Wabash National Corp. announced today that its first-quarter net sales were $242.6 million, compared to $352.8 million for the same period last year.
“The transportation market continued to be severely impacted by the reduced level of freight demand during the first quarter,” said president and CEO Jerry Erlich. “However, we remain cautious and will continue to pursue opportunities to further reduce our costs.”
Wabash’s net loss for the quarter was $10.4 million before inventory and other nonrecurring after-tax charges of $7.3 million, compared to $9.1 million in net income for the same period last year.
Wabash National Corp. recently announced it will cut 500 manufacturing and administrative jobs, about 8% of its workforce.