $29 million or $0.64 per diluted share.

• Transportation Solutions generated $499 million in revenue with an operating income of $57 million.

• Parts and Services generated $55 million in revenue with an operating income of $12.1 million.

• Year-to-date operating cash was an outflow of $6 million.

Business Progress:

• Strengthening the Parts and Services segment and digital capabilities with the Wabach marketplace and connectivity through the preferred partner network.

• Optimism for demand in Parts and Services to grow in the second half of 2024.

• Company's resilience through diversification of equipment portfolio from first-to-final mile.

Opportunities:

• Expanding higher-margin Parts and Services segment.

• Potential growth in the Trailers as a Service model.

• Increased investment in strategic growth initiatives, supported by strong cash flow generation and share repurchases.

Risks:

• Continued challenges in the dry van market due to ongoing freight recession.

• Potentially impacting capital expenditure shifts from trailers to trucks due to EPA's 2027 emissions mandates.

• Uncertainty in customer demand for large deals as the fall order season approaches.

More details: Wabash National IR

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