Wabash National Corporation (NYSE:WNC) Q1 2023 Earnings Conference Call April 26, 2023 11:00 AM ET
Company Participants
Ryan Reed – Senior Director of Investor Relations
Brent Yeagy – President and Chief Executive Officer
Mike Pettit – Chief Financial Officer
Conference Call Participants
Justin Long – Stephens
Mike Shlisky – D.A. Davidson
John Joyner – BMO Capital Markets
Felix Boeschen – Raymond James
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Wabash First Quarter 2023 Earnings Call.
I would now like to turn the call over to Ryan Reed, Senior Director of Investor Relations. Please go ahead.
Ryan Reed
Thank you, and good morning, everyone. We appreciate you joining us on this call. With me today are Brent Yeagy, President and Chief Executive Officer; and Mike Pettit, Chief Financial Officer.
Before we get started, please note that this call is being recorded. I’d also like to point out that our earnings release, the slide presentation supplementing today’s call and any non-GAAP reconciliations are available at ir.onewabash.com. Please refer to Slide 2 in our earnings deck for the company’s Safe Harbor disclosure addressing forward-looking statements.
I hand it off now to Brent.
Brent Yeagy
Thanks, Ryan. Good morning, everyone, and thanks for joining us today. We are extremely pleased with our record first quarter results. Importantly, these results highlight last four years of hard work we’ve undertaken to affect structural improvement in our business, in the lead up to this moment in time.
Customer portfolio reshaping a significant redesign of our organization and reporting structure a new customer-centric go-to-market approach, including an improved pricing construct and long-term customer agreements matched on the sourcing side with retooled and relationship based strategic agreements with key suppliers.
We have re-imagined our production capacity and are also acting to increase our recurring revenue exposure by achieving our rightful share in parts and services having already laid the groundwork through our parts and distribution joint venture. All managed through a purposely crafted lean based management system and a strategic deployment process that mutually act on the business each and every day to drive execution and bring our strategy to a measurable reality.
My team and I believe strongly that the changes made to date have significantly brightened the future prospects of our company. Our way of managing the business does not rest, and we have more work to do and opportunities to harvest. While progress is easily indicated by our first quarter performance, what really drives long-term value is the fact that our management system works to benefit customers, suppliers, employees, and communities and shareholders together.