Wabash National Corporation (NYSE:WNC) shares fell more than 5% in premarket trading Thursday after the transportation equipment manufacturer posted third-quarter results that missed Wall Street expectations, with steeper losses and softer sales amid ongoing market headwinds.
The company reported an adjusted loss of -$0.51 per share, significantly worse than the -$0.24 per share expected by analysts. Revenue for the period totaled $382 million, falling short of the $390.07 million consensus estimate.
The results mark a deeper decline from the previous quarter, when Wabash had reported an adjusted loss of -$0.15 per share, signaling persistent pressure across the business.
Reflecting this softer environment, Wabash trimmed its full-year 2025 revenue forecast to $1.5 billion, down from the prior outlook of $1.6 billion and below the $1.58 billion analysts had projected.
“Market environment continues to be challenging as economic concerns and uncertainty remain,” said Wabash CEO in the earnings release.
The company’s Transportation Solutions segment — which includes its trailer manufacturing operations — has borne the brunt of the slowdown, with operating margin slipping to just 3.1%, compared to 11.4% in the same quarter last year.
Wabash’s Parts & Services division showed relative strength, posting sequential and year-over-year growth in the second quarter. However, that performance was not enough to offset weakness across the broader business.
The company also highlighted that, despite having limited tariff exposure due to its domestic manufacturing footprint, persistent inflationary pressures will likely force a price increase on 2026 orders, a move that could weigh further on demand.
During the quarter, Wabash shipped 8,640 trailers and 3,190 truck bodies, representing a decline from the prior year as economic uncertainty continues to dampen capital spending in the transportation sector.