News

Wabash foresees negative second quarter

July 11, 2001

Wabash National Corp. said it will not meet analysts’ estimates for its second quarter 2001. The truck trailer manufacturer believes it will incur a 16- to 35-cent loss per share. “The second quarter showed a continuation of several trends for the company,” said Wabash vp & CFO Mark R. Holden. “They include weak demand for new trailers due to weak freight tonnage, costs associated with the start-up

Wabash National Corp. said it will not meet analysts’ estimates for its second quarter 2001. The truck trailer manufacturer believes it will incur a 16- to 35-cent loss per share.

“The second quarter showed a continuation of several trends for the company,” said Wabash vp & CFO Mark R. Holden. “They include weak demand for new trailers due to weak freight tonnage, costs associated with the start-up of the company’s new coating and finishing process facility, and further deterioration in used trailer retail inventory values.”

As a result, Wabash expects to report a second quarter loss substantially more than current expectations and is said it is undertaking a “comprehensive review” of its operations to develop a plan to address those trends.