By Rob Curran
Shares of Wabash National fell after the maker of semi trailers slashed its projections for 2025 earnings and revenue following a plunge in demand during the first quarter.
Wabash warned it now expects an adjusted 2025 loss in a range between 35 cents and 85 cents a share. In January, the company forecast earnings in a range between 85 cents and $1.05 a share.
The Lafayette, Ind., manufacturer cut its 2025 revenue projection to $1.8 billion from a prior estimated range between $1.9 billion and $2.1 billion.
Shares fell 13% to $8.64, premarket.
For the first quarter, Wabash posted earnings of $230.9 billion, or $5.36 a share, up from $18.2 million, or 39 cents a share, a year earlier.
Earnings were buoyed by the reduction of a jury verdict in Missouri related to liability in a fatal 2019 crash.
Wabash said revenue slid 25% to $380.9 million. Wabash shipped 6,290 trailers in the first quarter, a 26% drop from a year earlier. Shipments of truck bodies also fell sharply to 3,000.
Penske Automotive recently noted a drop in quarterly sales of commercial trucks.
Write to Rob Curran at rob.curran@wsj.com
(END) Dow Jones Newswires
April 30, 2025 08:08 ET (12:08 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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