Wabash foresees negative second quarter
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.